The global cement grinding aids market accounted for around US$ 3,230.3 million in terms of value in 2019 and it is expected to exhibit a CAGR of 5.7% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
The cement grinding aids market is expected to be driven by the increasing number of construction projects in countriesacross the globe. For instance, in 2019, various construction projects were announced in Saudi Arabia including Neom, Qiddiya entertainment city, the Red Sea Project, Amaala, Jeddah Tower, Jabal Omar, Ministry of Housing's Sakanihomes, King Fahd Medical City Expansion, Riyadh Rapid Bus Transit System, King Abdullah Bin Abdulaziz Medical Complexes, Saudi Aramco's Berri and Marjan, King Salman Energy Park (Spark), Saudi Aramco-Total's PIB factory, and others. This is expected to drive growth of the cement grinding aids market in the Middle East region.
The cement grinding aids market is expected to witness huge growth opportunities, as there are increasing concerns about the reduction of energy consumption and the companies are focusing towards improvements in fineness of the cement particles. The growing construction sector in the emerging economies of Asia Pacific region is expected to drive growth of the cement grinding aids market.
The global cement grinding aids market is segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Amongst all the regions, the North America region is expected to experience significant growth in the cement grinding aids market over the forecast period. The growth of the market is driven by increasing construction activities, majorly in the U.S. For instance, according to data released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development in June 2019, number of newly completed residential buildings was around 900 thousands of units in May 2014, which increased to 1,200 thousands of units in May 2019. This increase in the number of residential constructions has led to growth of the cement grinding aids market in the North America region.
Among region, Asia Pacific held dominant position in the global cement grinding aids market in 2019, accounting for 34.2% share in terms of value, followed by North America.
The cement grinding aids market is expected to experience huge growth prospects over the forecast period, as the key players are adopting growth strategies such as merger and acquisition, partnership, and collaboration, in order to gain market share and expand their business in the global cement grinding aids market. For instance, in 2018, CHRYSO SAS, which has geographic presence in the Middle East, acquired the operating business divisions of RUREDIL S.P.A., an Italy-based company, which develops and produces concrete admixtures. The company’s segments include concrete admixtures, cement additives, technical mortars, accessories for precast systems, fibers, and concrete restoration.
Cement Grinding Aids Market - Impact of Coronavirus (Covid-19) Pandemic
The cement grinding aids industry is one of the major victims of Covid-19 pandemic, which has resulted in disruption of the entire supply chain of raw materials and finished goods. The population is more focused on fulfilling their basic needs rather than construction activities. With the government guidelines for lockdown, the companies engaged in the production of cement grinding aids are not operational. Also, there is a drastic short-term decrease in demand for cement grinding aids from end-use industries such as construction and others. All these factors have negatively impacted the cement grinding aids market.
Key players operating in the global cement grinding aids market include Ashtech India Pvt. Ltd, BASF SE, CHRYSO SAS, Ecmas Group, GCP Applied Technologies Inc., KMCO LLC, MYK Schomburg, PROQUICESA, Shalimar Tar Products, Sika AG, Thermax Global, and Unisol among others