Asia-Pacific Construction Chemicals Market - Segmented by Product Type, End-user Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The Asia-Pacific Construction Chemicals market was valued at USD 19419.036 million in 2017 and is expected to register a CAGR of 6.84% during the forecast period (2018 - 2023). The market is expected to increase rapidly in the emerging economies, due to the increase in demand from the real estate sector.
Construction chemicals, regarded as specialty chemicals, are defined as chemical compounds that are added in construction materials, such as cement and concrete, at the construction site to improve the performance, enhance workability, as well as to protect and hold construction material and the finished structure strong and bonded together.
Growing Demand in Real Estate Sector
The increasing construction activities in emerging economies, such as India & China, and the increased adoption of innovative construction procedures are driving the market of the infrastructure sector. Furthermore, the growing adoption of ready-to-mix concrete in the region and the rising FDIs in the real estate sector is expected to offer numerous opportunities for the growth of the Asia-Pacific construction chemicals market. Demand for construction chemicals has a direct correlation with the level of new and redevelopment construction activity being undertaken in a specific region. The requirements of adequate housing for the growing populations in the world’s developing regions would fuel demand for residential construction, which, in turn, would be instrumental in propelling the construction in other areas, such as the development of infrastructure, industries, and commercial spaces. Asia-Pacific and the Middle East have a large contributed in this sector, as there have been large-scale infrastructure, industrial, and commercial activities in these regions.
China to Dominate the Market
China is the largest market and accounted for more than 63% of the Asia-Pacific construction chemicals market. It is expected to grow at a CAGR of 7.45% during the forecast period (2018-2023). The continuous improvements in economic conditions in the region have enhanced the financial status of the consumers, in turn, boosting the demand for buildings and other infrastructural activities in the region. The region is fast becoming a new industrial hub, consequently, making the Asia-Pacific an area of immense potential and opportunities.
Key Developments in the Market:
March 2018: L&T Construction and DFCCIL signed a contract valued INR₹2,864 Crores for Eastern Dedicated Freight Corridor. The prestigious order was secured against stiff competition from five other major EPC companies.
February 2018: AkzoNobel and Evonik started a joint venture plant for chlorine and potassium hydroxide. The facility uses state-of-the-art membrane electrolysis technology for its production process.
Major Players: Mapei Inc., Sika AG, BASF SE, W.R.Grace Co., and RPM International Inc., among others.
Reasons to Purchase this Report
To understand the impact of end-user applications on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Identifying the countries that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
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