(MoneyNewsWire.Net, November 16, 2021 ) The commercial application segment is projected to grow at a higher ratein the concrete surface retarders market.
Increasing disposable income in developing countries,rapid urbanization, and increasing investments in infrastructure are some of the factors driving the concrete surface retarders market growth. Based on application, the commercial segmentis estimated to account fora large share of the concrete surface retarders market in 2018. This segment is also projectedto grow at ahigher rate than the residential segment during the forecast period. The commercial market of concrete surface retarders is driven by the economic growth in developing countries, such as China, India, and Brazil. There is a high demand for concrete surface retarders from the commercial sector owing to their increasing use in transportation structures, bridge decks, sidewalks, curbs, and concrete segment joints, among others.
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MarketsandMarkets projects the concrete surface retarders market to grow from USD 72.7 million in 2018 to USD 89.4 million by 2023, at a CAGR of 4.2% from 2018 to 2023.
Based on raw material, the organic agents segment is projected to grow at a higher rate than the inorganic agents segment from 2018 to 2023. The growing demand for organic agents is attributed to their wide range of applications (in vertical and horizontal concrete surfaces) and cost benefits.
On the basis of type, the concrete surface retardersmarket hasbeen segmented into water-based and solvent-based. The solvent-based segment is projected to grow at a higher rate during the forecast period,owingtothe usageof solvent-based retarders in various applications, such as architectural facade elements, artificial stones, roughing of separating joints, and concrete cladding, among other applications.The growth can be further attributed to theabrasion-resistant and slip-resistant properties of solvent-based retarders.
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Europeis projected to be the fastest-growing region inthe concrete surface retardersmarket. In terms of growth rate, Europe was followed by North America.The growth of the market in Europe is expected to be driven bythe increasing number of new residential construction activities, growing demand for green building structures, and supportive government initiatives.Increasing demand for new residential units in urban areas, coupled with subsequent private and public sector investments in residential and infrastructural construction projects, is also expected to create growth opportunities for the concrete surface retarders market in the region.
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