Sarasota, FL -- (SBWIRE) -- 09/17/2018 -- According to the report, global concrete admixture market was valued at USD 13.90 billion in 2017 and is expected to reach USD 25.58 billion in 2024, growing at a CAGR of 9.10% between 2018 and 2024.

Admixtures are those ingredients in concrete (other than water, aggregates, Portland cement) which are added to the mixture directly before or during mixing. A suitable utilization of admixtures can provide assured beneficial effects to the concrete mixture. It includes acceleration or retardation of setting time, improved quality, enhanced finish ability, control of strength development, enhanced frost and sulfate resistance, and improved workability.

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The concrete admixtures are widely utilized in the residential constructions, social & commercial complexes, industrial amenities, and transportation infrastructure projects. The concrete admixture is utilized to alter the properties of concrete to make it more suitable for adding additional cement, water-cement ratio, changing the aggregate and aggregate gradation. The rising demand for concrete admixture is expected to boost the market's growth. Rising growth in infrastructure developments in the recent years, especially in the Asia Pacific region, is anticipated to be the prime driver for the growth of the concrete admixture market. Implementation of the government rules and regulations regarding quality constructions is encouraging the utilization of concrete admixtures thus driving the market growth. Sufficient raw material accessibility supports the market growth. The increasing infrastructure development projects in the emerging economies is the major key factor propelling the market growth. The variable prices of the raw materials may slow down the growth of the market.

Based on the type, the global concrete admixture market includes retarding agents, normal plasticizers, superplasticizers, waterproofing agents, air-entraining agents, accelerating agents, and others. In terms of value, the concrete admixture type is expected to grow at the highest CAGR within the forecast period. Superplasticizers concrete admixture is more preferable in multiple applications and had witnessed an increased demand in 2017. The retarding agents' type is the most widely used type of concrete admixtures. Infrastructure application segment is anticipated to grow at the fastest pace incorporating concrete admixtures because of rising demand for infrastructure projects. In terms of volume and value, superplasticizers and normal plasticizers are the major type of concrete admixtures that offers quality-based construction in the construction industry.

Based on applications, the global concrete admixture market is segregated into infrastructure, residential, and non-residential application. In 2017, infrastructure was the foremost application segment of the global concrete admixture market. It accounted for over 35% share of the total share of the market in 2017. Infrastructure was followed by residential and non-residential application segment. Moreover, infrastructure is expected to be fastest growing segment of the market over the forthcoming years due to the escalating infrastructural constructions, especially in developing countries including China, India, Korea, Africa, and Brazil. The cost-effectiveness of cement has lead to the development of upstream as well as downstream industries. Concrete admixtures are used in non-residential applications like commercial complexes and industrial amenities. The rising demand for concrete admixture is in the nonresidential applications. The concrete admixture is broadly used for infrastructure projects. Rising investments in infrastructure projects are projected to increase demand for the product in the future years. Enhancing the quality of construction in developing economies and rising demand for high buildings, bridges, roads, dams, and tunnels hold numerous chances for the concrete admixture market growth over the forecast period.

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In 2017, Asia Pacific was the largest market for concrete admixture. The Asia Pacific accounted for 30% plus a share of the global market in terms of value. Moreover, India and China are the rapidly growing market of concrete admixture in the near future. Moreover, government favorable policies in the region are anticipated to positively affect on the demand for concrete admixtures in the region. Country wise, China, India, Brazil, United Arab Emirates (UAE), Indonesia, and Malaysia are some of the predominant markets of concrete admixture.

The major players of the global concrete admixture market are BASF SE, SIKA AG, The Dow Chemical Company, W.R. Grace & Co., CICO Technologies Ltd., Cemex S.A.B. De C.V., Fosroc International Ltd., RPM International Inc., Ashland Inc., Pidilite Industries, Chryso S.A.S, and Mapei South Africa (PTY) Ltd., among others.

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