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 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 market growth.
Construction additives are advance 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 increasing number of medical centres, is responsible for enabling the commercial segment 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 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.
Access Research Report of Construction Additives Market @ https://www.grandviewresearch.com/industry-analysis/construction-additives-market
Further key findings from the report suggest:
- The chemical additives segment is anticipated to be 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 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
- US.
- Europe
- Germany
- UK.
- France
- Asia Pacific
- China
- Japan
- India
- Central & South America
- Brazil
- Middle East & Africa
- Saudi Arabia
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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