According to a report by MicroMarket Monitor, the Asia-Pacific concrete admixtures market is expected to reach a value of $12.06 billion by 2019, primarily driven by the high demand from developing economies.
The Asia-Pacific (APAC) concrete admixture market is divided into segments Type (superplasticizers, normal plasticizers, accelerating agents, waterproofing admixtures, others) and Geography. The report is an analysis and forecast up to 2019 and analyzes the Asia-Pacific concrete admixture market with respect to market drivers, opportunities and trends in different countries.
Concrete admixtures are chemical formulations that are added to concrete at the initial mixing stage to enhance or modify the properties and workability of the mix. Concrete admixtures are used to enhance strength, durability, chemical resistance and other properties, thus making concrete more suitable to satisfy the needs of modern civil structures.
Chemical concrete admixtures are added in specific proportions to concrete for achieving certain design standards and performance requirements of concrete structures. The awareness regarding the use and benefits of admixtures has increased among construction developers significantly over the past few decades. The utilization of mineral and chemical admixtures in cement is most commonly found in developed countries. In recent years, there has been a considerable increase in the use of admixtures in concrete for various residential, commercial and infrastructure projects across most of the developing countries of the world (especially APAC countries). The growing need for housing units and improved sanitation levels; infrastructure investments; and funding by governments in developing countries have spurred the growth of cement consumption and admixtures in Asia- Pacific.
China is the largest market for concrete admixtures in Asia-Pacific, having accounted for a share of 76.3 percent of the total market consumption in 2014, followed by India and South Korea. The key players in the Asia-Pacific concrete admixtures market include Ashland Inc. (U.S.), BASF SE (Germany), CICO Technologies Ltd. (India), The Dow Chemical Co. (U.S.), The Euclid Chemical Co. (U.S.), and Pidilite Industries Ltd. (India), among others.
New product developments, acquisitions and expansions are among the key strategies adopted by the major companies operating in this market. The manufacturing companies, associations, and end-product manufacturers are infusing high investments for future advancements and technology modifications of concrete admixtures, in order to match the rising demand from various end-user industries. Normal plasticizers are the most dominant type, among all the concrete admixtures available, primarily due to its strength and enhanced workability.
The Asia-Pacific concrete admixtures market was valued at $7.22 billion in 2014 and is estimated to reach $12.06 billion by 2019, at a compound annual growth rate of 10.8 percent from 2014 to 2019. The improving quality of construction in developing economies; the increasing demand for buildings, roads, bridges, tunnels, and water retention structures; and the need to reduce water usage and construction time are among the key factors driving the growth of the concrete admixtures market in Asia-Pacific.