Global construction additives market has witnessed gradual growth in recent years and is expected to witness steady growth in the forecast period. The global construction additives market is primarily driven due to growing urbanization, improved quality, and properties of construction materials and high demand for construction additives in developing countries. The construction industry is evolving continuously as huge differences are witnessed between the structures built today and the ones built over a decade ago. Changing lifestyles, rapid urbanization, and the demand for enhanced aesthetics for residential, commercial, and infrastructure, have forced architects and engineers to innovate the design of concrete structures suited for various applications. On the flipside, tight project completion deadlines and the increasing variable costs of construction present a challenge for efficient execution of the construction projects. Construction additives offer the benefits of high quality, increased efficiency, and better finishing. Lack of awareness regarding construction additive techniques and their benefits, along with unstable costs of raw materials, might restrain the demand for this type of construction technique.
Rapid growth in the construction sector is one of the major factors driving the construction additives market. High demand for residential and non-residential buildings has a significant impact on the demand for construction additives, as they are used in the flooring and walls of the buildings. Consumer preferences for improved and high-quality cement are expected to boost the overall product consumption rate in future as cement additives are helpful in increasing product strength, and are capable of providing waterproofing feature, enhanced chemical resistance, color, and high-water reduction.
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The construction industry has witnessed a significant change with the introduction of construction additives as they provide flexibility to designers to modify and enhance both, physical and chemical properties of concrete. This includes compressive strength, durability, surface finish, and resistance to withstand adverse climatic and working conditions as per design specifications/requirements without compromising the quality of the concrete structure. However, the rising emissions of toxic chemicals, is expected to hamper the construction additives market growth in the future.
Global construction additives market has been segmented based on type, end-use, and region. The commercial sector is projected to be the fastest-growing segment in the construction additives market during the forecast period. The gradual shift of building contractors and consumers toward cost-efficient, eco-friendly, modern building techniques, and the utilization of ready-mix concrete in developing countries create growth opportunities for the construction additives market. Whereas, the chemical additives segment is projected to grow at a higher CAGR during the forecast period. This growth can be attributed to factors such as introducing high strength to concrete with less water content, and easy workability. Chemical additive-based concrete finds applications in complex reinforcement models, such as underwater locations, roof decks, foundations, and pavements, where accessibility is the main constraint.
The industry is expected to have a huge number of new entrants over the forecast period owing to continuous developments in construction industry coupled with growing consumer preferences for high-quality cement. The market is also expected to have high expansion activities by multinationals and well-established companies. Mergers and acquisitions are expected to be seen over the forecast period.
The global construction additives market is expected to grow at ~ 7% CAGR during the forecast period.
Global Construction Additives Market
The global construction additives market is expected to witness a phenomenal growth during the forecast period. This is due to the considerable growth in the construction industry with population boom along with declining interest rates, which has propelled the housing market in various regions. The growth is primarily attributed to rising incomes from the economic growth have boosted housing and construction market in various countries, which is likely to continue during the forecast years. The Asia Pacific region is currently the leading region in global construction additives market, followed by North-America. Middle East & Africa is also expected to grow at a high CAGR, owing to high construction activities, coupled with increasing demand for enhanced additive products.
Global Key Players:
- BASF SE
- Sika Group
- The Dow Chemical Co.
- R. Grace and Company
- RPM International Inc.
- CHRYSO Group
- Evonik Industries AG
- Mapei S.p.A
- Cico Group (India).
This research report provides insights, on various levels of analysis such as industry analysis, and market share analysis for the leading players along with their profiles. It also helps in studying the target segments by providing views on emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios & strategies in the global construction additives market, including high-growth regions and/or countries, and political, & economic environments. The project report, further, provides views on both the historical market values and pricing & cost analysis.
Asia Pacific Construction Additives market is expected to grow at the highest CAGR
Currently, the Asia Pacific region is the largest consumer of construction additive products. China, U.S., and Germany are among the major markets of construction additives, globally. The Asia Pacific construction additives market is projected to register the highest CAGR during the forecast period. The rising number of infrastructural activities and the population in China, Japan, and Australia, drive the growth of the Asia Pacific construction additives market. Additionally, other emerging economies such as South Africa and countries in the Middle East and South America are experiencing high demand for residential and commercial constructions. The rapid urbanization in these countries demand faster and cheaper construction of buildings and facilities without compromising on quality. The rise in the number of government investments in infrastructural constructions, further boosts the growth potential of the construction additives market in these regions.
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