Construction Additives Market is expected to reach US$ 114.59 billion by 2030

Increasing Government Investments for Infrastructure Development and Sustainability Propels Construction Additives Market Growth

According to the latest market study on “Construction Additives Market Forecast to 2030 – Global and Regional Share, Trend, and Growth Opportunity Analysis – by Type and Application,” the market was valued at US$ 72.76 billion in 2022 and is projected to reach US$ 114.59 billion by 2030; it is anticipated to record a CAGR of 5.8% from 2022 to 2030. The report highlights key factors contributing to the construction additives market size and prominent players along with their developments in the market.

Construction additives play a significant role in enhancing the performance and durability of various construction materials. These additives are substances incorporated into concrete and other construction materials to improve specific properties or overcome particular challenges during construction. These additives can be classified into several categories: plasticizers, paint & coating additives, water reducers, and cement additives. Additives are precisely blended with construction materials to impart desired characteristics to the material. Construction companies and contractors extensively use construction additives. The additives are incorporated into concrete, mortar, and other construction materials to enhance their properties, such as workability, strength, and durability. Adhesion promoters are added to asphalt used in road construction and maintenance to protect from damage caused by moisture and extend the service life of asphalt pavement. Whereas, plasticizers are designed to improve the workability and flexibility of concrete by reducing water content, resulting in a more cohesive mixture that is easier to handle during construction.

Construction Additives Market Breakdown – by Region

The construction additives market trends include the development of sustainable construction additives. Governments of various European countries have imposed a few regulations on using sustainable chemicals to manufacture products in processing industries, including chemicals & materials and paints & coatings, to ensure better protection of human health and the environment. These regulations are set to reduce greenhouse emissions and have compelled polymer manufacturing companies to increase investments in developing naturally derived raw materials. In March 2023, BYK introduced two starch-based polymer additives, CERAFLOUR 1003 and CERAFLOUR 1004, designed for architectural coatings application, at the European Coatings Show 2023. Governments of various countries are adopting several initiatives to increase the awareness and development of bio-materials and recycled materials. Therefore, the development of sustainable construction additives is expected to drive the construction additives market growth.        

The government-supported infrastructure projects generally include roads, dams, bridges, tunnels, ports, airport pavements, and highways. The growing investments from government organizations lead to a rise in infrastructure construction. In 2022, the Department for Transport of the UK announced the funding of US$ 34.83 million to develop net zero highways. In 2022, the Roads and Transport Authority of the UAE commenced phase 1 of the Sheikh Rashid bin Saeed Corridor Improvement Scheme, building four bridges and a four-lane road. The project aimed to improve traffic safety and flow and eliminate overlapping traffic spots. Global initiatives address sustainability and resilience to create smart and interconnected cities. Factors such as strength and durability influence the overall longevity of infrastructure projects. Infrastructure development companies constructing roads, bridges, tunnels, and other public works are significant end users of construction additives. These materials serve a distinct range of purposes, from improving workability and strength to addressing specific challenges associated with construction materials. Thus, all these factors are likely to have a positive impact on the construction additives market in the next few years.

The construction additives market analysis is carried out by identifying and evaluating key players in the market across different regions. W. R. Grace & Co, Chryso SAS, Dow Inc, BASF SE, Cemex SAB de CV, Fosroc International Ltd, CICO Technologies Ltd, Sika AG, Evonik Industries AG, RPM International Inc, and Mapei SpA are among the key players profiled in the construction additives market report.

Construction Additives Market Report Segmentation:

The global construction additives market is segmented on the basis of type and application. Based on type, the market is segmented into cement additives, concrete admixture (precast concrete and ready-mix concrete), paints and coatings additives, adhesives and sealants additives, plastic additives, bitumen additives, and others. Based on application, the market is divided into residential, commercial, infrastructure, and others. The report scope is broadly segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, the UK, Italy, Russia, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

By geography, Asia Pacific dominated the construction additives market share in terms of revenue, owing to growing infrastructure development in the region. Rapid urbanization and infrastructure development witnessed in China, India, and other Southeast Asian countries is one of the key factors contributing to the market expansion. Technological advancement and innovation in the formulation of construction additives have played a major role in shaping the market landscape in the region. Governments of several countries, such as China and India, have launched various initiatives to boost residential construction and housing projects. Moreover, the Chinese construction market is highly leveraged and supported by government policies. Foreign investments in the construction sector of Japan are likely to boost the demand for construction and construction-related materials.

The commercial sector includes sports facilities, government offices, hospitals, hotels, and corporate offices. Different construction additives are used to construct these facilities in Asia Pacific. These construction additives help to reduce the construction cost, improve cement properties, and modify the features of hardened concrete. Construction additives such as cement additives, concrete admixture additives, paint & coating additives, bitumen additives, and plastic additives are used to enhance or modify the properties of construction materials. Major market players are focused on developing novel and improved additives to meet the evolving demands of the construction sector, further driving the construction additives market share in the Asia Pacific.

Contact Us
 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com