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(Construction.IndustryNews247.Com, October 29, 2019 ) Market Overview
• Growing construction activities, has increased the demand for concrete admixtures market. In addition, public awareness of the advantages of the product coupled with increase in the government investments is fuelling the growth of the concrete admixtures market globally. About more than 90% of the concrete admixture production is utilized in the reinforcement of construction buildings. Based on applications of concrete admixtures, the non-residential segmented hold the largest market share (in terms of value) of about 74.89% in 2018 and estimated to increase by XX % by 2026.
• Asia-Pacific region is dominating the concrete admixtures market in terms of value during the forecast period. These products are used extensively to extend the reinforcing properties of normal cement in construction applications. Owing to their better properties concrete admixtures are estimated to see an upsurge in the demand of the market. The companies manufacturing these concrete admixtures, aim to improve and protect the properties of the product by reducing facility maintenance costs and improving safety record.
Market Dynamics
• Growing construction activities globally and increasing demand from developing economies are the driving factors for the growth of the market. The global concrete admixture market is primarily driven due to growing number of construction activities globally. Concrete admixture are widely used in all the constructions viz. residential, commercial and industrial building constructions. Admixtures are used to over come difficult construction situations such as hot or cold weather placements, pumping requirements, early strength requirements, or very low water-cement ratio specifications. The demand for this product is always high in all cities and other urban centres due to construction of residential apartments, commercial buildings and industrial buildings.
• High cost of concrete admixtures and stringent standards and environmental regulations are the key restraints hindering the market growth worldwide. Manufacturers are increasing the prices by considering other relative factors, hence becomes a hindrance in growth of the market. For instance, In September 2018, BASF increased the prices for its polycarboxylate ether based polymers for concrete admixtures in Europe (Melflux brand) by 10-12 percent. The increase in the prices became necessary in an environment of rising freight and logistics costs as well as raw material costs for basic and intermediate chemicals.
Market Segmentation
• By type, the Concrete Admixture market is segmented into water reducing, corrosion inhibiting, shrinkage reducing, set-retarding and others. The Water reducing segment of concrete admixtures market is valued at USD 4780.53 Mn in 2018 and is estimated to grow at a CAGR of XX % over the forecast period to reach a USD XX Mn by 2026. Water-reducing admixtures usually reduce the required water content for a concrete mixture by about 5 to 10 percent. Consequently, concrete containing a water-reducing admixture needs less water to reach a required slump than untreated concrete.
• Rapid growth of highly urbanised centres and the growth of the global construction industry are the major factors propelling the need for water reducing admixtures. Water-reducing admixtures are used to obtain specific concrete strength using lower cement content. Lower cement contents result in lower CO2 emissions and energy usage per volume of concrete produced. According to a report by the United Nations, Buildings and construction together account for 36% of global final energy use and 39% of energy-related carbon dioxide (CO2) emissions including upstream power generation.
Geographical Analysis
• The Asia Pacific Concrete Admixture Market is valued at USD 4,506.28 Mn in 2018 and is estimated to grow at a CAGR of XX % over the forecast period to reach a USD XX Mn by 2026. The Asia Pacific market covers China, Japan, South Korea and Rest of Asia Pacific in its scope. The growth in the industry is mainly due to rapid industrialization, highly flourishing residential and commercial building sectors and growing middle class population and spending power that lead to the increasing demand for better lifestyles. India and China are the two most populated countries of the world and has been witnessing rapid urbanization. Construction in these countries is at all time high because of the majority of the population moving to urban areas. This shift will require more residential and commercial building construction, therefore, fueling growth in the concrete admixture market in the region.
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Competitive Landscape
• The Concrete Admixture market is competitive with existing players in the market. Some of the major players include The Dow Chemical Company, BASF SE, Sika AG, Mapei S.P.A , Chryso S.A.S., Fosroc International Ltd , W.R. Grace & Co., ECONEX, Cico Technologies Ltd. and SYSCONS.
• The key players are adopting various key strategies such as product launches, collaborations, mergers & acquisitions which are contributing to the growth of the Concrete Admixture Market.
• In May 2019, Sika is starting operation at a new concrete admixture plant in Doha. The site will include production lines for concrete-admixture manufacturing as well as a main office and a central storage facility.
• In March 2019, BASF launched an innovative strength-enhancing admixture solution for the construction industry. The new solution, Master X-Seed STE, also helps make production of concrete more efficient.
• In September 2018, The company’s Master Builders Solutions launches an innovative shrinkage-reducing admixture MasterLife SRA 900; extends the service life of concrete by reducing crack widths.
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