Increase in construction spending is one of the major factors expected to stimulate market demand.
Market Size – USD 25.57 billion in 2021, Growth - CAGR of 7.80%, Trends – Governments initiative to boost infrastructure development in developing nations
The global plastic additives market is expected to reach USD 50.20 Billion by 2030, according to a new report by Reports and Data. Plastic additives deliver the advantages of increased efficiency, high quality, and better finishing over conventional materials.
Increase in construction spending is one of the major factors expected to stimulate market demand. Surging demand for residential and non-residential buildings has a notable impact on the sales for construction additives, owing to their rising application in the flooring and walls of the buildings. Growing inclination among consumers for better and high-quality cement is estimated to fuel the product demand in the upcoming years, as cement additives are useful in increasing construction strength coupled with providing of improved chemical resistance, waterproofing feature, color, and high water reduction.
Government initiatives to boost infrastructure development in developing nations are likely to drive product demand in the forecast period. This has resulted in the order book position of several construction players to be currently sufficient to offer medium-term revenue visibility. For instance, the Bharatmala Pariyojana project, by the Government of India, is a macro and corridor-based approach to development of roads, which caters to expansion as well as plugging of the existing infrastructure gaps and are likely to find enormous opportunities for the construction sector as it is the largest road development program in India.
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Further key findings from the report suggest
- By type, chemical additives contributed to the largest market share in 2018 and are expected to grow at a rate of 6.4% in the forecast period. These can enhance concrete quality, acceleration, or retardation of setting time, among other properties that could be altered to achieve specific results.
- By availability, inorganic products dominated the market in 2018 and are expected to grow at a rate of 5.6% in the period 2019-2026.
- Application of the product in commercial buildings held the largest market share in 2018 and is anticipated to witness the highest CAGR of 6.3% in the forecast period. The commercial building construction maintained its growth in 2018 steered by the increased investment in the commercial real estates, especially in developing nations.
- North America held the second-largest market share in 2018 and is expected to grow at a rate of 5.4% in the forecast period. The construction industry is a significant contributor to the U.S. economy. The industry has over 680,000 employers with more than 7.0 million employees and generates around USD 1.300 trillion worth of structures annually. Construction is one of the largest customers for mining, manufacturing, and several other services.
- Key participants include BASF SE, Sika, DOW, Chryso, W.R. Grace Co., RPM International, Evonik Industries, Mapei SPA, Fosroc International, and Cico Group, among others.
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Market Segmentation:
Type Outlook (Volume, Kilo Tons; 2019-2030 and Revenue, USD Million; 2019-2030)
- Chemical Additives
- Plasticizers
- Air-Entraining
- Shrinkage Reducing
- Corrosion Inhibiting
- Water Proofing Retarding Agent
- Others
- Mineral Additives
- Fiber Additives
Application Outlook (Volume, Kilo Tons; 2019-2030 and Revenue, USD Million; 2019-2030)
- Commercial Buildings
- Residential Buildings
- Infrastructure
- Industrial
Availability Outlook (Volume, Kilo Tons; 2019-2030 and Revenue, USD Million; 2019-2030)
- Organic
- Inorganic
Regional Outlook:
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- A.E.
- South Africa
- Rest of MEA
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Key questions covered in the global Plastic additives Market report:
- What is the expected market size of the global Plastic additives Market during the forecast period?
- What factors are expected to hamper global Plastic additives Market growth over the forecast period?
- What key factors are expected to drive global revenue growth between 2021 and 2028?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global Plastic additives Market?
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