New York, March 28, 2023 (GLOBE NEWSWIRE) -- The construction additives market was valued at USD 26.01 Billion in 2022, registering a CAGR of 8.5% during the forecast period 2022-2030, and the market is projected to be worth USD 46.04 Billion by 2030. The report highlights the increasing demand for powder-based construction materials, as well as the need for improved durability, and enhanced safety measures, as key factors driving the market growth. Reports Insights' study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the construction additives market.
Construction Additives Market Size, Share & Trends Analysis, By Type (Chemical (Plasticizers, Air-entraining, Waterproofing, Retarding agent), Mineral, and Fiber), Product Type (Liquid and Powder), End Use (Residential, Commercial, and Infrastructure), and By Region, Forecast Period 2023 – 2030.
ReportsInsights Consulting Pvt. Ltd. provided an inclusive research report on the construction additives market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends. The report analyzes significant segments such as type, product type, end use, and region, to identify emerging trends and potential opportunities. By leveraging this information, market players have the opportunity to improve their competitive edge against other manufacturers by engaging in strategic collaborations, mergers, and acquisitions, and introducing innovative products to strengthen their market position.
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Construction Additives Market Growth Drivers:
- Increasing investments in the infrastructure development projects such as dams, bridges, pavements, and others are boosting the demand for construction additives to enhance the strength and durability of the structure.
- Vital factors such as the increasing development of new office buildings, increasing demand for larger floor areas for commercial complexes, and others are leading to flourishing commercial construction growth. This factor is spurring the construction additive market growth.
- The increasing deployment of construction additives to improve the quality of construction materials is fostering the market growth.
Restraints
- The fluctuations in the raw materials prices are impacting the overall price of construction additives. This factor is posing as a major restrain for the market growth.
- The environment concerns associated with the deployment of construction additives in the construction industry is projected to create a bottleneck for the market growth.
Competitive Landscape
As per the research, BASF SE, Sika AG, DOW Inc., and W.R. Grace & Co. are some of the major market players that comprise the latest market circumstances. The above-mentioned companies are continuously adopting new technologies such as fully automated manufacturing and 3D printing to develop more efficient and innovative solutions. Also, the construction additives market is expected to grow steadily due to rising demand for construction materials in various regions, including Asia Pacific, Europe, and the Middle East are estimated to boost the revenue growth of the market during the forecast period.
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Recent Developments:
In March 2022, Sika has acquired Sable Marco Inc., which is a Pont Rouge-based manufacturer of cement products and mortars in Canada. With this acquisition, Sika will be able to explore fresh possibilities in the Eastern part of Canada.
In February 2022, Sika has enlarged its production facility in Africa, specifically in Tanzania and Ivory Coast, which now manufactures both mortars and concrete admixtures. The plant has also allocated ample space for the future expansion of its operations.
The market is expected to continue to grow in the coming years, driven by the increasing demand for high-performance and sustainable building materials along with growing construction activities in developing countries such as India and China.
The increasing demand for improved-quality construction materials is accelerating the growth of the construction additives market. As construction projects become more complex and demanding, there is a growing need for construction materials with enhanced properties such as strength, durability, and resistance to environmental factors. For instance, CICO Group offers various additives products in different categories such as various, concrete admixture, waterproofing, grouting, industrial flooring, repair compounds, adhesives, sealants, and several others.
In addition, the new product innovations to ensure the addition of upgraded features in the construction additives are leading to the enhanced performance of construction additives. This factor will foster the adoption of construction additives in the upcoming years. Thus, the development of a new product range will create an opportunity for the global construction additive market growth.
Construction Additives Market Report Scope :-
| Report Attributes | Report Details |
| Market Size By 2030 | USD 46.04 Billion |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 8.5% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | BASF SE, Sika AG, DOW Inc., W.R.Grace & Co., Chryso SAS, RPM International Inc., Mapei S.P.A., Evonik Industries AG, Fosroc International Limited, CICO Technologies Group |
| By Type | Chemical (Plasticizers, Air-entraining, Waterproofing, Retarding agent), Mineral, and Fiber |
| By Product Type | Liquid and Powder |
| By End Use | Residential, Commercial, and Infrastructure |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Geography | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
Further, increasing demand for sustainable and energy-efficient construction practices is driving the market towards more eco-friendly construction materials and methods. Construction additives are likely to play a role in achieving these goals by reducing the carbon footprint of construction materials, improving energy efficiency, and reducing waste. Additionally, the use of additives that are safe, recyclable, and bio-based is increasing due to the rising awareness regarding the environment. For instance, Schilling Ltd introduced a brand named BioPowder which provides a series of bio-based fruit stone powders and granules that serve as an effective filler, binders, insulating fibers, reinforcing agents, texturizers, colorants, and abrasives for items such as composites, concrete, cement, and ceramics.
Additionally, the increasing deployment of liquid construction additives is also projected to accelerate the global construction additive market. For instance, Sika offers a variety of liquid construction additives, including accelerators, retarders, and waterproofing agents. Their accelerators can speed up the setting time of concrete and mortar, which is useful for cold weather conditions or fast-track projects.
In addition, the government initiatives for the development of new residential projects in the upcoming years will boost the development of residential complexes, residencies, residential building, and other residential structures in the forthcoming years. Thus, the expansion of residential construction projects in various countries, including India, Brazil, and others will augment the potential for construction additives market growth during the anticipated market study period.
Key Market Takeaways
- The global construction additives market size is anticipated to reach around USD 46.06 billion by 2030 with an astonishing CAGR of 8.5% during the forecast period (2023-2030).
- Based on type, the chemical additive segment accounted for the highest share contribution to the construction additives market statistics in 2022.
- By product type, the liquid segment is anticipated to contribute the largest shares to the market growth in 2022.
- In the context of end use, the commercial segment is expected to contribute significant shares to the growth of construction additives market statistics during the forecast period.
- Asia Pacific will create favorable circumstances for market growth in terms of value and volume due to increased government investments, rapid urbanization, and other similar factors is bolstering the development of new construction projects in the region.
- Crucial variables such as increasing foreign direct investments, increasing demand for larger living scape, and others are accelerating the demand for construction additives in European countries such as Germany, Spain, and others. Thus, the Europe region will register significant growth in the construction additives market.
Global Construction Additives Market Segmentation Details:
Based on Type, the chemical additive segment contributed the largest shares to the market growth in 2022. Chemical additives are a type of construction additive that is added to concrete, mortar, or other construction materials to improve their performance and durability. They are used to modify the properties of the construction materials, such as setting time, workability, and strength, and to enhance their resistance to weathering, cracking, and chemical attacks. For instance, BASF offers a wide range of chemical additives, such as plasticizers, superplasticizers, retarders, accelerators, and air-entraining agents that improve the performance and sustainability of concrete and mortar.
Based on Product Type, the liquid segment contributed the largest shares to the market growth in 2022. Liquid construction additives are a type of construction additive that comes in liquid form and are added to cement, concrete, or mortar to improve their properties and performance. These chemicals improve properties such as surface finish, durability, compressive strength, and resistance to unwanted climate and undesirable working conditions and are expected to drive industry growth. For instance, Sika offers a variety of liquid construction additives, including accelerators, retarders, and waterproofing agents. Their accelerators can speed up the setting time of concrete and mortar, which is useful for cold weather conditions or fast-track projects.
Based on End Use, the commercial segment is anticipated to offer substantial shares to the global construction additives market growth during the forecast period. This growth can be attributed to the increasing demand for high-performance concrete in commercial construction projects such as offices, retail spaces, and hotels. For instance, decorative concrete is increasingly being used in commercial spaces such as hotels and restaurants to create unique and attractive surfaces. Construction additives such as coloring agents, surface retarders, and release agents can be used to create a variety of effects and finishes, such as stamped concrete or exposed aggregate.
Based on region, Asia Pacific is anticipated to witness a significant growth rate in the construction additives market over the forecast period. Asia Pacific is witnessing rapid urbanization due to population growth and migration from rural areas to cities. This has resulted in a surge in demand for housing, commercial spaces, and infrastructure development, thereby driving the demand for construction additives. Moreover, governments in the region are investing heavily in infrastructure development and are implementing policies to encourage sustainable construction practices. For instance, The Indian government has launched the Green Rating for Integrated Habitat Assessment (GRIHA) program, which provides ratings for buildings based on their environmental impact. This has created a market opportunity for construction additive manufacturers to provide solutions that improve the sustainability of buildings.
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List of Major Global Construction Additives Market Players
- BASF SE
- Sika AG
- DOW Inc.
- W.R.Grace & Co.
- Chryso SAS
- RPM International Inc.
- Mapei S.P.A.
- Evonik Industries AG
- Fosroc International Limited
- CICO Technologies Group
Global Construction Additives Market Segmentation:
- By IP Type
- Chemical
- Plasticizers
- Air-entraining
- Waterproofing
- Retarding agent
- Mineral
- Fiber
- Chemical
- By Product Type
- Liquid
- Powder
- By End Use
- Residential
- Commercial
- Infrastructure
Key Questions Covered in the Construction Additives Market Report
What will be the potential market valuation for the construction additives industry by 2030?
What insights are covered by the factors driving the growth of the construction additives market, as well as the opportunities and challenges that may impact the market’s future development?
What specific segmentation details are covered in the construction additives market report, and how do they contribute to the overall market analysis?
What are some of the most important product type of construction additives, and how do they impact the industry's growth potential?
Based on current market trends and future predictions, which geographical region will have the largest impact on the construction additives market's growth in the coming years?
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