According to TechSci Research report, “Construction Additives Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Construction Additives Market stood at USD 22.87 billion in 2022 and is anticipated to grow with a CAGR of 6.26% in the forecast period, 2023-2028. The initiatives taken by government based on construction additives has led to favorable market conditions for the Global Construction Additives Market. Several factors contribute to the growth of various construction additives products. In an unprecedented move aimed at promoting domestic industries and reducing carbon emissions, the U.S. government has recently announced a groundbreaking policy. This policy prioritizes the use of American-made, lower-carbon construction materials in federal procurement. By doing so, the government aims to not only support local manufacturers but also contribute to a greener and more sustainable future. As a result of this bold initiative, there is expected to be a significant increase in the demand for construction additives. These additives play a crucial role in the production of lower-carbon materials, which align with the government’s vision of reducing environmental impact. By incorporating these additives into construction processes, the resulting materials exhibit improved performance, durability, and sustainability.
Governments around the world have long recognized the importance of regulating the construction sector to ensure environmental sustainability and safety. These regulations often mandate the use of specific construction additives, which have proven to enhance the overall quality of construction materials. By enforcing such regulations, governments aim to create safer structures while minimizing the negative impact on the environment. With the U.S. government’s latest commitment to prioritizing lower-carbon materials and the use of construction additives, the construction industry is poised for a transformative shift towards a more sustainable future. This presents an exciting opportunity for manufacturers, innovators, and stakeholders to contribute to a greener and more resilient built environment.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on “Global Construction Additives Market” – https://www.techsciresearch.com/report/global-construction-additives-market/2274.html
There is a rapidly growing demand in the construction industry for eco-friendly additives that not only enhance performance but also minimize harm to the environment. This surge in demand has spurred extensive research and development efforts aimed at creating sustainable and green construction additives. The urgent need for sustainability in construction practices is not merely a passing trend; it is a vital response to the escalating environmental concerns surrounding the industry. By prioritizing eco-friendly solutions, we can pave the way for a more environmentally conscious and responsible future in construction.
The Global Construction Additives Market is segmented into type, end user, regional distribution, and company. Based on its type, the chemical additives segment held the largest share in the market. Chemical type additives encompass a wide variety of additives, including a diverse range of concrete admixtures, asphalt additives, polymer flooring, protective coatings, adhesives, and sealants. The demand for chemical adhesives is primarily fueled by the constantly improving standards in the building construction markets. These chemical compounds offer several advantages such as lower water content and enhanced workability, making them highly sought after in complex reinforcement models. As a result, the market for chemical type segments is expected to witness substantial growth over the forecast period, driven by these factors and the increasing applications of chemical compounds in various industries.
Based on region, Asia Pacific segment is expected to grow during the forecast period.
The construction market in the Asia Pacific region holds the distinction of being the largest in the world, accounting for a staggering 65% of the global cement production. Among the countries in this region, China takes the lead in the APAC construction additives market during the forecast period. This can be attributed to the surge in both new construction projects and improvement and repair endeavors, which in turn necessitates a higher volume of additives to enhance construction quality. Notably, China benefits from a large and cost-effective labor force, translating to reduced construction costs and a decreased need for more durable, additive-fortified concrete structures.
Apart from China, India also plays a significant role in the APAC construction additives market, holding the second largest market share in 2022. This trend is expected to continue over the forecast period, primarily due to the government’s active efforts to divert investments into construction projects. India, with its substantial inventory of unoccupied housing stock and non-residential facilities, sees a limited requirement for new buildings. Nonetheless, this scenario fuels the demand for construction additives, as they are crucial in enhancing the quality and performance of existing structures.
Major companies operating in Global Construction Additives Market are:
- Dow Chemical Company
- BASF SE
- MAPEI SpA
- Sika AG
- W.R. Grace and Company
- RPM International Inc.
- Thermax Limited
- Hycrete, Inc.
- Concrete Additives and Chemicals Private Limited
- Evonik Industries AG
Download Free Sample Report – https://www.techsciresearch.com/sample-report.aspx?cid=2274
Customers can also request for 10% free customization on this report
“Growing application of construction additives in various end user industries are key drivers of the construction additives market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of construction additives with every passing year are anticipated to register an impressive growth to Global Construction Additives Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Construction Additives Market By Type (Mineral Additives, Chemical Additives, Fibre Additives), By End User (Commercial, Residential, Infrastructural), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Construction Additives Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Construction Additives Market.
Contact
TechSci Research LLC
420 Lexington Avenue,
Suite 300, New York,
United States- 10170
M: +13322586602
Email: [email protected]
Website: https://www.techsciresearch.com