In 2022, it is anticipated that the global market for concrete admixture will be worth US$ 15.1 billion. By 2032, the market will have grown at a stable CAGR of 6.1%, reaching US$ 27.4 billion. The concrete admixture market is expected to grow as a result of a noticeable increase in the usage of concrete admixture in concrete formulations for the construction of commercial, residential, and industrial structures.
Rising infrastructural needs of emerging economies, accelerated urbanization, and increasing government initiatives in the construction sector will push the construction market. This will culminate in a rise in the demand for concrete admixture.
Construction sites have high water requisites. Since it is difficult to have constant and easy access to water, water-reducing admixtures like plasticizers and superplasticizers are in high demand. Apart from removing water from concrete, plasticizers provide strength, durability, and a strong bridge between concrete and steel. Plasticizers also aid in reducing cracking, segregation, and bleeding which promotes growth. All these properties promote the growth of the market.
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“High adoption rates of ready-mix concrete and precast concrete are likely to fuel demand for admixtures like superplasticizers. This will definitely boost growth in the concrete admixture market over the forecast period,” says an FMI analyst.
Key Takeaways:
Plasticizers and superplasticizers will dominate the concrete admixture market.
High demand for fast-setting concrete admixtures will propel market expansion.
India noted a rise in demand for liquid concrete admixture.
Concrete admixture market in India is predicted to exhibit a CAGR of 8.5%
Rapid expansion of the construction industry in China will boost the market possibilities for the Asia Pacific.
By application, residential segment will account for 62.3% market share during the forecast period.
Competitive Landscape
BASF SE, SIKA AG, GCP Applied Technologies, RPM International Inc., Fosroc International, Mapei S.P.A, CICO Technologies, CHRYSO S.A.S, Pidilite Industries Ltd, Rhein-Chemotechnik GmbH, Weber Saint-Gobain, Polisan Kimya San. A.S, Shandong Wanshan Chemical Co. Ltd., CEMEX SAB de CV, and others are some of the major players in the concrete admixture market that are profiled in the full version of the report.
In a competitive market, major players in the global concrete admixture market are focused on employing alternative distribution channels. These organizations are investing in research and development activities so as to innovate their existing product line and make it more eco-friendly.
Concrete Admixture Market Regional Analysis
According to FMI reports, Asia Pacific is anticipated to monopolize the global concrete admixture market over the forecast period. Expansion of the construction industry with rising investment in infrastructure development projects and government initiatives will boost the market in China. Additionally, China has registered high demand for liquid admixture due to its high-strength properties.
The burgeoning urban population in metros and innovative development plans for non-metro cities carry significant growth potential for various end-use sectors. This is fostering an atmosphere of growth for the concrete admixture market in India. Furthermore, easy access to such cost-effective raw materials and increasing investment in non-residential projects will also boost the regional market.
Concrete Admixture Market Outlook by Category
By Type:
Accelerating Admixture
Air Entraining Admixture
Retarding Admixture
Water Reducing Admixture
Plasticizers
Superplasticizers
Water Proofing Admixture
Others
By Application:
Residential
Infrastructure
Commercial
Industrial
By Region:
North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa
Concrete Admixture Market Segmentation Analysis
By application type, residential segmentation accounts for around 62.3% market share of the global concrete admixture market. Increasing disposable incomes and a rise in nuclear families have led to high demand for residential construction thus driving the segment’s growth.
Based on product type, the residential sector will make extensive use of air-entraining concrete admixture. This will compound the demand for the admixture. Another product type that will gain traction is the water-reducing admixture.