The global construction additives market size is expected to reach USD 38.32 billion by 2025, according to a report published by Grand View Research, Inc., registering a CAGR of 8.8%. The market for construction additives is anticipated to be driven by growing awareness regarding the advantages of construction additives among infrastructure developers, contractors, and designers. In addition, extensive use of construction additives in residential and commercial buildings is expected to boost the market growth.
Construction additives are advanced materials, which have emerged as a viable solution for improving the quality of buildings and infrastructure. Additive concrete, compared to other conventional concrete types, possesses useful properties such as durability and high strength, which makes it ideal for use in infrastructure components.
By type, chemical is anticipated to be the fastest-growing segment owing to its wide-ranging use in the construction sector. Its low cost, compared to other construction additives, is a major growth driver for this segment.
Booming hospitality industry all over the world, in addition to the increasing number of medical centers, is responsible for enabling the commercial segment to expand at the highest CAGR. On the other hand, increasing disposable income in developing countries, coupled with increasing government projects, is expected to drive the residential and infrastructure segments.
Key players are investing in educating builders and contractors regarding the significance of using construction additives to enhance the quality and endurance of construction. These players are also heavily investing in R&D activities, most of which are focused on manufacturing products that are suitable for various conditions at an affordable price.
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The chemical additives segment is anticipated to exhibit the highest growth in terms of revenue, with a CAGR of 9.3% over the forecast period. Low cost and ease of use make it ideal for residential and commercial construction
The commercial segment is the largest end user in the global construction additives market. Extensive use of construction additives in high-rise buildings, hotels, malls, and hospitals is driving this segment
Asia Pacific is expected to be the largest as well as the fastest-growing regional market, exhibiting a CAGR of 10.2% in terms of revenue over the forecast period. Rapidly growing population and rising government mega infrastructure projects in the region is expected to further boost market demand
Many major players have invested in research and development activities in order to develop more effective and affordable products. Companies are also focusing on expanding their businesses in developing countries.
Grand View Research has segmented the global construction additives market on the basis of type, end use, and region:
Construction Additives Type Outlook (Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)
Chemical
Mineral
Fiber
Construction Additives End-use Outlook (Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)
Residential
Commercial
Infrastructure
Construction Additives Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)
North America
The U.S.
Europe
Germany
The U.K.
France
Asia Pacific
China
Japan
India
Central & South America
Brazil
Middle East & Africa
Saudi Arabia
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