A Summary of the Plaster Accelerator Market Development
As per Future Market Insights, the Plaster Accelerator market is anticipated to attain a value pool of US$ 270 Million by 2023-end. Global demand for Plaster Accelerator is expected to rise at a CAGR of 6.4% to US$ 500 Million in 2033.
Data Points
Key Statistics
Expected Market Value in 2023
US$ 270 Million
Projected Market Value in 2033
US$ 500 Million
Growth Rate (2023 to 2033)
6.4% CAGR
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Green Construction: The Environmental Benefits Driving Demand for Natural Plaster Accelerators
Advancements in Plastering Techniques: There have been significant advancements in plastering techniques, leading to an increased demand for plaster accelerators. Plaster accelerators can help improve the quality of plastering and reduce the time required for plaster to set.
Cost-effectiveness: Plaster accelerators are cost-effective compared to traditional plastering methods, reducing labour and material costs. This cost-effectiveness is driving the demand for plaster accelerators in the construction industry.
Increasing Demand for Green Buildings: The demand for eco-friendly and sustainable buildings is growing globally. Plaster accelerators are preferred in green buildings as they can reduce the use of energy and materials, leading to reduced carbon emissions. The increasing demand for green buildings is expected to drive the growth of the plaster accelerator market.
Building a Stronger Future: Opportunities for Plaster Accelerators in the Construction Industry
Developing Economies: Developing economies, such as India and China, have a rapidly growing construction industry due to urbanization and increasing population. The demand for plaster accelerators is expected to increase in these countries as they offer cost-effective and time-saving solutions for construction projects.
Green Building Certification: With the increasing demand for green buildings, there is an opportunity for plaster accelerator manufacturers to obtain green building certifications such as Leadership in Energy and Environmental Design (LEED). These certifications can help manufacturers differentiate their products and gain a competitive edge in the market.
Technological Advancements: The use of nanotechnology and other advanced technologies in plaster accelerators can lead to improved performance and new applications. For example, nanotechnology can be used to improve the strength and durability of plaster, leading to increased demand for plaster accelerators.
Product Diversification: Plaster accelerator manufacturers can diversify their product portfolios to cater to different construction needs. For example, they can offer plaster accelerators for specific applications such as exterior plastering or for use in cold weather conditions.
Strategic Partnerships: Strategic partnerships with construction companies and distributors can help plaster accelerator manufacturers expand their reach and increase sales. By partnering with construction companies, manufacturers can offer their products as a part of a comprehensive solution, leading to increased demand and revenue.
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Regional Differences and Tailored Solutions: Customizing Plaster Accelerators for Local Markets
Preference for Natural Plaster Accelerators: There is a growing preference for natural and organic plaster accelerators, as they are considered to be more environmentally friendly and sustainable. This trend is likely to continue as consumers become more conscious of the impact of their purchasing decisions on the environment.
Increased Competition: The plaster accelerator market is becoming more competitive, as new players enter the market and established players expand their product lines. This is driving innovation and improvements in product quality, which is benefiting consumers.
Regional Market Differences: The plaster accelerator market is not uniform across regions. Different regions have different construction practices, materials, and regulations, which affect the demand for plaster accelerators. As a result, manufacturers are tailoring their products to suit local needs and preferences.
Growing trend towards DIY home renovations: DIY enthusiasts are turning to plaster accelerators as an affordable and effective way to achieve professional-quality results.
Major factors driving the market are increasing demand from residential & commercial construction, and infrastructure segment.
However, high product cost and unfavourable conditions arising due to the COVID-19 outbreak are the major factors hindering the growth of the market in the terms of production.
What is Driving Demand for Plaster Accelerator?
Plaster accelerators find significant end use in construction sector. These are specialty construction chemicals which are mixed with plaster powder. These accelerators help in quick setting or hardening of plaster. Rapid growing construction industry requires such chemicals. One of the major benefits of using these chemicals its saves time which can be utilised in other activities and speed up the setting time of plaster.
Time saving and cost saving chemicals are in demand as it adds extra benefits to segment. Population, economy, infrastructure are the major driving factors for this market. The non-residential sectors include airports, railway stations etc which requires strong and quick solutions like these accelerators.
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Demand & Role of Plaster Accelerator
Plaster accelerators are special chemicals which can be added to any plasters to speed up the setting time. In the majority cases fast hardening of plasters is required and for that purpose these chemicals are used.
There are certain scenarios - like high-speed production line castings, slush moulding applications and very small minute-piece castings. It is a granular chemical which can be mixed with the gauging water before adding to plaster powder. It is a special chemical additive which is being used with finishing plaster.
The special additive speeds up the curing process of the plaster. These helps in speeding up the chemical crystal formation that causes plaster to set or harden in short time of period rather than the normal setting period. Therefore, it is recommended for shortening the setting time of finishing plaster. The market is growing as this is extensively used in construction industry and given the growth in urban construction, its demand is set to prosper in the upcoming decade.
Asia Pacific Demand Market Outlook for Plaster Accelerator
The growth of the economies across the APAC region has increased the demand for residential as well as construction sector which has propelled the demand for plaster accelerator. The widespread use of accelerator as a chemical in the construction process stimulated the growth of the market.
India, China and other countries are focusing on superior infrastructure and construction segment as it attracts the foreign investments which will eventually end up in growth of the overall sector and will open the new opportunities for this market. Asia dominates the market as there is increasing demand for construction of residences, offices airports, roads and other infrastructure. India, China, ASEAN nations are the major countries of APAC region owing to the growing infrastructure needs in the region.
Europe Demand Outlook for Plaster Accelerator
Increasing demand from construction and infrastructure activities in Europe is expected to drive demand for plaster accelerators and building plaster. There is a significant increase has been observed in the repair and maintenance of residential building in the Europe which is expected to drive demand for accelerators.
Infrastructure is something which comes up with new concepts and plays a major role in tourism which eventually contributes to the growth of any nation. Thus, boom in construction and infrastructure will increase the demand of accelerators.
Who are the Key Manufacturers and Suppliers of Plaster Accelerator?
The plaster accelerator market is diverse. Some of the key companies in the market include
These are some key manufactures which contributes the major part to the market and drives the demand in market.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
