Concrete Admixture Market Analysis by Growth Drivers and Current Trends till 2024

Global Concrete Admixture Market Report added by Global Market Insights offers industry size, share, growth, trends and forecast analysis up to 2024. Concrete Admixture Market Report also covers top key players, porters five forces analysis and market segmentation in detail. This report examines the global Concrete Admixture market and provides information regarding the revenue for the period 2019 to 2024.

The exponential growth that concrete admixture market has witnessed lately can be aptly credited to not only the soaring global construction industry but also the concerns about water consumption. The construction industry has long since debated regarding the issue of water consumption – a problem which has been fractionally resolved by the use of concrete admixtures. Using this product is not only beneficial in terms of strengthening and waterproofing concrete, but also because it replaces the use of large volumes of water which had been a rather irreplaceable part of construction prior to the use of concrete admixtures.

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The issue has become even more intense post the Business Council for Sustainable Development’s launch of the Cement Sustainability Initiative in 2014 to track the use, recycling or discarding of water in the construction industry. Indeed, CSI was a major initiative in raising awareness about addressing the staggering consumption of water in the construction industry and opened a growth avenue for the use of modern technology in lowering water usage. In consequence, this has had a commendable impact on concrete admixture industry size, pegged at USD 18 billion in 2016.

As per authentic estimates, over 30 billion tons of Portland cement-based concrete were produced in 2011. Ideally, the water to cement ratio in a typical concrete preparation can vary between 0.35 to 0.40 ton of water for each ton of cement. This leads to the estimation that 1.3 to 1.5 billion tons of water is annually consumed during the chemical production of concrete. Curing of concrete may require up to 28 days and during this time, more water is added to the concrete to offset water loss through evaporation. This further adds to the water consumption of ordinary Portland cement and the annual estimate of water consumption ends up between 2.15 to 2.6 trillion liters. These figures provide a clear evidence of why the current situation desperately demands the use of concrete admixtures. Undeniably, the increased use of the product can drastically reduce the water scarcity problem the construction industry faces as of today.

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Speaking from a regional perspective, it is noteworthy to state that the construction industry has registered the most commendable growth across the Asia Pacific turf, owing to the population explosion in India and China. The emerging middle-class populace has further stimulated the demand for massive residential construction, making APAC one of the most viable regions for concrete admixture market. Indeed, Asia Pacific accounted for 40% of the overall concrete admixture market share in 2016 and is expected to hold a commendable proportion of the revenue by 2024. Significant investments in new construction projects have also been made across Southeast Asian regions such as Indonesia and Malaysia. Inevitably, the construction industry has been expanding across most of the APAC geographies, adding to the growth of concrete admixture market across this continent.

While regular admixtures possess exceptional water reducing capabilities, it is important to note that different types of concrete admixtures can attribute different favorable qualities to concrete. This ranges from waterproofing to air entrainment to shrinkage reduction – a range of beneficial characteristics that has helped expand the scope of concrete admixture industry. Due to the sheer size of the construction industry, the use of sustainable technology and materials is also being enforced by regulatory bodies to save the planet from increased greenhouse gases and water scarcity. Concrete admixture market thus, is coming to play an increasingly important role in enhancing the sustainable concrete industry. By 2024, analysts predict concrete admixture market size to surpass a whopping $38 billion.

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