Concrete surface retarders Market Expected to Reach $131.5 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Concrete surface retarders Market," The Concrete Surface Retarders Market Size was valued at $82.7 million in 2021, and is estimated to reach $131.5 million by 2031, growing at a CAGR of 4.7% from 2022 to 2031. The market for concrete surface retarders is witnessing growth largely owing to increased investments in the development of residential and commercial buildings as well as infrastructure development. In addition, various advantages of concrete surface retarders over other methods of concrete etching such as acid etching, and abrasive blasting are also positively affecting the concrete surface retarders market growth.  

Depending on raw material, concrete surface retarders constitute organic agents and inorganic agents. Out of these, the organic agents segment accounted for a larger market share in terms of revenue in 2021. This is attributed to it being relatively environment friendly. Moreover, the inorganic agents segment is expected to grow with a higher CAGR during the forecast period. Furthermore, on the basis of type, the concrete surface retarders market is divided as per the medium that holds the active agents.

Thus, by raw material, the market is bifurcated into water-based and solvent-based. Out of these two segments, the water-based concrete surface retarders segment dominated the concrete surface retarders market in terms of revenue in 2021. This is largely attributed to easy and safe usability of water-based concert surface retarders. Furthermore, solvent-based concrete surface retarders are expected to dominate the concrete surface retarders market forecast by growing with a higher CAGR owing to their quick performance.   

Moreover, since concrete surface retarders are widely used in residential and commercial buildings, the market is bifurcated on the basis of the application of concrete surface retarders in residential construction and commercial construction. Out of these two segments, the commercial segment accounted for a higher concrete surface retarders market share in terms of revenue in 2021. This is largely attributed to wide-scale usability of concrete surface retarders in commercial buildings. In addition, the residential segment is expected to grow with a higher CAGR during the forecast period.  

However, by using concrete surface retarders, the effective depth of the concrete slab is reduced, which may negatively affect the strength of the concrete slab. Contrarily, the rise in demand for sustainable building materials including concrete surface retarders is one of the concrete surface retarders market opportunities.     

In 2021, Asia-Pacific dominated the global concrete surface retarders market, in terms of revenue, and the same segment is anticipated to grow with the highest CAGR, owing to increased investments for building development in countries such as India, Vietnam, and China  

However, various key players in the concrete surface retarders market had to stop their business in countries such as India, China, Vietnam, Germany, and the U.S., during the pandemic lockdown. This break directly impacted the concrete surface retarders industry. In addition, the lack of manpower and raw materials constricted the supply of raw materials for the construction of various concrete surface retarders; and negatively influenced the growth of the market. However, as of 2023 the COVID-19 outbreak has reduced substantially and key players in the market are recovering rapidly. Contrarily, the sponteneous growth in the number of COVID-19 cases in China at the end of 2022, was a matter of concern for all the industrial sector. It also led to a short term negative sentiments in the market.

Countries in Latin America such as Brazil, and Argentina, are developing at a rapid pace, and their potential for growth is very high. Furthermore, countries in Middle East are focusing on the rapid development of infrastructure for boosting their tourism industry. This creates a demand for hotels, resorts, and other tourist accommodations; thereby positively influencing the growth of the construction industry. In addition, South Africa is one of the most developed countries in the African region, with a population growth rate of 1.3% as of 2021. Such key factors offer lucrative growth opportunities for the key players in concrete surface retarders market. 

Key Findings Of The Study 

• The report provides an extensive analysis of the current and emerging Concrete surface retarders market trends and dynamics.   

• Depending on raw material, the organic agents segment dominated the concrete surface retarders market, in terms of revenue in 2021. Moreover, the inorganic agents segment is expected to dominate the market forecast by growing at a higher CAGR. 

• By type, the water based segment accounted for a higher revenue share of the market share in 2021. Furthermore, the solvent based segment is expected to grow with a higher CAGR. 

• By application, the commercial segment dominated the concrete surface retarders market, in terms of revenue in 2021; however, the residential segment is anticipated to grow with a higher CAGR during the forecast period. 

• Asia-Pacific dominated the concrete surface retarders market share in terms of revenue in 2021, and is projected to register the highest growth rate in the coming years.  

• The key players within the Concrete surface retarders market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the concrete surface retarders industry.  

• The report provides an extensive analysis of the current trends and emerging opportunities in the market.   

• In-depth concrete surface retarders market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.