The global concrete surface retarders market is expected to witness substantial growth over the projected period. Rising demand from the residential and non-residential construction sector is anticipated to be a major driving factor. Also known as the surface retarder, the product is primarily applied to fresh concrete to delay the setting process chemically, without affecting setting rate of the underlying cement. The application of concrete surface retarders allows better design and superior finish to the complex structures. Increasing demand from modern architecture is likely to further propel growth over the forecast period.
Concrete surface retarders are easy to apply and work effectively in a very limited time span. The product can be applied for bond improvement of waterproofing materials and creation of exposed aggregate surfaces. Growing product demand in applications such as precast concrete, slip resistance surfaces, and decorative sidewalks is expected to drive the market over the projected period.
The product is an easy and cost-effective solution to remove uneven concrete surface. Furthermore, it has zero Volatile Organic Compounds (VOC) content, which makes it environment friendly. Increasing demand for green construction materials to lower the adverse impact of construction activities on the environment is expected to drive the market growth. However, these products must comply with various standards such as OTC, SCAQMD, and EPA.
The market can be segmented on the basis of raw materials, product types, and regions. On account of raw materials, the market can be bifurcated into organic and non-organic agents. The organic surface retarder is expected to be the larger segment and is likely to expand at a faster CAGR than inorganic product type. These products are suitable for a wide range applications in both vertical as well as horizontal concrete surfaces across residential and non-residential industries. Furthermore, lower cost of organic retarders than their counterparts is expected to offer this segment a competitive edge.
The products are available in both water- and solvent-based forms. Water-based concrete surface retarders are expected to dominate the market on account of their low health hazards. The water-based products are gaining high traction from across the globe on account of their odorless properties and eco-friendly nature. Increasing stringent regulations for the building and construction industry, which demand environment friendly and sustainable products are likely to open new business avenues over the forecast period.
Concrete surface retarders are expected to witness high demand from non-residential construction activities to treat sidewalks, facade, cladding, curbs, ramps, concrete joints, and bridge decks. Increasing employment rate coupled with regional expansion of existing companies is leading to a need for new office spaces. This has resulted in increased construction activities across the globe. These factors are expected to drive the product demand from the commercial construction sector.
Europe has emerged as the largest market for the product, wherein water-based surface retarders observed the highest growth in the past. Growth in regional construction activities in the past five years can be attributed to this rise in regional product demand. North America is expected to grow on account of a substantial rise in the single-family housing and multi-family constructions. This factor is anticipated to impel regional market growth over the forecast period.
In Canada, government efforts and investments to provide affordable housing to the lower classes through the Canada Mortgage and Housing Corporation (CMHC) and Affordable Housing Initiative (AHI) program are anticipated to drive residential construction. In addition, the New Building Canada Plan (NBCP) to support building and construction projects to boost economic growth and job creation is expected to further drive regional demand.
China is expected to emerge as the largest market in the world, on account of huge investments in residential as well as non-residential constructions. Growing urbanization in China is one of the primary factors boosting growth of the construction sector. Urban population in the country has surged from 170 million to 730 million in the last 30 years. Rising standard of living, improving spending capacities, and need for housing solutions for the growing population are likely to drive construction industry growth, thus impacting the market positively.
The concrete surface retarders market is dominated by a few multinational companies including Sika AG, BASF SA, Mapei AS, and CEMEX S.A.B. de C.V. The market players are expected to engage in mergers and acquisitions to cater to niche markets and to strengthen their global presence.
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The global construction industry once booming due to the residential and commercial construction in China and the U.S., has been affected by the suspension of the construction activities across the impacted economies. The construction industry in the U.S. is expected to take a major hit due to labor shortages and the lockdown imposed by the government during COVID-19, which is expected to be aggravated by the resulting supply chain issues and financing pressures due to the non-adherence to the completion times. The report will account for Covid19 as a key market contributor.