Construction Additives Market to Grow with a CAGR of 6.26% through 2028
Surge in research and development activities is expected to drive the Global
Construction Additives Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Construction
Additives Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Construction Additives
Market stood at USD 22.87 billion in 2022 and is anticipated to grow with a CAGR
of 6.26% in the forecast period, 2023-2028. The initiatives taken by government
based on construction additives has led to favorable market conditions for the Global
Construction Additives Market. Several factors contribute to the growth of
various construction additives products. In an unprecedented move aimed at
promoting domestic industries and reducing carbon emissions, the U.S.
government has recently announced a groundbreaking policy. This policy
prioritizes the use of American-made, lower-carbon construction materials in federal
procurement. By doing so, the government aims to not only support local
manufacturers but also contribute to a greener and more sustainable future. As a result of
this bold initiative, there is expected to be a significant increase in the
demand for construction additives. These additives play a crucial role in the
production of lower-carbon materials, which align with the government's vision
of reducing environmental impact. By incorporating these additives into
construction processes, the resulting materials exhibit improved performance,
durability, and sustainability.
Governments
around the world have long recognized the importance of regulating the
construction sector to ensure environmental sustainability and safety. These
regulations often mandate the use of specific construction additives, which
have proven to enhance the overall quality of construction materials. By
enforcing such regulations, governments aim to create safer structures while
minimizing the negative impact on the environment. With the U.S. government's
latest commitment to prioritizing lower-carbon materials and the use of
construction additives, the construction industry is poised for a
transformative shift towards a more sustainable future. This presents an
exciting opportunity for manufacturers, innovators, and stakeholders to
contribute to a greener and more resilient built environment.
Browse over XX
market data Figures spread through XX Pages and an in-depth TOC on "Global
Construction Additives Market”
There is a
rapidly growing demand in the construction industry for eco-friendly additives
that not only enhance performance but also minimize harm to the environment.
This surge in demand has spurred extensive research and development efforts
aimed at creating sustainable and green construction additives. The urgent need
for sustainability in construction practices is not merely a passing trend; it
is a vital response to the escalating environmental concerns surrounding the
industry. By prioritizing eco-friendly solutions, we can pave the way for a
more environmentally conscious and responsible future in construction.
The Global
Construction Additives Market is segmented into type, end user, regional
distribution, and company. Based on its type,
the chemical additives segment held the largest share in the market. Chemical
type additives encompass a wide variety of additives, including a diverse range
of concrete admixtures, asphalt additives, polymer flooring, protective
coatings, adhesives, and sealants. The demand for chemical adhesives is
primarily fueled by the constantly improving standards in the building
construction markets. These chemical compounds offer several advantages such as
lower water content and enhanced workability, making them highly sought after
in complex reinforcement models. As a result, the market for chemical type
segments is expected to witness substantial growth over the forecast period,
driven by these factors and the increasing applications of chemical compounds
in various industries.
Based on region, Asia Pacific segment is expected to
grow during the forecast period.
The construction market in the Asia Pacific region
holds the distinction of being the largest in the world, accounting for a
staggering 65% of the global cement production. Among the countries in this
region, China takes the lead in the APAC construction additives market during
the forecast period. This can be attributed to the surge in both new
construction projects and improvement and repair endeavors, which in turn
necessitates a higher volume of additives to enhance construction quality.
Notably, China benefits from a large and cost-effective labor force,
translating to reduced construction costs and a decreased need for more
durable, additive-fortified concrete structures.
Apart from China, India also plays a significant role
in the APAC construction additives market, holding the second largest market
share in 2022. This trend is expected to continue over the forecast period,
primarily due to the government's active efforts to divert investments into
construction projects. India, with its substantial inventory of unoccupied
housing stock and non-residential facilities, sees a limited requirement for
new buildings. Nonetheless, this scenario fuels the demand for construction additives,
as they are crucial in enhancing the quality and performance of existing
structures.
Major companies operating in Global Construction
Additives Market are:
- Dow Chemical Company
- BASF SE
- MAPEI SpA
- Sika AG
- W.R. Grace and Company
- RPM International Inc.
- Thermax Limited
- Hycrete, Inc.
- Concrete Additives and Chemicals Private
Limited
- Evonik Industries AG
Download Free Sample Report
Customers can also request for 10%
free customization on this report
“Growing application of construction additives in
various end user industries are key drivers of the construction additives market.
Growth in competitive landscape and presence of well-established companies in
the market who are dedicated to enhance their productivity of construction additives
with every passing year are anticipated to register an impressive growth to Global
Construction Additives Market in the forecast period.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Construction Additives Market By Type (Mineral
Additives, Chemical Additives, Fibre Additives), By End User (Commercial,
Residential, Infrastructural), By Region, By
Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Construction Additives Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Construction Additives Market.
Contact
TechSci Research LLC
420 Lexington Avenue,
Suite 300, New York,
United States- 10170
M: +13322586602
Email: [email protected]
Website: https://www.techsciresearch.com