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Cortec named key player in concrete admixture market

The 2023 admixture market was valued at $20.26 billion USD.

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Cortec® is proud to be listed as a key market player in the 2024 Concrete Admixture Market: Global Forecast 2024-2030 published by 360iResearch. The report offers insight into important market drivers and opportunities that harmonize with Cortec’s trajectory in the field of MCI® (Migrating Corrosion Inhibitor™) admixtures and signal exciting opportunities for continued growth.

A Growing Market
According to 360iResearch, the 2023 admixture market was valued at $20.26 billion USD. It is expected to reach $33.23 billion by 2030 with an estimated CAGR of 7.31%. This market covers all admixtures, including corrosion inhibitors, set retarders, superplasticizers, and water-reducers. While growth is expected across the globe, the largest market will continue to be Asia, which is experiencing escalating urbanization and spending on infrastructure. 360iResearch identifies increased construction and the demand for durability, performance, and sustainability as key drivers of the admixture market. Not only is the market asking for structures that last longer and theoretically reduce the need to create more new concrete (a process with high-CO2 emissions); there is also rising interest in using biobased admixtures to leave behind a better environmental footprint.

Cortec’s Place in the Admixture Market
The 360iResearch report identifies Cortec® as both a key player and a “Pathfinder” in the admixture market. These designations are significant in a market that comprises a wide variety of admixtures and relegates 60% of the players into the category of “Others” that go unnamed. Understandably, large public chemical companies such as DOW, which offer a broad general selection of admixtures, take the largest market share, making it even more impactful to know that Cortec®, a private specialty admixture company, stands out among chemical and construction material giants. While the report suggests that Pathfinders stand to benefit from more business strategy development, it also notes that they serve as potential challengers to “Forefront vendors” because of their innovative products. The report also draws attention to Cortec’s many MCI® DOT approvals.

Ready to Meet Demands
Cortec® is well-poised to meet the demands of today’s construction market as outlined in the admixtures report. In terms of sustainability, the main purpose of MCI® admixtures is to extend the service life of reinforced concrete structures by mitigating corrosion, one of the primary enemies of concrete longevity. Furthermore, while other biobased admixtures have recently emerged on the market, Cortec® remains the leader in biobased corrosion inhibiting admixtures, offering the only USDA Certified Biobased Product (MCI®-2005) of its kind.

MCI® admixtures also stand out in terms of compatibility and ease of use. As noted in the admixture report, the former is a major challenge because admixtures often change the workability, set time, and strength gain of concrete. However, contractors typically find that MCI® admixtures do not negatively affect concrete properties and do leave mixes very easy to work with. Moreover, with Cortec® distribution centers located in all major regions of the world, end users are well-equipped to source MCI® for construction projects in the Asia-Pacific, Europe, the Middle East, Africa, and the Americas.

Get Involved in the Admixture Market
The admixture market is on the brink of exciting opportunities that call for sustainability and durability features like those offered by MCI®. Cortec® is therefore uniquely positioned to continue making its mark among all key players, both large and small. Contact Cortec® today to learn more about taking advantage of Migrating Corrosion Inhibitors in this dynamic construction market.

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Concrete

Steel companies face Rs 89,000 crore inventory crisis

Steel firms grapple with Rs 89,000 crore stockpile amid import surge.

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Steel companies in India are facing a significant challenge as they contend with an inventory crisis valued at approximately Rs 89,000 crore. This situation has arisen due to a notable increase in steel imports, which has put pressure on domestic producers struggling to maintain sales in a competitive market.

The surge in imports has been fueled by various factors, including fluctuations in global steel prices and increased production capacities in exporting countries. As a result, domestic steel manufacturers have found it difficult to compete, leading to rising stock levels of unsold products. This inventory buildup has forced several companies to reassess their production strategies and pricing models.

The financial impact of this inventory crisis is profound, affecting cash flows and profitability for many steel firms. With domestic demand remaining volatile, the pressure to reduce prices has increased, further complicating the situation for manufacturers who are already grappling with elevated production costs.

Industry experts are urging policymakers to consider measures that can support local steel producers, such as imposing tariffs on imports or enhancing trade regulations. This would help to protect the domestic market and ensure that Indian steel companies can compete more effectively.

As the steel sector navigates these challenges, stakeholders are closely monitoring the situation, hoping for a turnaround that can stabilize the market and restore confidence among investors. The current dynamics emphasize the need for a robust strategy to bolster domestic production and mitigate the risks associated with excessive imports.

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Concrete

JSW and POSCO collaborate for steel plant

JSW Group and POSCO ink MoU for steel project.

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JSW Group has signed a Memorandum of Understanding (MoU) with South Korea’s POSCO Group to develop an integrated steel plant in India. This collaboration aims to enhance India’s steel production capacity and contribute to the country’s growing manufacturing sector.

The agreement was formalized during a recent meeting between executives from both companies, highlighting their commitment to sustainable development and technological innovation in the steel industry. The planned facility will incorporate advanced manufacturing processes and adhere to environmentally friendly practices, aligning with global standards for sustainability.

JSW Group, a leader in the Indian steel industry, has expressed confidence that the joint venture with POSCO will bolster its position in the market and accelerate growth. The project is expected to attract significant investments, generating thousands of jobs in the region and contributing to local economies.

As India aims to boost its steel output to meet domestic demand and support infrastructure projects, this partnership signifies a crucial step toward achieving those goals. Both companies are committed to leveraging their expertise to develop a state-of-the-art facility that will produce high-quality steel products while minimizing environmental impact.

This initiative also reflects the increasing collaboration between Indian and international firms to enhance industrial capabilities and foster economic growth. The MoU sets the stage for a promising future in the Indian steel sector, emphasizing innovation and sustainability as key drivers of success.

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Concrete

Ambuja plans expansion through acquisitions

Ambuja Cements targets 140 million tonne capacity.

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Ambuja Cements, a subsidiary of the Adani Group, is strategically positioning itself for substantial growth with plans to expand its production capacity to 140 million tonnes per annum (MTPA). This ambitious target will be pursued primarily through a series of acquisitions, reflecting the company’s intent to strengthen its foothold in the Indian cement market.

The company aims to tap into the growing demand for cement driven by ongoing infrastructure projects and urbanization across India. Ambuja Cements has identified several potential acquisition targets that align with its long-term growth strategy, aiming to bolster its existing capacity and operational efficiency.

With this expansion plan, Ambuja Cements is poised to enhance its competitive advantage in the rapidly evolving cement industry. The company’s proactive approach underscores its commitment to maintaining a leadership position in the market, particularly as the construction sector continues to rebound post-pandemic.

Ambuja Cements’ expansion initiative will also contribute to the Adani Group’s broader goals of sustainability and innovation. By incorporating advanced technologies and sustainable practices in its operations, the company seeks to minimize its environmental footprint while maximizing productivity.

The anticipated growth in capacity will not only support Ambuja Cements’ business objectives but also play a crucial role in meeting the infrastructure needs of a growing nation. As the demand for cement escalates, Ambuja Cements is determined to ensure that it is well-equipped to meet the challenges and opportunities that lie ahead in the Indian market.

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