PUBLISHER: TechSci Research | PRODUCT CODE: 1370801
PUBLISHER: TechSci Research | PRODUCT CODE: 1370801
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Global concrete surface retarders market is predicted to proliferate during the forecast period 2024-2028F, because of the expansion of building activities, the development of infrastructure, and rising demand from aesthetically pleasing applications such as in pool decks, patios, and driveways, etc.
Chemical compounds called "concrete retarders" are used to slow down the cement's curing process. Typically, concrete retarders are used to stop the concrete's surface from chemically hardening, allowing the cement to be washed off the following day to reveal the aggregate. Concrete surface retarders are simple to use and have a very short effective lifetime. The substance can be used to strengthen the bonds between waterproofing materials and to make surfaces with exposed aggregate. Over the anticipated period, the market is anticipated to be driven by rising product demand in applications such as precast concrete, slip-resistant surfaces, and decorative pavements. For removing uneven concrete surfaces, the product provides a simple and affordable option. It is ecologically beneficial because it contains no volatile organic compounds (VOCs). Growth in the market is anticipated to be fueled by rising demand for green building materials, which would help reduce the damaging effects of construction operations on the environment.
Market Overview | |
---|---|
Forecast Period | 2024-2028 |
Market Size 2022 | USD 95.5 Million |
Market Size 2028 | USD 124.72 Million |
CAGR 2023-2028 | 4.59% |
Fastest Growing Segment | Solvent-Based |
Largest Market | Asia-Pacific |
The market for concrete surface retarders is anticipated to increase as sustainable and green building construction methods gain popularity. A green building employs sustainable materials in its construction for superior surface polish and improved aesthetic appeal, among other quantifiable aims. Water-based retarders are good for the environment and add an aesthetic touch to buildings. They give concrete surfaces an anti-slip quality. There is a growth in demand for green buildings, especially in Europe and North America, because of various regulations that mandate the use of sustainable concrete in both commercial and residential constructions. Water-based concrete surface retarders are ideal for green buildings for vertical concrete surfaces and various horizontal applications, including sidewalks, driveways, construction joint floors, vertical construction joints, floors, and paving slabs, because they are solvent-free, environment friendly and have low odor. Precast concrete, slip-resistant surfaces, and aesthetically pleasing pavements are few examples of the applications that are projected to boost demand for the products and hence, the global concrete surface retarders market is expected to boost in the upcoming years.
Tax benefits: The Income Tax Act of India grants tax advantages to builders of LEED-certified structures. Green building assets including solar panels, rainwater harvesting systems, and waste management systems are eligible for up to 100% depreciation claims from developers.
Loans: Through the Indian Renewable Energy Development Agency (IREDA), which is part of the Indian government, low-interest loans are made available for green-certified construction projects.
Public procurement: The Indian government has implemented a policy that requires all government buildings to be meet green building standards and certified green standards.
State-level incentives: Many Indian states have policies and plans in place to encourage the certification of green buildings, including tax exemptions and financial incentives for projects promoting renewable energy and energy-efficient structures.
Fast-track approvals: Buildings that are certified green are eligible for incentives including expedited inspections, fast-track approvals, and reduced building fees.
Promotion of renewable energy: The government provides subsidies and tax benefits to promote renewable energy in the country. Which results in indirectly promoting LEED-certified buildings.
Green Buildings Present a Multi-Trillion-Dollar Opportunity - As a result of new legislation and rising demand for sustainable solutions, green buildings will keep expanding their market share. The United States, China, Canada, and India are among the top 10 markets where the U.S. Green Building Council certified over 432 million square feet of LEED space in 2021. The greatest potential exists in emerging markets (EMs) for new green building initiatives. Globally, green buildings provide a USD 24.7 trillion investment potential by 2030 in EMs alone, led by the EMs projected to have the highest rate of urban population increase. According to population and urbanization estimates, the East Asia and Pacific area offers the highest investment potential at USD 16.0 trillion, followed by Latin America at USD 4.1 trillion.
The surge in the construction industry raises the market for concrete surface retarders.
The global recession of 2008 caused a significant dip in the construction sector, but since, it has continued to grow positively around the globe. Construction activity has increased recently in nations including China, India, and the United States. With 76 new skyscrapers constructed in China and 10 in the United States in 2022, both nations are experiencing rapid development. Additionally, emerging markets are seeing an increase in the building industry. For instance, the "Make in India" campaign was started by the Indian government to encourage new development projects in the nation. A significant increase of the construction industry in both developed and developing countries might lead to a positive future for the market for concrete surface retarders. The market is expanding because of the increasing use of concrete surface retarders in a variety of applications, including bridge decks, sidewalks, curbs, ramps, facade cladding, and concrete segment joints. Additionally, various countries such as India and China has invested in the infrastructure sector to enhance the lifestyle of the population, providing better facility in term of hospitality & highly advanced hospital, and helps to boost the tourism sector among others across the world. Some investments are below.
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