New York, USA, Feb. 06, 2023 (GLOBE NEWSWIRE) -- Construction Additives Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Construction Additives Market Information by Type, End-Use Industry, and Region - Forecast till 2030”, the market is estimated to grow at a 7.76% CAGR to reach USD 38.96 Billion by 2030.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 38.96 Billion |
| CAGR | 7.76% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, End-Use Industry, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Population growth and rapid urbanization are driving the growth of the construction industry. |
| The increase in residential construction is associated with the growing need for single-family dwellings in North America. |
Market Competitive Landscape:
The affluent companies in the construction additives industry include
- BASF SE (Germany)
- Sika Group (Switzerland)
- The Dow Chemical Co. (U.S.)
- W. R. Grace and Company (U.S.)
- RPM International Inc (U.S.)
- CHRYSO Group (France)
- Evonik Industries AG (Germany)
- Mapei S.p.A (Italy)
- Fosroc (U.K.)
- Cico Group (India)
- Among others.
The worldwide market is by nature, oligopolistic, considering the presence of global as well as local players. The majority of the players invest considerably in research and development of a variety of high-performance and quality products that bolster the construction and render it durable for an extended period. Companies are establishing their production units in other countries, particularly in Asian countries, to leverage the surging growth potential.
Market USP Covered:
Market Drivers:
Construction additives have gained significant importance post the revival of the worldwide construction sector following the economic crisis of 2008. The construction additives market will benefit from the rapid surge in residential and commercial construction projects, driven by the fast urbanization rate in emerging countries like China and India. Additionally, heightened awareness with regard to the benefits of additives amongst architects, builders, and everyone part of the construction industry is likely to provide impetus to the global industry.
The mechanical characteristics of construction materials containing additives allows redesigning and strengthening of connections like roads and bridges. These characteristics also facilitate fast and easy formation of infrastructure and buildings. These desirable properties help foster the bonds in infrastructure, which lead to prolonged performance. These properties will enhance the product demand and in turn, enhance the market share in the following years.
Market Restraints:
Surging costs of raw materials could be a major challenge for the active players in the construction additives industry. Varying prices will slow down the market demand.
Browse In-depth Market Research Report (110 Pages) on Construction Additives https://www.marketresearchfuture.com/reports/construction-additives-market-5170
COVID 19 Analysis
COVID-19 has had an impact on people's health across the world. The aftermath has a tremendous social and economic impact on individuals all across the world. People are experiencing a series of mental traumas as prominent governments implement new frameworks and industries embrace advanced forms of expansion to maintain their relevance.
Rising cases have exacerbated mental and economic concerns worldwide, particularly among the elderly. Furthermore, the younger generation is facing difficulties as a result of job loss and is turning to family care to deal with the consequences. The focus is mostly on COVID-19 treatment and vaccine research, diverting attention away from other markets. This has had an effect on the market for construction additives.
Market Segmentation
By Type
The types of construction additives are Chemical (Air-entraining, Plasticizers, Retarding agents, and Waterproofing), Fiber, and Mineral. The demand for chemical additives in the market is significantly high and the segment could procure the highest growth rate in the future. These types of construction additives bolster the strength of the concrete using less water and are easily workable. Chemical additive concrete has applications in a variety of complex reinforcement models, including roof decks, underwater locations, pavements, and foundations.
By End-Use
The key end-use sectors are Commercial, Residential, and Infrastructure. The commercial end-use segment will garner the fastest growth rate in the construction additives industry over the given period. The heightened focus of the consumers as well as the building contractors on eco-friendly, cost-efficient, modern building methods, and the use of ready-mix concrete in emerging countries should give rise to lucrative opportunities for the worldwide market.
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Regional Insights
Asia Pacific will be the biggest market for construction additives in the coming years, thanks to the surging number of infrastructure activities. Also, the rise in government initiatives like China Pakistan Economic Corridor (CPEC) and One Belt One Road (OBOR) in China as well as the Bharat Mala project in India will further bolster the market demand in the next couple of years. Moreover, the rapidly expanding population in rapidly developing countries in China and India has raised the demand for residential construction, which in turn fosters the demand for construction additives.
The revival of the housing sector along with the heightened number of medical facilities/hospitals in Europe and North America will push the growth rate of these markets. These regions are experiencing substantial demand for commercial and residential constructions. The high urbanization rate in these regions demands cheaper and faster construction of facilities and various buildings without compromising the quality. Other than this, the rise in government spending on infrastructural constructions offers impetus to the construction additives industry in these regions as well.
The Middle East and Africa interestingly remain one of the fastest-growing markets out of all the regions, thanks to the burgeoning construction sector. Many Middle Eastern nations like Qatar, Saudi Arabia, and the United Arab Emirates are focused on shifting from petroleum-centric economies to tourism and business-based economies. This could be highly favorable for the construction additives market in MEA. On top of this, the construction of skyscrapers and artificial islands in these countries will enhance the market size.
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