Report : North America Construction Additives Market Forecast to 2030 - Regional Analysis - by Type [Cement Additives, Concrete Admixtures (Precast Concrete and Ready-Mix Concrete), Paints and Coatings Additives, Adhesives and Sealants Additives, Plastic Additives, Bitumen Additives, and Others] and Application (Residential, Commercial, Infrastructure, and Others)
At 5.7% CAGR, North America Construction Additives Market is Projected to be Worth US$ 21,849.34 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the North America construction additives market was valued at US$ 14,065.13 million in 2022 and is expected to reach US$ 21,849.34 million by 2030, registering a CAGR of 5.7% from 2022 to 2030. Development of sustainable construction additives and strategic initiatives by key market players are among the critical factors attributed to drive the North America construction additives market growth.
Governments of various countries have imposed a few regulations on using sustainable chemicals to manufacture products in processing industries, including chemicals & materials and paints & coatings, to ensure better protection of human health and the environment. These regulations are set to reduce greenhouse emissions and have compelled polymer manufacturing companies to increase investments in developing naturally derived raw materials. Rising awareness regarding greenhouse gas (GHG) emissions is projected to surge the demand for bio-based and sustainable polymer products. Governments of various countries are adopting several initiatives to increase the awareness and development of bio-materials and recycled materials.
Nouryon launched sustainable ingredients for the asphalt market in 2019. The company launched Wetfix G400, a non-amine adhesion promoter derived from renewable resources. Wetfix G400 is aimed at meeting customers' needs for a sustainable alternative that maintains asphalt mixture performance and durability. Adhesion promoters are added to asphalt used in road construction and maintenance to protect from damage caused by moisture and extend the service life of asphalt pavement. However, conventional adhesion promoters are incompatible with polyphosphoric acid (PPA), which is growing in popularity as an economical way to modify asphalt binders to the desired performance level. Therefore, the development of sustainable construction additives is expected to drive the North America construction additives market during the forecast period.
On the flip side, fluctuations in raw material prices hampers the growth of North America construction additives market.
Based on type, the North America construction additives market is segmented into cement additives, concrete admixtures, precast concrete, ready-mix concrete, paints and coatings additives, adhesives and sealants additives, plastic additives, bitumen additives, and others. The cement additives segment held 29.5% market share in 2022, amassing US$ 4,153.67 million. It is projected to garner US$ 6,575.52 million by 2030 to register 5.9% CAGR during 2022-2030.
In terms of application, the North America construction additives market is categorized into residential, commercial, infrastructure, and others. The residential segment held 36.8% share of North America construction additives market in 2022, amassing US$ 5,181.39 million. It is anticipated to garner US$ 8,136.06 million by 2030 to expand at 5.8% CAGR during 2022-2030.
Based on country, the North America construction additives market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 83.3% share of North America construction additives market in 2022. It was assessed at US$ 11,721.74 million in 2022 and is likely to hit US$ 18,277.28 million by 2030, registering a CAGR of 5.7% during 2022-2030.
Key players operating in the North America construction additives market are W. R. Grace & Co, Chryso SAS, Dow Inc, BASF SE, Heidelberg Materials AG, CRH Plc, Cemex SAB de CV, Sika AG, Evonik Industries AG, RPM International Inc, Mapei SpA, and Holcim Ltd, among others.
- In November 2023, VERIFI in-transit concrete technology is integrated into the High-Speed Two (HS2) project, enhancing real-time monitoring, measurement, and management. It eliminates manual testing and improves efficiency and sustainability. Trials show it can cut 1,500 tons of carbon, reduce waste, and improve quality control. The integration enhances safety and productivity on construction sites.
- In June 2023, Heidelberg Materials North America opened its second-largest cement plant in Mitchell, Indiana, with a capacity of 2.4 million tonnes of cement a year. The facility, which is one of the most technologically advanced and sustainable ever built, will reduce CO2 emissions and energy consumption by almost 30%. The plant is part of Heidelberg Materials' commitment to becoming the first fully decarbonised cement plant in the USA and will contribute to the company's offering of low-carbon cement and concrete. The plant is also home to Heidelberg Materials' largest Carbon Capture, Utilisation, and Storage project, aiming to capture 95% of CO2 emissions from the facility and store them in a local reservoir by 2030. The plant is expected to help address US cement supply chain constraints and improve the plant's distribution process. The plant is designed according to the latest technological standards, with a new automated lab, smart motor control center, and high-speed automated rotary-type packing machine.
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