Press release
Concrete Admixture Market to Soar at a CAGR of 9% to 2024
Strong demand of concrete admixtures in the emerging economies of Middle East & Asia-Pacific coupled with rise in spending on infrastructure activities globally will drive the concrete admixtures market. For instance, UAE has been making considerable investment in constructing ports. The Khalifa port is itself valued at USD 24 billion which will boost the demand of concrete admixtures. These trends are probable to make subsequent influence on concrete admixture market by 2024. Additionally, growing urbanization rate in the Asia Pacific is another major factor which will help achieve promising gains to concrete additive market by 2024. These products possess exceptional properties, such as high workability, reduced water cement proportion which makes it preferable across construction sector.
Concrete Admixture Market is forecast to exceed USD 38 billion by 2024 and will exhibit compound growth of more than 9% by 2024.; according to a new research report.
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Strong need to revamp the construction industry in Europe and North America to promote sustainable construction practices will help make significant gains to the concrete admixture market by 2024. Limited product responsiveness across unorganized construction industry along with unavailability of trained labor are probable to impede the concrete admixture market by 2024. However, rising need to conserve water resources will generate plentiful opportunities for product which in turn will propel concrete additive market by 2024.
Water reducer concrete admixture accounted for more than 50% of the overall market in 2016. This is mainly attributed to its superior properties which helps in creating slumps at lower water cement ratio and henceforth results in improving concrete properties for its application under difficult conditions including bridge decks, patching concrete, low slump concrete overlays, etc. Some of the commonly used water reducers are lignosulfonic acids, hydroxylated carboxylic acid, etc. their salts and derivatives. Consistently advancing admixture technology to improve the concrete performance has resulted in development of mid-range water reducers which will drive the concrete admixture market by 2024.
Concrete admixture market for commercial applications is projected to rise at a CAGR of more than 9% by 2024 fueled by rise in infrastructure activities in developing economies such as bridges, tunnels, airports, roads, warehouses, manufacturing facilities, etc. For instance, government of India have announced spending USD 59 billion to modernize its infrastructure in the coming years which will make noteworthy contribution to the overall concrete admixture market by 2024.
Middle East & Africa concrete admixture market is likely to grow at a CAGR of more than 9.5% by 2024. Governments of Oman, Qatar, Saudi Arabia have been making huge investment to improve the overall infrastructure of the region and shift from oil-based economy.
Concrete admixture market share is exceedingly consolidated, with prominent players accounting for over half of the total business in 2016. The major players include CEMEX, BASF, RPM International, Bostik, CICO Group, Sika, MAPEI, Dow, FOSROC, Euclid Chemical and Cementaid. The players are expanding their volume to fulfill the growing product demand in the world. For example, in November 2017, Sika launched a new concrete admixture manufacturing plant in Ethopia to fulfill the growing admixture demand regionally.
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Related Reports: -
Global Concrete Admixture Market Research Report 2017
In this report, the global Concrete Admixture market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. ...
https://www.marketstudyreport.com/reports/global-concrete-admixture-market-research-report-2017/?utm_source=RR&utm_medium=SK
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