Concrete Admixtures Market worth $24.0 billion by 2024 | Key Players include BASF SE, SIKA AG, GCP Applied Technologies, RPM International Inc., Fosroc International Inc., Mapei S.P.A

According to recent market research "Concrete Admixtures Market by Product Type (Superplasticizers, Normal Plasticizers, Accelerating, Retarding, Air-entraining, Water-proofing), End-Use Sectors (Residential, Commercial and Infrastructure), Region - Global Forecast to 2024", is projected to grow from USD 15.4 billion in 2019 to USD 24.0 billion by 2024, at a CAGR of 9.3%, during the forecast period.

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The global concrete admixtures market size is projected to grow from an estimated value of USD 15.4 billion in 2019 to USD 24.0 billion by 2024, at a CAGR of 9.3%, between 2019 and 2024. The market has been segmented on the basis of product type, end-use sector, and region.

Concrete admixtures have found wide acceptance in the construction industry. The utilization of concrete admixtures (such as superplasticizers, accelerating agents, retarding agents, air-entraining agents, and water-proofing admixtures) provide flexibility to designers to modify and enhance the physical as well as chemical properties of concrete. This includes compressive strength, durability, surface finish, and resistance to withstand adverse climatic and working conditions as per design specifications or requirements without compromising the quality of the concrete structure.

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The global concrete admixtures market size is projected to grow from USD 15.4 billion in 2019 to USD 24.0 billion by 2024, at a CAGR of 9.3%, between 2019 and 2024. The major driving factors in the concrete admixtures industry are increasing population, rising infrastructure requirements in developing economies, improvement in the economics of construction like reduction in water usage and construction time, and rapid urbanization.

The key concrete admixtures market players are BASF SE (Germany), SIKA AG (Switzerland), GCP Applied Technologies (US), RPM International Inc. (US), Fosroc International Inc. (UK), Mapei S.P.A (Italy), CICO Technologies Ltd. (India), CHRYSO S.A.S (France), Concrete Additives and Chemicals Pvt. Ltd. (India), Rhein-Chemotechnik GmbH (Germany), Weber Saint-Gobain (France), Polisan Kamya San. A.S. (Turkey), Sahngdong Wanshan Chemical Co. Ltd. (China), Sakshi Chem Sciences Pvt. Ltd. (India), Fritz-Pak Corporation (US), Fuclear Technologies Inc. (Canada), Ha-Be Betonchemie (Germany), Lanya Concrete Admixtures (China), MUHU (China) Construction Materials Co. Ltd. (China), and Cormix International Ltd. (Thailand). These players have adopted growth strategies, such as new product development, merger & acquisition, and investment & expansion to expand their global presence, and broaden their product portfolio, in the concrete admixtures market.

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BASF SE (Germany) is the world’s leading chemical manufacturing company and has a diversified product portfolio with several investments in product innovation. It has companies in more than 90 countries and operates six verbund sites and 355 additional production sites, globally, to meet the demand of customers. Its efficient network of production plants and sales & distribution network have helped the company to maintain its leading position in the concrete admixtures market. It has spent USD 2.4 billion on R&D out of which 20% was allocated for R&D in the functional materials & solutions business segment. This led to the launch of a number of new formulations of concrete admixture products. The company continuously focuses on its organic growth. In March 2019, BASF launched Melflux SELECT 4411 F, a polycarboxylate ether-based concrete admixture. It comes in powder form, which enables long duration slump retention. This new product will cater to dry-mix concrete consumers. Such strategies will boost the growth of the company and, also, its concrete admixture business, globally.

The second-most active company in the concrete admixtures market is Sika AG (Switzerland). It is a manufacturer and supplier of specialty chemicals for the construction and automotive industries. It is a leading provider of processing materials used in sealing, damping, bonding, reinforcing & protecting load-bearing structures in the construction industry. Sika has a strong customer base and a wide geographical presence. It has subsidiaries in 101 countries and 300 manufacturing facilities, globally. The company has good depth in its product portfolio. There have been high investments by the company in terms of product innovation. It continuously focuses on organic and inorganic growth for concrete admixture systems. The company has adopted organic and inorganic growth strategies, such as investment & expansion and merger & acquisitions. In 2018, it established 20 global technology centers, 37 new manufacturing plants, 11 subsidiaries, and completed 20 acquisitions, globally. These developments are expected to help the company achieve significant share in the concrete admixtures market. The company is continuously focusing on organic and inorganic growth strategies, which are expected to increase its presence and revenue, globally. As a part of inorganic growth, Sika acquired Parex (Paris), a leading mortar manufacturer with an impressive track record of profitable growth and attractive margins in May 2019. This acquisition strengthened Sika’s market position and expanded the product portfolio of the building finishing market, further strengthening its world leader position in construction chemicals.

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