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Polycarboxylate Ether Market 2024 - By Industry Analysis, Future Prediction, Business Overview And Forecast To 2033
Polycarboxylate Ether Market
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According to The Business Research Company's, The polycarboxylate ether market size has grown strongly in recent years. It will grow from $11.14 billion in 2023 to $11.87 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to increased infrastructure projects, increased demand for ready-mix concrete, increased demand for eco-friendly concrete, and growth of the urban population.
The polycarboxylate ether market size is expected to see strong growth in the next few years. It will grow to $15.43 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to growing construction industry, rising need for durable infrastructure, growing adoption of ready-mix concrete, and expansion of the precast concrete industry. Major trends in the forecast period include technology-driven manufacturing processes, technology in concrete admixtures, developing smart concrete solutions, integration with digital construction tools, and innovation in ultra-high-performance concrete.
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Market Drivers and Trends:
The increasing demand from the construction industry is expected to propel the growth of the polycarboxylate ether market going forward. The construction industry refers to the sector of the economy involved in the design, building, and maintenance of structures, including residential, commercial, and industrial facilities. Demand from the construction industry is increasing due to rapid urbanization, which drives the need for housing and infrastructure, alongside significant government investments in infrastructure development. Polycarboxylate ether (PCE) is helpful for the construction industry as it acts as a high-performance superplasticizer, enhancing the workability of concrete while reducing water content. For instance, in May 2024, according to the Office for National Statistics, a UK-based government department, total new construction orders rose by 15.9%, amounting to £1,436 million ($1,913 million) in Quarter 1 of 2024 compared to Quarter 4 of 2023. Therefore, an increasing demand from the construction industry is driving the polycarboxylate ether market.
Major companies operating in the polycarboxylate ether market are focusing on developing innovative solutions, such as bio-sourced admixtures, to meet growing sustainability demands and enhance performance in construction applications. Bio-sourced admixtures are construction additives derived from renewable biological materials that enhance sustainability and performance while reducing the environmental impact of concrete and other building materials. For instance, in January 2023, CEMEX S.A.B. de C.V., a Mexico-based building material company, launched a pioneering range of bio-sourced admixtures designed to significantly reduce the carbon footprint of concrete by up to 70% compared to traditional oil-based admixtures. The new products, which include concrete plasticizers, superplasticizers, and grinding aids, utilize natural, renewable, and locally sourced raw materials to enhance performance while minimizing environmental impact. These bio sourced admixtures, which are part of CEMEX's Vertua portfolio of sustainable building solutions, are expected to be rolled out across Europe.
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Major Key Players of the Market:
BASF SE, Dow Chemical Company, Evonik Industries AG, Cemex S.A.B. de C.V, Arkema SA, Kao Corporation, Sika AG, Nouryon, Sobute New Materials Co Ltd., Himadri Speciality Chemical Ltd., Liaoning Oxiranchem Inc., Mapei S.p.A., Euclid Chemical, Chembond Chemicals Ltd., Hangzhou Lans Concrete Admixture Inc., MUHU (China) Construction Materials Co Ltd., Sodamco-Weber, Sintez OKA Group, Sakshi Chem Sciences, Kashyap Industries, Allbiz Ltd., Hi-Bond Chem Pvt. Ltd., Shijiazhuang Chang'An Yucai Building Material Co Ltd., Sure Chemical Co Ltd
Polycarboxylate Ether Market 2024 Key Insights:
• The polycarboxylate ether market size is expected to see strong growth in the next few years. It will grow to $15.43 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
• Role Of Polycarboxylate Ether In Construction Activities
• Innovative Bio-Sourced Admixtures To Reduce Concrete's Carbon Footprint
• Asia-Pacific was the largest region in the polycarboxylate ether (PCE) market in 2023
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