Allied Market Research published a report, titled, "Construction Additives Market by Type (Chemical Additives, Mineral Additives, and Fiber Additives) and End Use (Residential, Industrial, Infrastructure, and Commercial): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the "construction additives market" was valued at $34.5 billion in 2023, and is estimated to reach $64.5 billion by 2033, growing at a CAGR of 6.6% from 2024 to 2033.
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Prime determinants of growth
The global construction additives market has experienced growth due to several factors such as infrastructure development projects and surge in demand for high-performance building materials. However, fluctuations in raw material prices hinder market growth. Moreover, an increase in focus on sustainable construction practices presents additional opportunities for anti-corrosion coating. As the global construction industry moves toward greener and more energy-efficient solutions, there is a growing demand for materials that enhance durability, reduce environmental impact, and improve overall building performance. Construction additives such as water reducers, air-entraining agents, and set retarders play a crucial role in achieving these sustainability goals. They help in optimizing cement usage, minimizing waste, and enhancing the mechanical properties of concrete, ultimately contributing to reduced carbon emissions.