The Global Concrete Admixtures Market was $16.1 Bn in 2020, and it is expected to reach $30.9 Bn by 2031. It is eventually growing at a commendable high compound of annual growth rate CAGR of 6.0% between 2021-2031. However, the current pandemic of COVID-19 might make a slight difference in the growth rate in the present year. Concrete is the prime essential construction material for all types of construction projects and can serve the important requirements of civil structures, such as durability and strength of the final structure. Concrete admixture is the part of the concrete mixture which can reduce the setting time of the concrete. When the batching plant is far away from the construction site, then it is important to add admixture to the concrete; otherwise, the concrete would not get sufficient strength after completing. Rising demand from the construction industry and the far distance from the batching plant to the construction site is the prime factor for the market growth. The increasing number of constructions for residential and commercial are also driving the market growth during the forecast period. Now, moving forward, the robust demand for the Global Concrete Admixtures Market in the construction department is further estimated to create new necessities and augment the market of growth over the forecast period of 2021-2031.
Global Concrete Admixtures Segment Is Estimated to Witness Remarkable Growth
Source: SAI Research
The Concrete Admixtures market is segmented as product outlook and application. Based on Product Outlook, the global Concrete Admixtures market has been bifurcated as Water Reducing Admixtures, Superplasticizers, Plasticizers, Waterproofing Admixtures, Accelerating Admixtures, Air-Entraining Agents, Retarding Admixtures, and Other Admixtures. Based on the Application, the global Concrete Admixtures market has been divided into Residential, Non- Residential, and Commercial.
By Region, Asia Pacific is Holding the Major Market Share
The Concrete Admixtures Market has been geographically segmented into North America, Asia Pacific, Latin America, Middle East, Europe, and Africa region. In addition to this, Asia Pacific has a significant share among those regions. A considerable rising construction department over the region is expected to drive market growth over the region. The availability of raw materials and the availability of a skilled workforce and a rising number of construction sites are the prime factors that boost market growth over the region. Apart from that, favorable rules and regulations and other factors are drive market growth. Apart from that, Europe and the Rest of the regions are expected to increase the growth rate in the upcoming forecast period of 2021 to 2031.
Major Players in the Global Concrete Admixtures Market
The report covers a detailed outlook about the company, and it includes the company or industry profiles and market share of key players operating in the global market. Key players in the report include Sika AG, BASF SE, GCP Applied Technologies, Inc., RPM International, Inc., Fosroc, Inc., Mapei SpA, CHYRSO SAS, Rhein-Chemotechnik GmbH, The Dow Chemical Company, W.R. Grace & Co., Cemex S.A.B. De C.V, Ashland Inc., Pidilite Industries, Fosroc International Ltd, and CICO Technologies Ltd among others.
The Global Concrete Admixtures Market Has Been Segmented into:
Global Concrete Admixtures Market: By Product Outlook
Global Concrete Admixtures Market: By Application
Global Concrete Admixtures Market: By Region