Plaster Retarder Market is Estimated to Hit USD 252.60 Million by 2030 at a CAGR of 4.20% from 2023 to 2030; Growing Demand for Eco-Friendly and Sustainable Construction Materials to Positively Influence Market Growth
The research report on the plaster retarder market by SkyQuest is an indispensable tool for businesses seeking to make well-informed decisions. It highlights the most effective practices and strategies employed by prominent companies in the industry, serving as a blueprint for others to follow. Key decision-makers can depend on this report to make well-informed decisions and gain a competitive advantage in the market.
Westford USA, March 13, 2023 (GLOBE NEWSWIRE) — The latest research projects that the Asia Pacific region is the leading contributor to the revenue of the plaster retarder market, followed by Europe. The regional progress can be attributed to several factors, including the increasing consumer preference for luxurious residences and private office spaces in home settings. Additionally, the rise in government measures to create infrastructure and affordable housing projects and increased foreign direct investment is expected to drive market growth further. Furthermore, the world has witnessed rapid urbanization, which has led to the construction of new buildings and infrastructure projects, contributing to the demand for plaster retarders.
According to a report by SkyQuest, the construction equipment industry is projected to grow at a CAGR of 4.2% by 2028. The substantial progress of the construction equipment industry is expected to impact the plaster retarder market positively. Plaster retarders are chemical additives used in construction to slow down the setting time of plaster. The increasing demand for construction equipment is expected to lead to more construction projects, which, in turn, will create a greater demand for plaster retarders.
Browse in-depth TOC on “Plaster Retarder Market”
- Pages – 284
- Tables – 93
- Figures – 66
Plaster retarder is a type of additive used in the construction industry to slow down the setting time of plaster. It is typically a chemical compound that is added to plaster mixtures to extend the working time of the plaster before it hardens. Different types of plaster retarders are available, each with unique properties and recommended usage. Some retarders are designed to work with specific types of plaster, while others are more versatile to use with different types of plaster.
Prominent Players in Plaster Retarder Market
- Paras Enterprises
- USG Boral
- Sidley Chem
- Hebei Yida Cellulose Co. Ltd.
- Eazymix Ltd.
- Goodyear Global Tech (Beijing) Co. Ltd.
- Lawrence Industries
- Vinayak Gypsum & Interiors Pvt. Ltd.
- MUHU Construction Materials Co. Ltd.
- Fritz-Pak Corporation
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New Construction Segment to Drive Huge Sales owing to Rising Demand for High-Quality, Efficient Building Materials in the Construction Industry
The plaster retarder market saw promising growth in the new construction segment in 2022, and the emerging trend is likely to continue in the coming years. As a result, the segment is projected to dominate the market between 2023 and 2030, showcasing a robust performance. The growth of the new construction segment can be attributed to various emerging factors, such as the increasing demand for affordable housing, growing infrastructure development projects, and the rising trend toward sustainable construction practices. Moreover, the advent of new technologies and materials in the construction industry has further bolstered the use of plaster retarders, as they play a crucial role in enhancing the durability and aesthetics of buildings.
According to recent market research, the Asia Pacific region is estimated to register a high CAGR to dominate the market in 2022 and retain its position comfortably until 2030. According to the latest analysis by SkyQuest, the region is projected to contribute almost 43% of the industry’s output value by 2030, making it the largest market in the world. This growth is likely to have a positive impact on related industries, including the plaster retarder market. With the expected growth in the construction and real estate industry in the Asia Pacific region, there will be a sharp rise in demand for plaster retarders as well. The need for faster construction times and higher-quality finishes will drive this demand.
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Residential Construction Segment to Dominate the Market due to Rising Adoption of Modern Building Materials that Require the Use of Plaster Retarders
The plaster retarder market has witnessed a significant share captured by the residential construction segment in 2022. This segment is expected to continue its lead from 2023 to 2030, indicating a positive growth trend in the market. The demand for plaster retarders in the residential construction segment can be attributed to the growing trend of eco-friendly and sustainable building materials. Plaster retarders are made from natural ingredients and are free from harmful chemicals, making them an ideal choice for environmentally-conscious builders.
The year 2022 saw Europe take a leading role in the plaster retarder market, and the outlook for the region looks extremely promising, heading toward 2030. The European market has emerged as a major force in the global plaster retarder industry with the increased demand for high-quality building materials and a focus on sustainable construction practices. European countries have been at the forefront of promoting sustainable construction practices, and the use of plaster retarders is no exception. Furthermore, by slowing down the setting process of plaster, these additives allow for greater flexibility in construction and reduced waste, which aligns well with Europe’s push for a more circular economy.
In the highly competitive plaster retarder market, businesses must implement effective strategies to gain a foothold and succeed. The recent report by SkyQuest offers valuable insights for both new entrants and established brands. Understanding market trends and consumer behavior is crucial to developing a successful strategy. With the right approach, businesses can establish a strong foothold and gain a significant market share.
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Key Developments in Plaster Retarder Market
- CGC, a leading building materials company, has announced a significant investment of $210 million to construct a cutting-edge wallboard manufacturing plant in Alberta, Canada. This new facility is set to be a state-of-the-art complex that will bring the latest technological advancements to the production of wallboards. The plant will also employ advanced environmental controls to minimize its impact and ensure sustainable manufacturing practices.
- RMA Companies has recently announced its acquisition of PRI Group, known for providing top-notch testing, product development, validation, and certification services to various industries, including asphalt, transportation, and building materials. This acquisition is expected to bolster RMA’s capabilities further and expand its reach in these end markets. With this acquisition, RMA Companies will now leverage PRI Group’s expertise and experience to better serve its clients in the asphalt, transportation, and building materials industries.
- Core & Main Inc., a prominent distributor of water, wastewater, storm drainage, and fire protection products, has completed its acquisition of Landscape & Construction Supplies LLC. The acquisition includes most of the assets of Landscape & Construction Supplies, a well-known geosynthetics products provider with two locations in the Chicago metropolitan region. With the acquisition of Landscape & Construction Supplies LLC, Core & Main is poised to strengthen its position further as a leading distributor of water infrastructure products and related services in the United States.
Key Questions Answered in Plaster Retarder Market Report
- What are the historical and current growth drivers, and how have they impacted the industry’s evolution over time?
- How do market leaders differentiate between market share, revenue, and competitive tactics?
- What are the emerging trends predicted to shape the market’s future, and what are their potential impacts on industry growth and development?
- Which specific factors have led to the success of certain market players, and how have they positioned themselves to remain competitive and grow in the future?
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