Concrete Surface Retarders Market Assessment, By Material Type [Organic Agents, Inorganic Agents], By Product Type [Water-based, Solvent-based], By Application [Precast Panels, Sidewalks and Walkways, Floor Slabs, Swimming Pools, Others], By End-use Indus

Concrete Surface Retarders Market Assessment, By Material Type [Organic Agents, Inorganic Agents], By Product Type [Water-based, Solvent-based], By Application [Precast Panels, Sidewalks and Walkways, Floor Slabs, Swimming Pools, Others], By End-use Industry [Residential, Commercial, Industrial, Infrastructure], By Region, Opportunities and Forecast, 2016-2030F

Global concrete surface retarders market size was estimated at 104.3 million litres in 2022, which is expected to grow to 137.34 million litres in 2030 with a CAGR of 3.5% during the forecast period between 2023 and 2030.

The concrete surface retarders market is gaining traction due to primary determinants such as increasing building and construction activities across regions, including Asia-Pacific, Middle East, and North America, and rising adoption of water-based concrete surface retarders to ensure superior sustainability. Furthermore, the government initiatives for infrastructure project development will create a favorable market growth scenario for the concrete surface retarders industry during the projected forecast period.

The increasing demand for larger living spaces, surging investment in airport development projects, and development of new industrial zones are the prime elements supplementing the growth of the building and construction sector. In addition, the adoption of water-based concrete surface retarders is increasing as the products are designed to gradually slow the set of surface mortar in concrete to expose the aggregate. Henceforth, bolstering building and construction sector and surge in demand for water-based concrete surface retarders to ensure high-temperature concreting and heat curing are accelerating the market growth. Nevertheless, the fluctuations in the prices of the materials utilized for concrete surface retarders pose a major bottleneck for market growth.

Increasing Demand for Water-Based Concrete Surface Retarders is Augmenting Market Growth

The various advantages associated with water-based concrete surface retarders are its characteristics including low volatile organic compound (VOC), superior cost-effectiveness, and non-toxic. As a result, the adoption of water-based concrete surface retarders is increasing compared to high volatile organic compounds (VOC) containing solvent-based concrete surface retarders. The water-based concrete surface retarders are utilized in residential, commercial, and industrial construction projects to ensure efficient applications in areas with low ventilation and outdoors.

For instance, according to the 2023 statistics published by the European Construction Industry Federation (FIEC), in 2022, the investments for housebuilding projects in European Union reached USD 576,826.5 million, representing an annual growth rate of 2.2%. Thus, the increase in building and construction activities fosters the demand for water-based concrete surface retarders to slow down the chemical process, which, in turn, augments the market growth.

Booming Commercial Construction Projects are Spurring the Growth of the Market

The vital properties of concrete surface retarders include reduced labor costs and easy dilution to suit application. Thus, concrete surface retarders are ideal for applications in commercial construction such as precast panels, outer sidewalks and walkways, and floor slabs. The growth of commercial construction activities is attributed to increasing investment in renovating and redeveloping office buildings, growing demand for shopping malls, and government initiatives for railway station construction.

For instance, in 2023, various commercial construction project development commenced at the global level, including Saya Status Shopping Mall in India (project completion year 2026), the new terminal at Montreal Saint-Hubert Airport in Canada (project completion year 2025), and Markisches Zentrum Redevelopment in Germany (project completion year 2024). Therefore, the booming commercial construction projects fuel the demand for concrete surface retarders to maintain workability for a longer period, thereby supplementing the market growth.

Rapid Pace of Construction Activities in Asia-Pacific are Driving the Market Growth

The economic advancement of Asia-Pacific is driven by the major share of the building and construction industry in the overall GDP growth of the region. Factors including the increasing development of high-rise residential buildings, surging public-private partnerships for the infrastructure development projects, and the construction of new educational institutes, are accelerating the growth of the construction activities in the Asia-Pacific.

For instance, as of October 2023, various construction projects are in the development phase, including Yamaguchi City Government Building in Japan (project completion year 2025) and Don Mueang–Suvarnabhumi–U-Tapao High-Speed Railway in Thailand (project completion year 2029). As a result, the rapid pace of construction activities in Asia-Pacific is augmenting the demand for precast panels, sidewalks and walkways, and floor slabs, which is fostering market growth.

Future Market Scenario

The leading manufacturers of construction chemicals are forming joint ventures to increase the production of concrete surface retarders, which in turn, will create a lucrative growth opportunity for the market in the coming years. For instance, in June 2023, Fosroc, Inc., a leading player in concrete surface retarders, formed a joint venture with Chemtech, an Egypt-based construction chemical manufacturer, to produce Fosroc products, including concrete surface retarders.

The prominent players in the construction industry are entering the concrete surface retarders with an acquisition strategy. Thus, the supply of concrete surface retarder products will increase as the acquiring companies have a strong distribution channel in the global market, thereby creating a potential for industry growth. For example, in May 2023, Cinven, a United Kingdom-based company acquired Master Builders Solutions, a concrete surface retarders manufacturer in the United States.

The favorable growth outlook for the construction industry will augment the growth of the concrete surface retarders market in the forecast period. For instance, according to Invest India, the Indian construction sector will reach USD 1.4 trillion by the end of 2025.

Key Players Landscape and Outlook

Several major players holding a leading share in the global concrete surface retarders market include Sika AG, CHRYSO (Compagnie de Saint-Gobain S.A.), MAPEI S.p.A., and Cemex S.A.B. DE C.V. The above-listed players are focusing on strategies such as acquisitions, partnerships, and research and development initiatives, which is leading to increased competitive rivalry in the overall market.

In September 2021, Compagnie de Saint-Gobain S.A., a manufacturer of building products in France acquired CHRYSO, a France-based company that is offering concrete surface retarders product range. The focus of the acquisition was to increase the revenue share of Compagnie de Saint-Gobain S.A. in the construction chemical industry.