Concrete Surface Retarders Market to Reach $131.5 Million, Globally, by 2031 at 4.7% CAGR: Allied Market Research

Growth in infrastructural development projects and increased demand for residential, commercial, and industrial buildings drive the growth of the global concrete surface retarders market.

PORTLAND, Ore., March 21, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Concrete Surface Retarders Market by Raw material (Organic Agents, Inorganic Agents), by Type (Water Based, Solvent Based), by Application (Residential, Commercial): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global concrete surface retarders market size was valued at $82.7 million in 2021, and is projected to reach $131.5 million by 2031, growing at a CAGR of 4.7% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, regional landscapes, and competitive scenarios.

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Drivers, Restraints, and Opportunities-

The global concrete surface retarders market is experiencing increased growth due to the rising demand for residential, commercial, and industrial buildings. This increase in demand for buildings is expected to drive demand for concrete surface retarders. Furthermore, concrete retarders are also used for creating appealing facades in a building.  On the other hand, concrete surface retarders have a few disadvantages, such as it increases the porosity of the concrete slab and decreases the effective depth of the slab. These factors impede the growth of the market. However, increasing demand for sustainable building materials is expected to create lucrative opportunities in the industry.

Covid-19 scenario-

• The outbreak of COVID-19 had a significant impact on the concrete surface retarders market, with the construction sector being particularly hard-hit during the lockdown period.
• However, the market gradually rebounded by the end of 2021, and there has been a slow but steady recovery in the global market for concrete surface retarders.

The organic agents segment held the major share  in 2021

By raw material, the organic agents segment contributed to the highest share in 2021, garnering more than three-fifths of the global concrete surface retarders market revenue. This is owing to the fact that organic agents are relatively environment-friendly and are less hazardous to the workers. The inorganic agents segment, on the other hand, would showcase the fastest CAGR of 5.0% from 2022 to 2031. Rise in the number of residential and non-residential buildings drives the growth of the segment.

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The water-based segment contributed to the largest share in 2021

By type, the water-based segment held the highest share in 2021, garnering more than two-thirds of the global concrete surface retarders market revenue. This is because it is relatively more environment-friendly, as it comprises of a lower concentration of volatile organic compounds (VOC). The solvent-based segment, however, would showcase the fastest CAGR of 5.0% from 2022 to 2031. This is attributed to the fact that solvent-based concrete surface retarders typically have a high rate of reaction making it an ideal choice for large projects, as well as for projects that are facing deadline issues.

The commercial segment to rule the roost-

By application, the commercial segment contributed to the major share in 2021, holding more than two-fifths of the global concrete surface retarders market revenue. Rise in population and rapid urbanization across the world propel the growth of the segment. The residential segment, however, would cite the fastest CAGR of 4.9% from 2022 to 2031, due to surge in demand for housing.

Asia-Pacific garnered the major share in 2021

By region, Asia-Pacific held the highest share in 2021, garnering more than two-thirds of the global concrete surface retarders market revenue. The same region would also portray the fastest CAGR of 5.0% from 2022 to 2031. This is because these countries are also witnessing significant population growth and urbanization.
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Leading Market Players-

• Sika AG
• BASF SE
• MAPEI S.p.A.
• GCP Applied Technologies Inc.
• TK Products Construction Coatings
• The Euclid Chemical Company
• CEMEX S.A.B DE C.V.
• W. R. Meadows, Inc.
• RussTech, Inc.
• Fosroc, Inc.

The report analyzes these key players in the global concrete surface retarders market. These players offer innovative products to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

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