According to latest research conducted, the global market of Plaster Retarder is anticipated to grow with a CAGR of 2% to 3% in between the assessment period of 2021-2031.
Economic growth, increased government assistance, and a strong focus on modernization and infrastructure development have all contributed to the expansion of the construction sector all around the globe. In the future, the construction sector’s expansion is projected to have a direct influence on the overall growth on the market.
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Owing to the increasing use of gypsum plaster for single-family and multi-family residential constructions, the market for this product is projected to witness continuing growth. The increased government spending in the real estate market for commercial construction coupled with the growing demand for high-class residential homes are the other major factors driving the growth of the plaster retarder market as well.
Plaster Retarder is generally used as an additive that slows the curing process of any kind of plaster including veneer, conventional plasters and setting-type joint compounds by slowing the chemical crystal formation that causes the gypsum plaster to set or harden. This in turn helps the plaster to remain workable for a longer time and helps in perfect final placing and smoothening.
Various added benefits of using a retarder with the gypsum plaster as mentioned above is the key factor rising the demand of the same in the construction sector.
Spike in demand for lightweight construction materials and a focus on reducing building structural load is expected to benefit the demand for plaster retarder as addition of these retarders helps reduce the dead load on the building structure and at the same time elongates the setting time for plaster which in turn is used for the renovation and construction of single-family homes and multi-story apartments for coating walls, ceilings, and partitions.
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Furthermore, growing consumer tastes for luxurious residences, as well as growing demands for larger and more gourmet kitchens, huge baths and private office spaces in their current homes, have resulted in a rise in residential renovation activity in the current pandemic as more and more people are cooking and working at home, which in turn aids to the increased consumption of the retarder during this period of time.
Rising consumer preferences for energy-saving solutions, 2020 energy efficiency refurbishment initiative by EU, increasing preference of do-it-yourself projects and green construction approaches, as well as the provision of sustainable infrastructure, will drive the market for the gypsum retarder growth across Europe.
Furthermore, increasing FDI investments, notably in the hotel, education, healthcare, and other commercial sectors, are bolstering the commercial renovation industry, which in turn can aid to the growth of the plaster retarder market in the region.
Increased government measures to create infrastructure and affordable housing projects, as well as an increase in foreign direct investment (FDI), are projected to enhance the construction sector in this region. This indirectly is expected to have an indirect impact on the plaster retarder market as a whole.
In the foreseeable future, rising urbanization in India and China coupled with the need for high-class residential homes due to the rising popularity of prefabricated and multiple interior designs and structures, is aiding to the increasing need for the retarder as an additive in gypsum plaster for the construction of interior walls, false decorative ceilings, TV units and wall dividers.
Some of the leading manufacturers and suppliers of Plaster Retarder includes –
Several key players in the present gypsum plaster market are anticipated to drive market expansion by boosting their use of specific retarders and introducing new chemical combinations.
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