Construction Additives Market Size to experience an impressive growth of 6.8%
January 30, 2020
Construction additives market is likely to witness a healthy CAGR of 6.8% during the forecast period. The growing demand for construction additives is mainly owing to the increasing number of construction activities in both, residential as well as commercial sector, which is majorly driving the market.
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Construction Additives Market Insights:
By Additive Type:
Based on the additive type, the market is segmented as chemical, mineral, and fiber. Construction additives enhance the chemical as well as the physical properties of concrete. The chemical additive segment is estimated to grow at the highest rate during the forecast period on account of its properties, such as weather resistance, durability, compressive strength, and improvement in the quality of the structure.
By End-Use Industry Type:
Based on the end-use sector type, the construction additives market is segmented as residential, commercial, and infrastructure. The commercial segment leads the market owing to rise in the construction of non-residential buildings and institutes. Further, the gradual preference of building contractors for eco-friendly, cost-effective, latest building techniques, and the use of ready-mix concrete are the major factors for the dominance of this segment.
By Region:
In terms of regions, Asia-Pacific is estimated to register the highest growth in the construction additives market during the forecast period. The market is mainly driven by fast urbanization, leading to construction of residential and non-residential buildings without compromising the quality of buildings and increasing government spending on infrastructural development activities.
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