The global Construction Additives Market is expected to reach USD 50.20 Billion by 2030, according to a new report by Reports and Data. Construction additives deliver the advantages of increased efficiency, high quality, and better finishing over conventional materials.
Increase in construction spending is one of the major factors expected to stimulate market demand. Surging demand for residential and non-residential buildings has a notable impact on the sales for construction additives, owing to their rising application in the flooring and walls of the buildings. Growing inclination among consumers for better and high-quality cement is estimated to fuel the product demand in the upcoming years, as cement additives are useful in increasing construction strength coupled with providing of improved chemical resistance, waterproofing feature, color, and high water reduction.
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Government initiatives to boost infrastructure development in developing nations are likely to drive product demand in the forecast period. This has resulted in the order book position of several construction players to be currently sufficient to offer medium-term revenue visibility. For instance, the Bharatmala Pariyojana project, by the Government of India, is a macro and corridor-based approach to development of roads, which caters to expansion as well as plugging of the existing infrastructure gaps and are likely to find enormous opportunities for the construction sector as it is the largest road development program in India.
The Asia Pacific is the largest revenue-generating regions in the market. The growth of the construction industry coupled with a rise in the level of disposable income of people in emerging economies, such as India and China, is causative of the market demand in the region.
Key participants include BASF SE, Sika, DOW, Chryso, W.R. Grace Co., RPM International, Evonik Industries, Mapei SPA, Fosroc International, and Cico Group, among others.
Further key findings from the report suggest
- By type, chemical additives contributed to the largest market share in 2018 and are expected to grow at a rate of 6.4% in the forecast period. These can enhance concrete quality, acceleration, or retardation of setting time, among other properties that could be altered to achieve specific results.
- By availability, inorganic products dominated the market in 2018 and are expected to grow at a rate of 5.6% in the period 2019-2026.
- Application of the product in commercial buildings held the largest market share in 2018 and is anticipated to witness the highest CAGR of 6.3% in the forecast period. The commercial building construction maintained its growth in 2018 steered by the increased investment in the commercial real estates, especially in developing nations.
- North America held the second-largest market share in 2018 and is expected to grow at a rate of 5.4% in the forecast period. The construction industry is a significant contributor to the U.S. economy. The industry has over 680,000 employers with more than 7.0 million employees and generates around USD 1.300 trillion worth of structures annually. Construction is one of the largest customers for mining, manufacturing, and several other services.
For the purpose of this report, Reports and Data have segmented the global construction additives market on the basis of type, application, availability, and region:
Type Outlook (Volume, Kilo Tons; 2019-2030 and Revenue, USD Million; 2019-2030)
- Chemical Additives
- Mineral Additives
- Fiber Additives
Application Outlook (Volume, Kilo Tons; 2019-2030 and Revenue, USD Million; 2019-2030)
- Commercial Buildings
- Residential Buildings
Regional Outlook (Volume, Kilo Tons; 2019-2030 and Revenue, USD Million; 2019-2030)
- North America
- Asia Pacific
- Latin America
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