Concrete Surface Retarders Market - Commercial Application Segment is Projected to Grow at a Higher Rate in the Market - 2023

The commercial application segment is projected to grow at a higher rate in the concrete surface retarders market.

Increasing disposable income in developing countries, rapid urbanization, and increasing investments in infrastructure are some of the factors driving the concrete surface retarders market growth. Based on application, the commercial segment is estimated to account for a large share of the concrete surface retarders market in 2018. This segment is also projected to grow at a higher rate than the residential segment during the forecast period. The commercial market of concrete surface retarders is driven by the economic growth in developing countries, such as China, India, and Brazil. There is a high demand for concrete surface retarders from the commercial sector owing to their increasing use in transportation structures, bridge decks, sidewalks, curbs, and concrete segment joints, among others.

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MarketsandMarkets projects the concrete surface retarders market to grow from USD 72.7 million in 2018 to USD 89.4 million by 2023, at a CAGR of 4.2% from 2018 to 2023.

Based on raw material, the organic agents segment is projected to grow at a higher rate than the inorganic agents segment from 2018 to 2023. The growing demand for organic agents is attributed to their wide range of applications (in vertical and horizontal concrete surfaces) and cost benefits.

On the basis of type, the concrete surface retarders market has been segmented into water-based and solvent-based. The solvent-based segment is projected to grow at a higher rate during the forecast period, owing to the usage of solvent-based retarders in various applications, such as architectural facade elements, artificial stones, roughing of separating joints, and concrete cladding, among other applications. The growth can be further attributed to the abrasion-resistant and slip-resistant properties of solvent-based retarders.

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Europe is projected to be the fastest-growing region in the concrete surface retarders market. In terms of growth rate, Europe was followed by North America. The growth of the market in Europe is expected to be driven by the increasing number of new residential construction activities, growing demand for green building structures, and supportive government initiatives. Increasing demand for new residential units in urban areas, coupled with subsequent private and public sector investments in residential and infrastructural construction projects, is also expected to create growth opportunities for the concrete surface retarders market in the region.

Concrete surface retarders are chemical formulations that delay or retard the setting rate of the top surface (or mortar) of a freshly poured concrete. The top surface paste is removed later by various processes, such as pressure washing and hosing, to give an exposed aggregate finish to the concrete surface. The concrete surface retarders market is expected to be influenced by the growth trends in the construction industry. MarketsandMarkets projects the concrete surface retarders market to grow from USD 72.7 million in 2018 to USD 89.4 million by 2023, at a CAGR of 4.23% from 2018 to 2023. Factors such as increasing urban population, rising infrastructural investments, and growing demand for green buildings have propelled the growth of the global concrete surface retarders market. However, lack of awareness and varying government regulations across regions act as a challenge to the growth of the global concrete surface retarders market.
The key players in the concrete surface retarders market include Sika (Switzerland), BASF (Germany), MAPEI (Italy), GCP Applied Technologies (US), CEMEX (Mexico), W. R. Meadows (US), The Euclid Chemical Company (US), RussTech (US), Fosroc (UAE), and Parchem Construction Supplies (Australia). Developmental strategies adopted by the leading market players include acquisitions, expansions, divestments, and joint ventures.
Sika is a specialty chemicals company and a leading developer & manufacturer of products and systems for sealing, bonding, reinforcing, protecting, and sound damping in the construction and automotive sectors. Its expertise in the construction industry and wide presence across the globe help strengthen its position in the global concrete surface retarders market. Sika’s constant adoption of the acquisition and expansion strategies further enhances its global presence and strengthens its production capacity. In June 2018, Sika opened a production plant in Saudi Arabia for concrete admixtures, in order to strengthen its foothold in the Middle East. This expansion is expected to help the company increase its production capacity and optimize logistics by reducing the transportation costs incurred in serving the neighboring markets around the Persian Gulf. In April 2018, Sika also expanded its presence in Senegal, Africa by opening a concrete admixture factory. This expansion is expected to help the company increase its presence in the growing economy of Senegal and serve customers in West Africa.

BASF is one of the largest chemical manufacturing companies in the world. A leading supplier of construction chemicals, the company consistently focuses on providing innovative technologies and products to the construction market. The company has a strong regional presence with about 347 production sites operating in more than 80 countries across the globe. The company has a broad portfolio of products that serve about 130,000 customers from different sectors. Its broad range of concrete surface retarders serves the horizontal and vertical concrete surface applications. In May 2018, BASF inaugurated its first production plant in Yangon, Myanmar. This expansion is expected to serve the increasing demand for high quality, tailor-made concrete admixtures from the growing residential, industrial, and infrastructure construction sectors in Myanmar.

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