According to the new market research report on the "Concrete Surface Retarders Market by Raw Material (Organic Agents and Inorganic Agents), Type (Water-based and Solvent-based), Application (Residential and Commercial), and Region (North America, Europe, Asia Pacific) - Global Forecast to 2023", published by MarketsandMarkets™, the market is projected to grow from USD 72.7 million in 2018 to USD 89.4 million by 2023, at a CAGR of 4.2% between 2018 and 2023. Increase in urban population, demand for green buildings, and growth in infrastructure and industrialization are the main growth drivers of the Concrete Surface Retarders Market. Other factors, such as increasing disposable income of people in developing countries and changing preferences of end-users for aesthetically appealing buildings also drive the market's growth.
The organic agents segment is projected to gain maximum traction during the forecast period.
Based on raw material, the organic agents segment is estimated to dominate the market in 2018 and is also projected to grow at a higher rate than the inorganic agents segment over the next five years. The main factors attributed to the dominance and higher growth rate of organic agents include their wide range of applications in vertical & horizontal concrete surfaces and cost benefits as compared to inorganic agents.
The water-based segment is projected to gain maximum traction during the forecast period.
Based on type, the water-based segment is estimated to dominate the market in 2018, and this trend is projected to continue during the forecast period. Water-based retarders are eco-friendly, non-hazardous, and odorless. The usage of these retarders is also supported by various regional regulatory bodies due to their lower VOC content as compared to the solvent-based retarders. Water-based retarders can be safely applied on outdoor and low ventilation areas.
The commercial segment is estimated to dominate the market, in terms of value, through 2023.
Based on application, the commercial segment is estimated to dominate the market in 2018 and is also projected to grow at a higher rate than the residential segment during the forecast period, in terms of both value and volume. The growth of the commercial segment can be attributed to rapid industrialization and rising public & private investments for infrastructure development in the emerging economies of Asia Pacific, the Middle East, and South America. Concrete surface retarders are widely used in commercial applications, such as bridge decks, sidewalks, curbs, ramps, facade cladding, and concrete segment joints.
The European region accounted for the largest share of the Concrete Surface Retarders Market.
Europe contributes a major share to the global Concrete Surface Retarders Market. Factors such as increasing new residential construction activities, growing demand for green building structures, and supportive government initiatives are expected to drive the market for concrete surface retarders in Europe. 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.
The global Concrete Surface Retarders Market is dominated by players such as Sika (Switzerland), BASF (Germany), MAPEI (Italy), GCP Applied Technologies (US), CEMEX (Mexico), W. R. Meadows (US), The Euclid Chemical Company (US), RussTech (US), Fosroc (UAE), and Parchem Construction Supplies (Australia).
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