The global concrete admixture market is anticipated to expand at a robust CAGR of 6.1% over the forecast period between 2022 and 2032, finds Future Market Insights (FMI) in a recent study. The concrete admixture market is likely to be driven by its widespread use in various construction activities to enhance concrete efficiency.
The concrete admixture market is significantly driven by certain demographic and macro-economic factors, including urbanization, economic development, construction works, and infrastructure sector development. Concrete admixtures also help in reducing water use and enhancing efficiency, especially during the construction of high rise buildings.
Urgent need for water conservation is driving demand for water-reducing admixtures, which is further bolstering the global concrete admixture market. A water-reducing admixture can lower the water content of concrete mix by 15% — 30%. The market for concrete admixtures is thus set to be driven by extensive adoption of water-reducing admixtures such as plasticizers and superplasticizers worldwide.
As per FMI, the global market is anticipated to be dominated by East Asia and South Asia & Pacific in the evaluation period. Increasing government initiatives to push construction activities in countries of the aforementioned regions are projected to help the global concrete admixture market to reach US$ 27.4 Bn by 2032.
“Demand for concrete admixtures is expected to be driven by increasing number of residential and infrastructure development activities globally. Besides, rising adoption of water-reducing admixtures to address water scarcity issues is projected to spur the market,” says a FMI analyst.
Key Takeaways: Concrete Admixture Market
- By application, demand for concrete admixture in the residential sector is expected to surge at a CAGR of 8% over the forecast period.
- The concrete admixture market in India is anticipated to witness growth at 5% CAGR throughout 2032.
- The China concrete admixture market is expected to showcase substantial growth at a CAGR of 9% in 2022–2032.
- Top 5 players in the global concrete admixture market generated nearly 25–30% of the concrete admixture market share in 2021.
- Europe and North America concrete admixture markets are projected to exhibit 1% and 5.4% of CAGR, respectively in the forecast period.
Competitive Landscape
Some of the key players present in the global concrete admixture market include 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., and CEMEX SAB de CV among others.
Read Full Report: https://www.futuremarketinsights.com/reports/global-concrete-admixtures-market
