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(EstateNewsWire.com, October 20, 2020 ) The report "Construction Additives Market by Type (Chemical (Plasticizers, Air-entraining, Waterproofing, Retarding agent), Mineral, Fiber), End-use Sector (Residential, Commercial, Infrastructure), and Region - Global Forecast to 2022", The construction additives market size is estimated to grow from USD 20.70 Billion in 2017 to USD 28.95 Billion by 2022, at a CAGR of 6.94%. The market is projected to witness significant growth in the next few years with increasing demand for new constructions due to rapid urbanization and industrialization with large-scale investments in commercial and infrastructure sectors. The rising number of construction activities in emerging economies and the increasing inclination toward sustainable construction methods are increasing the reliance on modern construction techniques, thus creating growth opportunities for the construction additives market.
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Commercial construction additives to gain maximum traction during the forecast period
The commercial sector dominated the market in 2016 and is projected to be the fastest-growing end-user sector in the next five years. As a result of rapid urbanization and industrialization, this market is mostly driven by the upward surge in the demand for new constructions across the world. The increasing public and private investment in the infrastructure sector of the emerging economies of Asia Pacific, the Middle East, and South America are drivers of this growth.
The chemical segment, by type, to account for the largest market share in 2016
The utilization of chemical concrete additives such as plasticizers, accelerating agents, retarding agents, air entraining agents, and waterproofing additives provide flexibility to the designers to modify and enhance the physical as well as chemical properties of concrete. The market for chemical additives is growing at the highest rate due to various factors that include compressive strength, durability, surface finish, and resistance to withstand adverse climatic and working conditions as per design specifications/requirements without compromising the quality of the concrete structure.
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Browse in-depth TOC on "Construction Additives Market”
131 - Market Data Tables
32 - Figures
154 - Pages
The Asia Pacific region accounted for the largest share of the construction additives market
Asia Pacific contributes a major market share in the global construction additives market. Due to the increasing industrialization as well as the population in China, Japan, and India, these countries are experiencing high demand for residential and commercial constructions. The rapid urbanization in these countries demands faster and cheaper construction of buildings and facilities without compromising on quality. Additionally, the increasing government investments in infrastructural constructions provide potential for the growth of the construction additives market in these countries.
The major players in the construction additives market include BASF (Germany), Sika (Switzerland), Dow (US), W.R. Grace (US), RPM International (US), CHRYSO (France), Evonik Industries (Germany), Mapei (Italy), Fosroc International (UK), and CICO Group (India).
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