29-Mar-2022 | Zion Market Research
The global concrete admixture market was worth around USD 17.5 billion in 2021 and is estimated to grow to about USD 24.68 billion by 2028, with a compound annual growth rate (CAGR) of approximately 5.9 percent over the forecast period. The report analyzes the concrete admixture market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.
Concrete admixtures are crucial in the advancing construction industry that is seeing major changes in trend as technological proliferation increases in the industry. Rising infrastructural activity is expected to majorly propel concrete admixtures market potential over the forecast period. increase in the demand for infrastructure development in developing countries.
Concrete admixtures are special additives used to modify the nature and characteristics of concrete and are used to get better results in construction. Increasing demand for specialized construction practices and rising focus on sustainability trends are expected to boost concrete admixtures market potential over the course of the forecast period.
The rising population across the world has increased the demand for infrastructure and subsequently given rise to high construction activity which is what drives the concrete admixtures market growth. Increasing advancements in construction technology, rising demand for smart construction, increasing focus on sustainability trends, etc., are some other factors that influence concrete admixtures market growth in a positive manner through 2028.
The use of harmful and toxic chemicals in the production of concrete admixtures is expected to act as a major restraining factor in the global concrete admixtures marketplace. Concrete admixture companies can eliminate this by focusing on creating chemicals that are more nature-derived and alkaline in nature. High costs of chemicals in these concrete admixtures are also expected to restrain market growth over the forecast period.
In 2020, to reduce the risk of spreading coronavirus infections, multiple nations across the world declared lockdowns that had a negative impact on the concrete admixtures market. Industrial activity was majorly hampered and resulted in a major drop in production of concrete admixtures and hence a negative growth trend in the market.
Lockdowns restricted the construction industry on a global scale and restrictions made it impossible to carry out building activities. Lack of skilled labor, disrupted demand and supply chains, decreasing demand, and restrictions on outdoor activities were major factors that negatively resulted in an adverse impact on the concrete admixtures market. c
The global concrete admixture market is segregated based on product, application, and region. Based on product, the global market is distinguished into superplasticizers, accelerators, retarders, water reducers, air entraining mixture, fly ash, silicate fume, plasticizers, synthetic CSH, and others. The superplasticizers segment is projected to rise at the fastest CAGR owing to rising adoption in the construction industry due to its unique ability to reduce water use in concrete by almost 30% and still deliver the same integrity and strength without any compromise.
Asia Pacific region is expected to be the most lucrative for concrete admixture market growth and is expected to be driven by increasing infrastructural activity in this region through 2028. The market in this region is also expected to be governed by rising urbanization and rapid industrialization which is propelling the demand for infrastructural development. Emerging economies such as India and China are expected to lead the demand outlook for the concrete admixture marketplace in this region.
Key players functioning in the global concrete admixture market include Bosch Packaging Technology, Krones AG, Optima Packaging Group GmbH, Pro Mach Inc., Gebo Cermex, IMA S.p.A., Festo Corporation, Combi Packaging Systems LLC, DS Smith plc, Schneider Packaging Equipment.
Browse the full “Concrete Admixture Market By Product (Superplasticizers, Accelerators, Retarders, Water reducers, Air entraining mixture, Fly ash, Silicate fume, Plasticizers, Synthetic CSH, Others), By Application (Residential, Non-residential, Commercial), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/concrete-admixtures-market
Global concrete admixture market is segmented as follows:
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