The latest report by IMARC Group, titled “Concrete Superplasticizer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the global concrete superplasticizer market size reached US$ 4.1 Billion in 2018. Superplasticizers refer to chemical admixtures for concrete which are used to lower the water content or to slow down the setting rate of concrete. Available in liquid and powder forms, they can be derived from natural or synthetic sources. Superplasticizers are water-soluble polymers which are added to improve the strength of the concrete and decrease the aggregation of particulates for enhancing the efficiency of the flow of suspensions. Also known as high range water reducers, these polymers aid in maintaining the water to cement ratio in order to improve the constant workability of the mixture.
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Global Concrete Superplasticizer Market Trends:
The flourishing construction industry is one of the key factors driving the market growth. Owing to increasing migration from the rural to urban areas, there has been a significant rise in the construction of shelter homes and residential apartments. This is further fueled by rapid urbanization, increasing population growth and inflating purchasing power of consumers. Since concrete superplasticizers increase the compressive strength, eliminate fine cracks, reduce adsorption and provide better surface texture to buildings, significant growth in the construction sector is augmenting their demand. Apart from this, several government initiatives aimed to improve the tourism infrastructure act as another major growth-inducing factor. Further, manufacturers are investing significantly in research and development (R&D) to develop efficient variants that perform better than conventional superplasticizers and provide improved water reduction. On account of the aforementioned factors, the market is projected to reach US$ 5.4 Billion by 2024, expanding at a CAGR of around 5% during 2019-2024.
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Key Market Segmentation:
Market Breakup by Form:
On the basis of the form, the market has been bifurcated into liquid and powder. Amongst these, liquids represent the largest market segment.
Market Breakup by Product Type:
Based on the product type, the market has been divided into sulfonated naphthalene formaldehydes (SNF), sulfonated melamine formaldehydes (SMF), modified lignosulfonates (MLS), and polycarboxylic acids (PC). At present, SNF is the most popular product type.
Market Breakup by Application:
1. Ready-Mix Concrete
2. Precast Concrete
3. High-Performance Concrete
On the basis of the application, ready-mix concrete accounts for the majority of the total market share. Other major application segments include precast concrete, high-performance concrete, shotcrete and others.
Market Breakup by Region:
1. Asia Pacific
2. Middle East and Africa
3. North America
5. Latin America
On the geographical front, the market has been classified into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. Asia Pacific currently exhibits a clear dominance in the market.
The competitive landscape of the market has also been examined in the report. Some of the key players operating in the market include Arkema SA, BASF SE, Kao Corporation, Sika AG, W. R. Grace & Company, Enaspol as, Mapei S.P.A., Muhu (China) Construction Materials Co. Ltd and Sure Chemicals.
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