Concrete Admixtures Construction Chemical Market worth $16,324 Million by 2023 : Chemical admixtures segment to grow with highest CAGR during the forecast period

Concrete mixtures can be used in a variety of applications such as water treatment, water treatment, water treatment, water treatment, water treatment, non-permeability and durability elements. . Concrete mixtures are available in mineral and chemical mixtures.

Due to rapid economic development and increased disposable income, the concrete admixture market has grown as the construction industry has grown rapidly due to changes in emerging countries such as China, India, Brazil, the Middle East and Africa. It is also expected to increase the level of penetration of concrete admixtures by adopting the latest manufacturing standards quickly.

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According to a new report published by Allied Market Research, titled, Concrete Admixtures Construction Chemical Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2015-2023, the global concrete admixtures construction chemical market was valued at $11,027 million in 2016, and is projected to reach at $16,324 million by 2022, growing at a CAGR of 5.7% from 2017 to 2023.

Chemical admixtures are chemical additive use to enhance the properties of concrete. It may be used for various purposes such as, to accelerate and retard the rate of curing, and for reducing the water content in the concrete mix. It is also used as corrosion inhibitors, shrinkage control, alkali-silica reactivity inhibitors, and coloring agents in concrete.

According to Eswara Prasad, Team Lead, Chemicals & Materials at Allied Market Research, Admixtures offer high workability, high compressive strength, durability, watertight, wear resistant, and high finish for the complex modern structures, which is expected to drive the growth of concrete admixture market.

Lack of awareness of the long-term benefits of concrete admixtures in contrast to the inexpensive substitutes and lack of benchmark regulations globally lead to sub-standard building guidelines, which is expected to hamper the growth of the market. Increase in government initiatives regarding energy conservation and sustainable infrastructure are expected to open new avenues during the forecast period.

Key Findings of the Concrete Admixtures Construction Chemical Market

• LAMEA is expected to continue the lead in the market in terms of value during the forecast period, followed by Asia-Pacific
• Chemical admixtures segment generated the highest revenue and is projected to grow at a highest CAGR during the forecast period.
• Residential is the largest application segment in concrete admixtures construction chemical market, registering a significant CAGR during the forecast period.
• LAMEA accounted for approximately one-third share in concrete admixtures construction chemical market in 2016.
• The concrete admixtures construction chemical market in Asia-Pacific is anticipated to grow at the highest CAGR from 2017 to 2023.
• Asia-Pacific and LAMEA collectively contributed approximately three-fifths of market share in the global concrete admixtures construction chemical market by revenue in 2016.

The key players operating in the global concrete admixtures market are BASF SE, Arkema SA, Ashland Inc., Fosroc International Limited, Mapie S.p.A, Pidilite Industries, RPM International Inc., Sika AG, The Dow Chemical Company, and W.R. Grace & Company.

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