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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Market Summary:
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