Concrete Admixtures Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Concrete Admixtures Market is segmented by Function (Water Reducer, Retarder, Accelerator, Air Entraining Admixture, Viscosity Modifier, Shrinkage Reducing Admixture, High Range Water Reducer, and Other Functions), Construction Sector (Commercial, Residential, Infrastructure, and Industrial and Institutional), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Market Snapshot

Concrete Admixtures Market Overview
Study Period: 2016-2026
Base Year: 2020
Fastest Growing Market: Middle East and Africa
Largest Market: Asia Pacific
CAGR: >6 %
Concrete Admixtures Market Major Players

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Market Overview

The concrete admixtures market was estimated at around USD 13,500 million in 2020, and the market is projected to register a CAGR of over 6% during the forecast period (2021-2026).

The market was negatively impacted due to COVID-19 in 2020. Owing to the pandemic scenario, several countries across the world went into lockdown to curb the spreading of the virus. The construction works were halted, and also supply chain disruptions and labor shortages further affected the construction sector. This negatively affected the demand in the concrete admixtures market. However, the condition is expected to recover in 2021, which is likely to benefit the market studied during the forecast period.

  • Over the short term, the increasing construction of tall buildings and the recovering construction sector in China is expected to drive the market's growth.
  • On the flip side, the negative impact of the COVID-19 pandemic is hindering the market's growth.
  • Growth opportunities in Middle-East and Africa are likely to act as a growth opportunity for the concrete admixtures market in the future.
  • The Asia-Pacific region has accounted for the major market share across the world, owing to the high constructional activities in China, India, and ASEAN countries.

Scope of the Report

The concrete admixtures market report is segmented by function, construction sector, and geography. By function, the market is segmented by water reducer, retarder, accelerator, air entraining admixture, viscosity modifier, shrinkage reducing admixture, high range water reducer, and other functions. By the construction sector, the market is segmented by commercial, residential, infrastructure, and industrial and institutional. The report offers the market size of and forecasts for 16 countries across major regions. For all the segments, the market sizing and forecasts have been done on the basis of revenue (USD million).

Function
Water Reducer (Plasticizer)
Retarder
Accelerator
Air Entraining Admixture
Viscosity Modifier
Shrinkage Reducing Admixture
High Range Water Reducer (Super Plasticizer)
Other Functions
Construction Sector
Commercial
Residential
Infrastructure
Industrial and Institutional
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Residential Construction Sector to Dominate the Market

  • Growth in population, migration from hometowns to service sector clusters, and the growing trend of the nuclear family are factors that have been driving residential construction across the globe. Besides, decreasing land to population ratio and the growing trend of constructing high-rise residential buildings and townships have been driving the application of concrete admixtures in the residential construction segment across the globe.
  • In the recent past, the highest growth rate regarding residential construction was expected to be registered in the Asia-Pacific region, owing to the expanding housing construction market in China and India. Asia-Pacific has the largest low-cost housing construction segment, led by China, India, and various Southeast Asian countries. However, with most of the Asia-Pacific countries being severely affected by COVID-19 on a large scale, the growth is expected to notably slower down in the short run.
  • Globally, there has been a significant undersupply to meet the demand for housing. This presented a major opportunity for the investors and developers to embrace the alternative methods of construction and new partnerships in order to bring forward development. For instance:
  • In India, in November 2019, the Union Cabinet approved setting up an Alternative Investment Fund (AIF) of INR 25,000 crore (USD 3.58 billion) to revive about 1,600 delayed housing projects across the top cities in the country. Besides that, Puravankara Ltd. planned an investment of about INR 850 crore (USD 121.6 million) for the development of three ultra-luxury residential projects in Chennai, Bengaluru, and Mumbai, over the next four years. The government is also pushing huge projects in the next few years. The government’s ‘Housing for All’ initiative aims to build more than 20 million affordable homes for the urban poor by 2022. This will provide a significant boost to residential construction.
  • In Southeast Asia, Indonesia is one of the largest and fastest-growing residential construction markets. Moreover, the Indonesian government has started a program to build about one million housing units across Indonesia, for which the government has allocated about USD 1 billion in the budget.
  • In Canada, various government projects, including the Affordable Housing Initiative (AHI), New Building Canada Plan (NBCP), and Made in Canada, have been supporting the expansion of the sector.
  • The above-mentioned factors are likely to significantly impact the demand for concrete admixture in the residential construction sector during the forecast period.
Concrete Admixtures Market Revenue Share

In the Asia-Pacific Region, China to Dominate the Market

  • In the Asia-Pacific region, China is the largest economy in terms of GDP. The country witnessed about 6.1% growth in its GDP during 2019, even after the trade disturbance caused due to its trade war with the United States. China's economic growth rate in 2020 was initially expected to be moderate compared to the previous year. However, due to the onset of COVID-19 in 2020, China's economic growth reduced to 1.90%, and it is expected to witness recovery at a rate of 8.20% in 2021.
  • The construction industry grew at a strong pace in 2019, even though the growth slowed down during the year, compared to 2018. The construction sector has supported the economic growth in the country, while the US-China trade war affected the performance in other industries, such as automotive.
  • According to the National Bureau of Statistics of China, the revenue generated by the Chinese construction industry has increased from CNY 17.67 trillion in 2014 to CNY 24.84 trillion in 2019.
  • Rising household income levels, combined with population migrating from rural to urban areas, are expected to continue to drive demand for the residential construction sector in the country. ​
  • Increased focus on affordable housing by both the public and private sectors is also driving the growth in the residential construction sector.
  • The country is investing USD 1.43 trillion in the next five years till 2025 in major construction projects. According to National Development and Reform Commission (NDRC), the Shanghai Plan includes the investment of USD 38.7 billion in the next three years, whereas Guangzhou has signed 16 new infrastructure projects with an investment of USD 8.09 billion.
  • Even non-residential infrastructure is also expected to grow considerably. The aging population in the country is creating demand for the construction of healthcare facilities and new hospitals. The structural changes happening in the Chinese economy in the past few years as the service sector is taking a larger and larger share in the total GDP has given rise to the construction of huge commercial and office spaces.
  • All the aforementioned factors are expected to boost the demand for concrete admixtures in the country.
Concrete Admixtures Market Growth Rate By Region

Competitive Landscape

The concrete admixtures market is fragmented, with no players holding a significant share in the market. The top five players hold a share of about ~30% in the market, and the rest of the market is still very highly fragmented. The top players in the company include Sika AG, Lonestar Funds, CEMEX SAB de CV, Fosroc Inc., and GCP Applied Technologies Inc.

Recent Developments

  • In January 2020, one of the subsidiaries of CEMEX, S.A.B. de C.V. signed an agreement for the sale of certain assets in the United Kingdom to Breedon Group (Breedon), for a total consideration of approximately USD 235 million, which includes approximately USD 31 million of debt. The active assets divested consist of 49 ready-mix plants, 28 aggregate quarries, four depots, one cement terminal, 14 asphalt plants, and four concrete products operations.
  • In December 2019, BASF and an affiliate of Lone Star, a global private equity firm, signed a purchase agreement for the acquisition of BASF’s Construction Chemicals business. The purchase price on a cash and debt-free basis is EUR 3.17 billion.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Construction of Tall Buildings

      2. 4.1.2 Recovering Construction Sector in China

    2. 4.2 Restraints

      1. 4.2.1 Unfavorable Conditions Arising Due to the COVID-19 Impact

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Function

      1. 5.1.1 Water Reducer (Plasticizer)

      2. 5.1.2 Retarder

      3. 5.1.3 Accelerator

      4. 5.1.4 Air Entraining Admixture

      5. 5.1.5 Viscosity Modifier

      6. 5.1.6 Shrinkage Reducing Admixture

      7. 5.1.7 High Range Water Reducer (Super Plasticizer)

      8. 5.1.8 Other Functions

    2. 5.2 Construction Sector

      1. 5.2.1 Commercial

      2. 5.2.2 Residential

      3. 5.2.3 Infrastructure

      4. 5.2.4 Industrial and Institutional

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 ASEAN Countries

        6. 5.3.1.6 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 CEMEX SAB de CV

      2. 6.4.2 CICO Group

      3. 6.4.3 Fosroc Inc.

      4. 6.4.4 GCP Applied Technologies Inc.

      5. 6.4.5 Lone Star Funds

      6. 6.4.6 MAPEI SpA

      7. 6.4.7 Pidilite Industries Ltd

      8. 6.4.8 RPM International Inc.

      9. 6.4.9 Sika AG

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growth Opportunities in Middle-East and Africa

**Subject to Availability

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Frequently Asked Questions

The Concrete Admixtures Market market is studied from 2016 - 2026.

The Concrete Admixtures Market is growing at a CAGR of >6% over the next 5 years.

The Concrete Admixtures Market is valued at 13500 Million USD in 2016.

Middle East and Africa is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Fosroc Inc., CEMEX S.A.B. de C.V., Lone Star Funds, Sika AG, GCP Applied Technologies Inc. are the major companies operating in Concrete Admixtures Market.

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