Concrete Admixtures Market Size

Concrete Admixture Market Size

Concrete Admixtures Market size is projected to grow at a CAGR of over 5% over 2023-2032.  The better growth opportunities and improved lifestyle are encouraging individuals to shift to urban areas. This has increased the need for residential as well as commercial properties. The growth of the construction industry, coupled with the increasing infrastructure development activities are boosting the demand for concrete admixtures. These admixtures help in enhancing the durability, strength, and workability of concrete, making them crucial for large-scale construction projects.

According to the UNCTAD report, the world population was estimated to have grown by 0.9% in 2021 and surpass 8 billion in 2022, wherein the share of urban population was projected to have increased to 56.5% in 2021. The rapid urbanization and extensive infrastructure development will create a positive outlook for the market in the coming years.

Concrete Admixtures Market Growth Drivers & Restraints

Ongoing advancements in concrete admixture technologies have led to the development of superior products that offer improved performance characteristics. However, the fluctuating prices of raw materials will act as a major restraint for concrete admixtures industry. Raw materials used in the production of concrete admixtures, such as cement, aggregates, chemical additives, and polymers, are often subject to price volatility due to changes in global supply & demand, geopolitical tensions, natural disasters, and fluctuations in currency exchange rates. The challenge of maintaining stable pricing for admixtures among manufacturers will lead to restrained market growth.