Construction Additives Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2034
Page: 215 | Report Code: CM240920 | Research Suite: Report (PDF) & Market Data (Excel)
Construction additives are chemicals and minerals that are
added to construction materials such as concrete, mortar, and cement during
construction to enhance their properties.
These additives often come in liquid or powdered form and
are essential to modern construction methods for enhancing the overall quality,
strength, durability, workability, and resistance to environmental elements
like heat and water. These characteristics makes it more suitable for specific
applications and conditions
MARKET
OVERVIEW
The construction additives market is valued at approximately USD 33 billion in 2023 and is projected to reach USD 69.46 billion by 2034 exhibiting a compound annual growth rate (CAGR) of 7.0% during the forecast period of 2024-2034. It is one of the most used techniques for antigen detection and purification. They ensure constant quality throughout the curing and mixing procedures, which improves the finished outcome.
GROWTH
DRIVERS
Construction activity has surged because of the worldwide
urbanization trend, especially in developing nations. Governments are spending
significantly on building public transportation networks, highways, and
bridges. For instance, in 2022, the central governments of the G20 committed
around USD 1 trillion to infrastructure investment, or 1% of the G20 GDP
overall. The demand for construction additives is directly increased by this
increase in construction activity.
The construction additives industry is mostly driven by
technological improvements. Innovative solutions that improve concrete
performance and lessen environmental effect, like eco-friendly additives comprised
of recycled or biobased materials, are becoming increasingly popular. For
instance, in September 2023, Mapei, with the addition of two cleaners and two
protective treatments, extended their UltraCare range, which focuses on
protecting, maintaining, and caring for surfaces.
MARKET
SEGMENTATION:
By Type
-
·
Chemical
o Plasticizers
o Air-Entraining
o Water
Proofing
o Retarding
Agent
·
Mineral
·
Fiber
By
Solution –
·
Cement Additives
·
Concrete Admixtures
·
Paint and Coating Additives
·
Sealant Additives
·
Plastic Additives
·
Others
By End
User –
·
Residential
·
Commercial
·
Infrastructure
By
Region -
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East and Africa
Construction
Additives Market By Type Segment Review:
The market for construction additives was dominated by the
chemical segment due to their ability to enhance the properties of concrete and
other building materials. Demand for high-performance concrete that is
resistant to harsh conditions is rising as infrastructure projects become more
complex and demanding. Superplasticizers, and retarders are examples of
chemical additions that increase workability, strength, and durability.
The mineral segment in the construction additives market is expected to grow significantly due to its ability to improve the durability and compressive strength of concrete mixtures, making them suitable for various applications including heavy-duty pavements and industrial floors.
Construction
Additives Market By Solution Segment Review:
Materials added to cement to improve its characteristics are
called cement additives. Global infrastructure developments and rapid
urbanization have increased the demand for cement additives. The market is
further driven by increasing sustainable construction practices to reduce
carbon footprint.
The adoption of concrete admixtures has been driven by the
requirement for strong, long-lasting concrete in building projects.
Construction
Additives Market By End User Segment Review:
The construction additives market is dominated by
residential sectors because of the growing urban population. The requirement
for housing continues to rise as more people move into cities, which in turn
raises the usage of building additives to improve the caliber and longevity of
residential buildings. Its market is further fueled by rising disposable
income, and growing emphasis on sustainable building practices.
Construction
Additives Market By Region Segment Review:
The market is anticipated to be dominated by Asia Pacific
due to rapid urbanization and significant economic development. The
Asia-Pacific region is expected to grow at the highest rate during the forecast
period due to expanding infrastructure projects aimed at improving housing
quality and infrastructure standards.
Construction
Additives Market Regional Synopsis:
The construction additives market in the Asia Pacific region
is primarily driven by tremendous economic expansion and rapid urbanization.
These additives are in high demand in the region because of the growing need to
build infrastructure, commercial buildings, and residential buildings due to
urban population growth.
In North America, the market is expanding due to a rise in
both residential and commercial building projects. The preference for
renovating already-existing buildings as opposed to constructing new ones has
increased demand for premium materials that have been upgraded with additives.
The population expansion and patterns of rural-to-urban
migration, which raise demand for housing and commercial space, are the main
drivers of market growth in Europe. The focus on sustainability has raised
awareness of environmentally friendly building methods, such as innovative
additives that enhance material properties.
The market for construction additives is progressively
growing in Latin America due to urbanization and rising disposable incomes. As
cities expand and populations grow, there is a growing demand for better
housing options and infrastructure that utilize advanced materials enhanced by
additives.
The Middle East & Africa region shows potential for growth within the construction additives market because of infrastructural developments supported by government funding aimed at enhancing public transport systems, roads, and buildings.
Construction
Additives Market Key Challenges:
The construction additives sector is highly dependent on
several different raw materials, including polymers, cement, and other
chemicals. Variations in the cost of these commodities are capable of having a
big impact on manufacturing expenses. It is challenging for manufacturers to
maintain consistent pricing strategies since this volatility frequently results
in uncertain end-product prices.
The market's evolution has led to an increase in competition
from alternative materials that eliminate the necessity of using traditional
construction additives. For example, advancements in technology have led to the
development of high-performance concrete mixes that are able to reduce or end
the need for certain additives. Due to this trend, the requirement of constant
innovation to stay relevant becomes a challenge for manufacturers of additive
manufacturing.
Construction
Additives Market Competitive Landscape:
The global market for construction additives is
characterized by a competitive environment that includes a mix of global and
regional players striving to enhance their market presence through various
strategic initiatives such as mergers, acquisitions, product innovations, and
expansions.
The key players are concentrating on developing new products
that meet specific needs in the construction industry. This includes
performance-enhancing, environmentally friendly additives derived from recycled
or biobased resources that minimize their negative impact on the environment.
Companies are actively acquiring smaller firms to expand
their product portfolio and geographical reach. For instance, in March 2024,
Sika acquired Kwik Bond Polymers, LLC (KBP) to enhance their capabilities in
polymer systems for concrete refurbishment.
Construction
Additives Key Players:
·
Evonik
·
MAPEI
·
Forsoc International
·
BASF SE
·
Cico Group
·
Chryso Group
·
Sika AG
·
ARKEMA
·
Chembond Chemicals Limited
·
RPM International
· Other Key & Niche Players