What’s Driving the Concrete Admixture Market Trends? CEMEX, BASF, Bostik, Sika, MAPEI, Dow, Euclid Chemical
Sturdy rise in the construction sector, mainly in India, China, Indonesia and Malaysia is attributed to industrialization and urbanization in these regions, which is probable to make significant impact on the concrete admixture market during the forecast period. For instance, in India USD 2.4 billion project is currently under progress to build the Navi Mumbai International Airport which commenced in March 2015 and is expected to be completed till 2019. Similarly, in China the expansion project of Beijing airport that is expected to be completed by 2025 will surely surpass Dubai's Al Maktoum Airport in total square miles, cost, and plane & passenger capacity.
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Several other ongoing construction activities globally will drive the concrete admixture market in the forecast span. These products are used in the production of concrete, which helps in improving its properties based on its applications. Several concrete admixtures available in the market are water reducers, air-entraining agents, superplasticizers, fly ash, etc. These admixtures possess excellent properties which includes durability, workability and strength of a given concrete mixture. Concrete Admixture Market is forecast to exceed USD 38 billion; according to a new research report by Global Market Insights.
Latin America concrete admixture market is probable to witness gains close to 8% during the forecast period. Countries including Colombia, Argentina, Bolivia, Peru, Chile and Uruguay strongly need to improve their infrastructure including roads, houses, bridges, etc. Government in the aforementioned countries are making substantial investment in the construction sector. For instance, in Bolivia, an investment of around USD 588 million has been made for developing a road stretch of 493 km. Several other development projects in the region will advance the concrete admixture market during the forecast timeframe.
Air entraining concrete additive market is projected to witness gains of more than 8.5% by 2024. Air entraining mixture creates air bubble in the concrete which act as rollers and helps in improving the workability. These admixtures are also very effective in freeze thaw cycles and provide cushion effect on the expanding water while concreting in cold climate. The application of this admixture on hardened concrete is quite complex to attain the correct level of air pressure. It improves concrete structure durability by enhancing its firmness and cohesion which will help augment product demand, and subsequently will drive concrete admixture market by 2024.
Concrete admixture market by application:
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Non-residential applications for the concrete admixture market accounted for over 25% of the global industry share in 2016. Non-residential applications include buildings, medical centers, education hubs, retail shopping centers, etc. Rising infrastructure activities primarily in the Asia Pacific will help attain promising gains to concrete additive market over the forecast span. For example, Laos and China signed an agreement in March 2018 for the implementation of building China-aided Mahosot hospital to modernize medical services in the region.
The major concrete admixture market share is divided among:
1. RPM International
5. CICO Group
8. Euclid Chemical
The abovementioned organizations are spending heavily on their R&D to expand their range of available products. For instance, Sika Group had launched a sustainable admixture named Sika Viscocrete GR 5000 in Qatar in 2016. It is mainly due to the green initiative policies being adopted in Europe to achieve more cost effective and environment friendly construction techniques.
Related News: https://www.globenewswire.com/news-release/2018/02/26/1387131/0/en/Concrete-Admixture-Market-to-cross-38bn-by-2024-Global-Market-Insights-Inc.html
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