Industry Boosted by the Increasing Demand for Plasticizers
Technavio has announced its latest market research report titled Global Cement Additives Market 2020-2024 (Graphic: Business Wire)
Technavio has announced its latest market research report titled Global Cement Additives Market 2020-2024 (Graphic: Business Wire)
LONDON--(BUSINESS WIRE )--The global cement additives market size is expected to grow by 7.32 million tons during 2020-2024, progressing at a CAGR of almost 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of the Market Impact of COVID-19.
The increasing demand for plasticizers will drive the cement additives market growth during the forecast period. Sulfonated naphthalene formaldehyde, polycarboxylic acids, sulfonated melamine formaldehyde, lignosulfonates, and others are some of the widely used plasticizers in cement. These are added to concrete to reduce the water content to achieve a certain degree of workability. With the increase in paste quality, the concrete mixture acquires higher compressive and flexural strength, increased resistance to weathering, lower volume change after drying, reduced permeability, improved bond between concrete, and reinforcement and wetting, reduced shrinkage cracking tendencies, and other related properties.
Read the full report here: www.technavio.com/report/cement-additives-market-industry-analysis?
Increase in residential projects in APAC will be a Key Market Trend
The purchasing power of individuals in emerging markets such as India, China, and others, has been increasing consistently over the past few years. For instance, according to The World Bank Group, the GDP per capita (current US$) of China increased to USD 9,770 in 2018, which was around 12% higher than in 2017. Similarly, in India, the GDP per capita of India increased by 1.45% to USD 2,001 in 2018, when compared to USD 1,981 in 2017. The increase in purchasing power, coupled with the rising population, has created a demand for residential projects in the region. In addition, governmnets of different countries in the region are planning to invest substantially in various residential projects during the forecast period. For instance, in India, the Pradhan Mantri Awas Yojana, Housing for All project, intends to provide housing for all in urban areas by the year 2022. Therefore, the rise in the demand for residential units and increasing government initiatives will drive the growth of the global cement industry, which will augment the growth of the cement additives market during the forecast period.
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Cement Additives Market 2020-2024 : Key Highlights
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Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/
The Global Cement Additives Market will grow by 7.32 mn tons during 2020-2024
Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/