Stratview Research delivers key insights on the Construction Additives market in its latest report titled Construction Additives 2022-2028.
According to the report, the global construction additives market was estimated at USD 20.13 billion in 2021 and is likely to grow at a CAGR of 7.08% during 2022-2028 to reach USD 32.64 billion in 2028.
The growing demand for construction additives is mainly owing to the increasing number of construction activities in both, the residential and commercial sectors, which is majorly driving the market.
What are construction additives?
Construction additives are chemical compounds used in buildings and infrastructure to make the project durable and strengthen the structure. They also help to minimize the quantities of cement and water used in construction.
Construction additives are of different types, such as chemical, mineral, and fiber, and are used in different end-use sectors, such as residential, commercial, and infrastructure.
Market Segmentation
Based on the additive type, the market is segmented as chemical, mineral, and fiber. Construction additives enhance the chemical as well as the physical properties of concrete. The chemical additive segment is estimated to grow at the highest rate during the forecast period on account of its properties, such as weather resistance, durability, compressive strength, and improvement in the quality of the structure.
Based on the end-use sector type, the construction additives market is segmented as residential, commercial, and infrastructure. The commercial segment leads the market owing to the rise in the construction of non-residential buildings and institutes. Further, the gradual preference of building contractors for eco-friendly, cost-effective, latest building techniques, and the use of ready-mix concrete are the major factors for the dominance of this segment.
In terms of regions, Asia-Pacific is estimated to register the highest growth in the construction additives market during the forecast period. The market is mainly driven by fast urbanization, leading to the construction of residential and non-residential buildings without compromising the quality of buildings and increasing government spending on infrastructural development activities.
Key Players
The top market segments considered to prepare this report are reputed market players of Construction Additives industry from different geographical locations, their product type and application industries.
Some of the top market players considered for this report are as follows:
• BASF SE
• W. R. Grace and Company
• RPM International
• Dow Inc.
• Sika AG
• Fosroc International
• MAPEI
The report delivers detailed profiles of the key market influencers, market value, growth factors, etc. Furthermore, important information such as sales data, value, volume market share, profit margin, and growth plans of coming few years is also provided in the report.
The product trends, market share of the top market players, their profile details to know the competitive analysis, market growth of different regions, growth promoters, roadblocks, and opportunities are some of the key insights of the report that will help the users to prepare business plan and understand the investment opportunity and make a mark in the market.
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