NEW YORK, March 5, 2021 /PRNewswire/ — The concrete admixtures market is expected to grow by USD 3.92 billion during 2021-2025, expanding at a CAGR of almost 5%. The report also throws light on the impact of the COVID-19 pandemic on the market and the new opportunities and challenges market players can expect. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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Concrete Admixtures Market: Increased commercial construction to drive growth
Rapid urbanization and economic growth have led to an increase in the construction of malls, hospitals, commercial buildings, hotels, and manufacturing facilities. The expansion of commercial spaces, as well as the demand for new office spaces, special economic zones (SEZs), corporate hubs, and retail outlets, have been driving the demand for construction materials such as concrete admixtures. The construction of SEZs has also been generating demand for concrete admixtures in the country. The commercial sector has witnessed growth in terms of the increasing number of office buildings in the last 5-6 years. Such developments across the global commercial sector are expected to boost the construction sector over the forecast period.
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As per Technavio, the growing demand for green buildings will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.
Concrete Admixtures Market: Growing demand for green buildings
It is projected that nearly more than 65% of construction projects will be green projects by 2021. Infrastructural construction activities such as colleges, schools, hospitals, and public buildings are expected to increase during the forecast period. Increasing consumer demand for eco-friendly homes and other non-resident projects has pushed the world’s green building market to a trillion-dollar industry and has led to an increase in the varieties available in the green building materials market. The global popularity of green constructions has grown steadily over the years. Thus, the growth in green buildings will drive the demand for concrete admixtures during the forecast period.
«The diversified product portfolio and strategic positioning of R&D centers will further boost market growth during the forecast period», says a senior analyst at Technavio.
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Concrete Admixtures Market: Major Vendors
- Arkema SA
- BASF SE
- CEMEX SAB de CV
- Dow Inc.
- Fosroc International Ltd.
Concrete Admixtures Market: Segmentation Analysis
This market research report segments the concrete admixtures market by application (Residential, Commercial, and Infrastructure) and geography (APAC, Europe, North America, MEA, and South America).
The APAC region led the concrete admixtures market in 2021, followed by Europe, North America, MEA, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as rapid urbanization and rising disposable income.
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Some of the key topics covered in the report include:
Market Challenges
Market Drivers
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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