IndustryARC, in its latest report, predicts that Concrete Admixtures Market size is forecast to reach $24.5 billion by 2026, after growing at a CAGR of 7.7% during 2021-2026. Concrete admixtures are added to the concrete that can help control the set time and other aspects of fresh concrete. Few of the common admixtures includes accelerating admixtures, retarding admixtures, air entraining admixtures, and others. The growing public interest towards housing its repair works will further enhance the overall market demand for concrete admixtures industry for the period. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
Key takeaways:
1. Asia-Pacific dominates the concrete admixtures market owing to increasing usage in end use such as residential construction, infrastructure construction and others.
2. The increase in renovation and repair works, is likely to aid in the market growth of concrete admixtures.
3. The use of concrete admixture tends to the early removal of formwork, will increase the market demand for concrete admixtures in the near future.
4. Increase in drying shrinkage may cause an increase in tensile stress, which will eventually be led to cracking, internal warping and external deflection, this will create hurdles for the concrete admixtures market.
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Segmental Analysis:
1. High Range Water Reducing segment held the largest share in the concrete admixtures market in the year 2020 and is expected to grow at a revenue CAGR of 8.5% during the forecast period.
2. Residential has been the primary market for concrete admixtures in the year 2020 and is expected to grow at a revenue CAGR of 6.6% during the forecast period. Concrete admixtures play a key role in residential constructions by increasing the durability and setting time for concrete.
3. APAC dominated the concrete admixtures market in the year 2020 and is expected to grow at a CAGR of 9.9% during the forecast period. Japan and South Korea are the major regions in Asia-Pacific that are dominating the concrete admixtures market.
Competitive Landscape:
The top 5 players in the Concrete Admixtures industry are –
1. Dow Chemical Company
2. CICO Group
3. İKSA BETON ve YAPI KİMYASALLAR
4. Polisan Kimya San. A.S.
5. Lyksor Kimya
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