According to a new report published by Allied Market
Research, titled,"Construction Chemicals Market by Type and Applications:
Asia & MEA Opportunity Analysis and Industry Forecast, 2018 - 2025,"The
Asia and MEA construction chemicals market was valued at $15,907.9 million in
2017 and it is expected to reach $27,740.7 million by the end 2025, growing at
CAGR of 7.2% from 2018 to 2025.
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The construction chemicals market is expected to
grow at a significant rate during the forecast period, due to rise in
construction activities in the emerging economies such as China, India, Africa
UAE, Saudi Arabia, and Gulf Cooperation Council countries. Surge in urban
population and increase in infrastructural spending due to augmented
construction output are expected contribute toward the growth of the Asia &
MEA construction chemicals market. Rise in the investment in private and public
sectors further widens the growth trajectory of construction chemicals. The
market is highly diverse in nature; therefore, the key players have adopted
mergers and acquisition as a key strategies to improve their scale, manufacturing
efficiency, and market penetration. One of the recently observed Asia & MEA
construction chemical market trend includes rising awareness of polyurethane
based concrete admixtures in response to high value benefits associated with
it.
Construction chemicals are high-value products,
which are majorly used by elite companies. On the other hand, private
contractors are using low-priced materials over construction chemicals to
reduce their overall construction cost. Concrete admixture is one of the prominent
types of construction chemicals, which is used in bulk amount with concrete.
Developed economies such as Japan and South Korea are dominant consumers of
concrete admixtures used in maintenance and repair activities. After concrete
admixture, waterproofing, and flooring compounds are used largely that offer
protection and increase load-bearing capacity of concrete foundation. These
compounds are available in solid & liquid forms and slurry, and
two-component coating forms that avail convenience to consumers. However, lack
of awareness of long-term benefits of construction chemicals in emerging
countries hampers the use of these high-value chemicals. Conversely, launch of
various regulatory guidelines by governments of various geographies to mandate
the use of prime construction chemicals/material is expected to offer
remunerative opportunities for the Asia & MEA construction chemicals market
growth.
Increase in awareness for energy conservation
buildings and sustainable infrastructure fuels the adoption of construction
chemicals in developed economies as compared to underdeveloped economies, due
to high product awareness and lesser price sensitivity. This further serves as
a lucrative opportunity for expansion of Asia & MEA construction chemicals
market size.
Increase in construction activities from each
segment, such as residential, commercial, repair, and industrial, drives the
adoption of construction chemicals. The economic development in emerging
economies is responsible for the rapid growth in the number of industries. The
mining industry has grown rapidly in the African market, whereas many foreign
countries are investing in Asia in the industrial sector. This increase in
industrialization fuels the demand for construction activities, which in turn boosts
the development of the construction chemicals market. Industrialization in this
region is further expected to strengthen during the forecast period by
expanding Asia & MEA construction chemicals market growth.
Moreover, rise in urbanization and upsurge in
population in the developing countries create the basic requirement for
sustainable and eco-friendly infrastructure. The demand for construction
chemicals is anticipated to increase in emerging economies and the impact of
these factors is expected to create significant opportunities for the market
expansion during the forecast period.
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Key
Findings of the Construction Chemicals Market:
- The Asia-Pacific Construction
Chemicals market is predicted to hold a share of over 86.9% by 2025
- The concrete admixture in the
type segment is accounted for largest share of over 34.4% in the market in
terms of revenue in 2017, and is predicted to maintain the lead during the
forecast period
- The residential in the
application segment is projected to have a share of over 39% by 2025
Market players have adopted expansion, acquisition,
and collaboration as their key strategies to gain competitive advantage in the
market. The key players profiled in the report include Arkema SA, Ashland Inc.,
BASF SE, Fosroc International Inc., MAPEI S.P.A., Pidilite Industries Limited,
RPM International Inc., SIKA AG, DowDuPont Inc., W.R. Grace and Co., and
Others. Some of the other player includes 3M Chemical Company, Henkel AG, Adrex
GmbH, and Evonik Industries.
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