Construction Chemicals - Worldwide Market Analysis & Outlook (2018-2023): Concrete Admixture - A Huge Market Potential - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 20, 2018--The “Construction Chemicals Market - Segmented by Product Type, End-user Industry, and Geography - Growth, Trends and Forecasts (2018 - 2023)” report has been added to ResearchAndMarkets.com’s offering.The global construction chemicals market is expected to be valued at USD 43,873.68 million in 2018 and is anticipated to reach USD 59,350.07 million by 2023, at an estimated CAGR of 6.23% over the forecast period 2018-2023.Increasing demand from construction in various countries of Asia-Pacific is driving the demand for construction chemicals market. However, shortage of skilled labor across the industry is set to stunt the growth of the market during the forecast period.
Increasing Construction Activities in Asia-PacificRapid increase in population in regions of China and India is expected to give a rise in construction activity. The key areas of expected growth are social infrastructure, schools, hospitals, government accommodation, water, defense infrastructure, and water resources.In Asia, infrastructure accounted for 37%, residential for 34% and non-residential for 29% share of the construction spending. Singapore has mandated elements of prefabricated, pre-finished, and volumetric construction (PPVC) for all projects on government land.The government backs this with subsidies for companies that participate with the aim of increasing and standardizing modern methods of construction (MMC) in the country. All such factors are increasing the demand for construction chemicals in the Asia-pacific region.
Concrete Admixture - A Huge Market PotentialConcrete admixtures reduce concrete construction cost by modifying the properties of hardened concrete, thereby ensuring better quality during mixing, transporting, placing, and curing. This allows users to overcome emergencies during concrete operations.Asia-Pacific has the largest market for concrete admixture, owing to the massive growth in construction in India, China, and various Southeast Asian countries.Various incentives by the governments of the respective countries to promote the infrastructure sector, coupled with the booming residential sector (owing to the burgeoning middle-class population), have largely facilitated the growth of the construction sector in Asia-Pacific over recent years. Sika AG opened a new concrete admixture production plant in 2017 in Addis Ababa, Ethiopia, and a motor factory near Athens, Greece.Market Dynamics Drivers Increasing Construction Activities in Asia-PacificOther Drivers Restraints Sluggish Economic Growth in the European Construction SectorLack of Skilled Labor Opportunities Removal of Trade Barriers among ASEAN CountriesIncreasing Investments in Canada’s Residential SectorIncreasing Investments in Mexico’s Construction Sector
Key Topics Covered1. Introduction
2. Executive Summary
3. Construction Chemicals Market Insights
4. Construction Chemicals Market Dynamics
5. Market Segmentation and Analysis
6. Regional Market Analysis
7. Construction Chemicals Market Future
8. Competitive Landscape9. Company Profiles3M CompanyAdcoAlbemarle CorporationArkema SAAshland Inc.BASF SEBolton GroupCemetaid (N.S.W.) Pty. Ltd.CHRYSOCICO Technologies Ltd.CONMIX Ltd.DowDuPontFosrocFranklin InternationalHenkel AG & Company, KGaALafargeMapei, Inc.MUHU Construction Materials Co. Ltd.Pidilite IndustriesRPM International Inc.Selena FM S.A.Sika AGStructural WaterproofingW.R. Grace & Co.Thermax Global
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Related Topics:Construction Adhesives
INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS CONSTRUCTION & PROPERTY OTHER CONSTRUCTION & PROPERTY
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 11/20/2018 08:47 AM/DISC: 11/20/2018 08:48 AM