The construction additives market size is estimated to be USD 20.70 billion in 2017 and projected to grow at a CAGR of 6.94% to reach USD 28.95 billion by 2022
NEW YORK, Dec. 21, 2017 /PRNewswire/ -- Construction additives market projected to grow at a CAGR of 6.95%
The construction additives market size is estimated to be USD 20.70 billion in 2017 and projected to grow at a CAGR of 6.94% to reach USD 28.95 billion by 2022. The market is driven by factors such as the increasing urban population, increasing industrialization, and large-scale investments in the commercial and infrastructure sectors. The construction industry is evolving continuously; huge differences are witnessed in the structures built today as compared to the ones built over a decade ago.
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The changing lifestyles, rapid urbanization trend, and the demand for enhanced aesthetics for residential, commercial, and infrastructure have forced architects and engineers to innovate the design of concrete structures suited for various applications and requirements. On the flipside, tight project completion deadlines and the increasing variable costs of construction present a challenge for efficient execution of the construction projects. Construction additives offer the benefits of high quality, increased efficiency, and better finishing. Lack of awareness regarding construction additive techniques and their benefits, along with unstable costs of raw material might restrain the demand for this type of construction technique.
The chemical segment held a larger share of the construction additives market
The chemical segment is estimated to dominate the construction additives market and is projected to be the fastest-growing type during the forecast period. This growth can be attributed to factors such as keen interest from contractors and builders in using chemical additives across residential and commercial construction sectors, due to various properties such as enhancing the workability of the concrete, reducing the required quantity of cement, making concrete economic, and imparting strength to the concrete
Asia Pacific region is expected to witness steady growth during the forecast period
The Asia Pacific market is projected to be the fastest-growing during the forecast period. The major factor driving the growth of the market is the large-scale government investments in the infrastructure sector in this region. Additionally, the increasing population and rising income accelerate the per capita spending on construction. The markets of China and Japan are projected to be lucrative due to their ongoing and upcoming infrastructural construction projects as well as the rising consumer spending on the construction sector.
Breakdown of Primaries
Primary interviews were conducted with a number of industry experts to collect data related to different aspects of the construction additives market. Estimates reached after analyzing the secondary sources were validated through these interviews. Primary sources included professionals such as constructors, concrete suppliers, additives manufacturers, distributors, consultants, and academic professionals.
The distribution of primary interviews is as follows:
By Company Type: Tier 1 –35%, Tier 2 – 30%, Tier 3 – 35%
By Designation: C-Level – 65%, Manager Level – 35%
By Region: Europe – 28%, North America– 25%, Asia Pacific – 22%, Middle East & Africa – 15%, and South America – 10%
Note: The tier of the companies is defined on the basis of their total revenue as of 2015.
Tier 1: Revenue > USD 10 billion; Tier 2: USD 1 billion > Revenue > USD 10 billion; Tier 3: Revenue < USD 1 billion
The various key players profiled in the report are as follows:
1. BASF (Germany)
2. W.R. Grace (US)
3. RPM International (US)
4. Fosroc International (UK)
5. Dow (US)
6. Sika (Switzerland)
7. Mapei (Italy)
8. Fritz-Pak (US)
9. PAC Technologies (UAE)
10. Thermax Global (India)
11. ATPL (Canada)
12. Concrete Additives & Chemicals (India)
13. INNUA (US)
14. Berolan (Germany)
15. Hupan (China)
16. Hycrete (US)
17. Krete Industries (US)
Research Coverage
The segmentation considered for this report is based on type, end-use sector, and region that constitute the key markets. In terms of type, chemical additives held the largest share, in terms of value; it is projected to grow at the highest CAGR. Factors such as ongoing infrastructural construction activities in emerging economies and rise in the number of new building constructions, globally, are expected to drive the demand for construction additives during the forecast period. On the basis of end-use sector, this market has been categorized into residential, commercial, and infrastructure. The commercial sector is projected to grow at the highest CAGR during the forecast period, due to the rising public and private investments in the sector in the emerging economies of Asia Pacific, the Middle East, and South America.
Reasons to buy the report
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the construction additives market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. The report will help stakeholders to understand the market and will provide them information on the key market drivers, restraints, opportunities, and challenges.
3. This report will help stakeholders to understand their competitors better and gain more insights into their position in the business. The competitive landscape section includes new product developments, acquisitions, agreements, partnerships, and expansions.
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