Concrete admixtures construction chemical market expected to reach US$16 324 million
Published by Angharad Lock,
Digital Assistant Editor
World Cement,
According to a new report published by Allied Market Research, Concrete Admixtures Construction Chemical Market: Global Opportunity Analysis and Industry Forecast, 2015-2023, the global concrete admixtures construction chemical market is projected to reach US$16 324 million by 2022. This demonstrates a CAGR of 5.7% from 2017 to 2023 (the market was valued at US$11 027 million in 2016).
Concrete admixtures construction chemical are ingredients other than water, aggregates and cement, which are used to modify the properties such as, heat of hydration, accelerate or retard setting time, workability, water reduction, dispersion and air-entrainment, impermeability, and durability factors. Concrete admixtures are available as mineral and chemical admixtures.
Rapid growth of construction industry due to change in lifestyle patterns in emerging countries such as China, India, Brazil, Middle East, and Africa, owing to the rapid economic development and increase in disposable income has fueled the growth of concrete admixtures market. Moreover, fast adoption of latest manufacturing standards globally is expected to increase the penetration level of concrete admixtures.
Chemical admixtures are chemical additive use to enhance the properties of concrete. It may be used for various purposes such as, to accelerate and retard the rate of curing, and for reducing the water content in the concrete mix. It is also used as corrosion inhibitors, shrinkage control, alkali-silica reactivity inhibitors, and coloring agents in concrete.
According to Eswara Prasad, Team Lead, Chemicals & Materials at Allied Market Research, Admixtures offer high workability, high compressive strength, durability, watertight, wear resistant, and high finish for the complex modern structures, which is expected to drive the growth of concrete admixture market.
Lack of awareness of the long-term benefits of concrete admixtures in contrast to the inexpensive substitutes and lack of benchmark regulations globally lead to sub-standard building guidelines, which is expected to hamper the growth of the market. Increase in government initiatives regarding energy conservation and sustainable infrastructure are expected to open new avenues during the forecast period.
Read the article online at: https://www.worldcement.com/asia-pacific-rim/19042017/concrete-admixtures-construction-chemical-market-expected-to-reach-us16-324-million/
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