LONDON--(BUSINESS WIRE)--The global cement additives market size is expected to grow by 7.32 million tons during 2020-2024, progressing at a CAGR of almost 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of the Market Impact of COVID-19.
The increasing demand for plasticizers will drive the cement additives market growth during the forecast period. Sulfonated naphthalene formaldehyde, polycarboxylic acids, sulfonated melamine formaldehyde, lignosulfonates, and others are some of the widely used plasticizers in cement. These are added to concrete to reduce the water content to achieve a certain degree of workability. With the increase in paste quality, the concrete mixture acquires higher compressive and flexural strength, increased resistance to weathering, lower volume change after drying, reduced permeability, improved bond between concrete, and reinforcement and wetting, reduced shrinkage cracking tendencies, and other related properties.
Report Highlights
- The major cement additives market share came from the residential segment in 2019, and it is expected to witness the fastest growth during the next five years.
- APAC was the largest cement additives market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to the growth in the construction activities for residential and non-residential buildings.
- The global cement additives market is fragmented. Ashland Global Holdings Inc., BASF SE, Dow Inc., GCP Applied Technologies Inc., Halliburton Co., Kao Corp., LANXESS AG, Sika AG, USG Corp., and W. R. Grace and Co. To help clients improve their market position, this cement additives market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the Global Cement Additives Market 2020-2024 is expected to have neutral & at par growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: www.technavio.com/report/cement-additives-market-industry-analysis?
Increase in residential projects in APAC will be a Key Market Trend
The purchasing power of individuals in emerging markets such as India, China, and others, has been increasing consistently over the past few years. For instance, according to The World Bank Group, the GDP per capita (current US$) of China increased to USD 9,770 in 2018, which was around 12% higher than in 2017. Similarly, in India, the GDP per capita of India increased by 1.45% to USD 2,001 in 2018, when compared to USD 1,981 in 2017. The increase in purchasing power, coupled with the rising population, has created a demand for residential projects in the region. In addition, governmnets of different countries in the region are planning to invest substantially in various residential projects during the forecast period. For instance, in India, the Pradhan Mantri Awas Yojana, Housing for All project, intends to provide housing for all in urban areas by the year 2022. Therefore, the rise in the demand for residential units and increasing government initiatives will drive the growth of the global cement industry, which will augment the growth of the cement additives market during the forecast period.
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Cement Additives Market 2020-2024 : Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist cement additives market growth during the next five years
- Estimation of the cement additives market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the cement additives market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of cement additives market vendors
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