The global concrete admixture market value is expected to reach USD 33.6 billion by 2025, according to a new report by Grand View Research, Inc. Rising investment in the hospitality sector is expected to propel the market growth.
Major market players are implementing growth-through-acquisition strategy to increase their market presence. The market is observing a rise in strategic mergers among key industry players. For instance, the key merger of the concrete admixture market in 2016 is the strategic collaboration of the U.S. based Huntsman Corp and Clariant AG. This merger is anticipated to create a market value of USD 14 billion.
The concrete admixture is largely used in the construction processes for the building bridges, arches, tunnels, buildings, road slabs, and others. The construction sector growth is largely dependent on the emerging countries. Major events generate big infrastructure reforms. For example, Brazil witnessed heavy investment in infrastructure sector to uphold the Olympic games held in 2016. Similarly, Qatar is likely to see major growth in infrastructure development subjected to upcoming FIFA world cup in 2022.
The water reducing agents such as plasticizers and superplasticizers are anticipated to dominate the global concrete admixture market over the forecast period. The water reducing agents are used to reduce the water content in the concrete by 5% to 12%. The product is gaining prominence due to its distinct feature to reduce water content while maintaining workability of the concrete for easy placement and consolidation.
The global demand for concrete admixture market was USD 18.4 billion in 2016 and is expected to grow at a CAGR of around 7.0% over the forecast period to exceed a total revenue of over USD 33.6 billion by 2025.
Water reducing agents was the biggest segment in the market accounting for over 43% of the total revenue in 2016
Non-residential and infrastructure was the largest application segment with a demand of over USD 12.4 billion in 2016, growing at a CAGR of 6.7%
The APAC is expected to be the largest regional market with a projected CAGR of 8.5% over the forecast period
The industry is dominated by a few multinational corporations such as BASF SE, The Dow Chemical Company, and Sika AG. Companies are moving towards strategic mergers and acquisition to increase their international presence and gain significant market share.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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