Concrete Admixtures Market Worth $23.0 Billion By 2027 | CAGR 4.8%

Concrete Admixtures Market Growth & Trends

The global concrete admixtures market size is expected to reach USD 23.01 billion by 2027 registering a CAGR of 4.8%, according to a new report by Grand View Research, Inc. The demand for admixtures is increasing on account of their superior properties, such as high strength, water reduction, retardation, and durability, which make them ideal for use in infrastructure components. The market growth is dependent on technological advancement and innovation in the construction industry related to chemicals, mixtures, and concrete used. Concrete admixtures are widely used in construction applications.

The COVID-19 pandemic has affected the construction sector, which will hamper the product demand. Moreover, fluctuations in the construction sector might directly affect market growth. The market value chain comprises raw material suppliers, manufacturers, distributors, and end-users, and the manufacturers are extremely dependent on the suppliers for raw materials. Key players, such as BASF SE and Sika AG, focus on maintaining and strengthening their market positions through R&D investments, development of sustainable products, agreements, acquisitions, and geographic expansions.

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Concrete Admixtures Market Report

Concrete Admixtures Market Report Highlights

• The air-entraining agents segment is expected to witness the fastest CAGR of 6.2% from 2020 to 2027 on account of properties of these admixtures, such as durability, ease of placing, and resistance to frost action
• Superplasticizer was the dominant product segment in 2019 and is projected to expand further at the fastest CAGR over the forecast period owing to the product’s water-reducing and early strength enhancement properties
• Asia Pacific is estimated to be the fastest-growing regional market at a CAGR of 6.1%, in terms of revenue, owing to rapid industrialization and potential market prospects
• Major manufacturers, such as Sika AG, emphasize R&D activities and the implementation of new technologies to gain a competitive edge.