The construction chemicals market is estimated to witness a healthy growth, at an estimated CAGR of over 6%, through the forecast period. Growing construction activities in the Asia-Pacific region, increased adoption of new technology, and innovative construction procedures are some of the factors driving the growth of the market studied.
New York, Nov. 03, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Construction Chemicals Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05790941/?utm_source=GNW
- Increasing environmental regulations regarding VOC emissions remains a constraint for the growth of the market studied.
- The concrete admixture segment dominated the market, by product type. Moreover, it is expected to witness the highest CAGR during the forecast period.
- The residential segment dominated the market, by end-user industry. However, the industrial segment is expected to witness the highest CAGR during the forecast period.
Key Market Trends
Increasing Demand for Concrete Admixtures
- Concrete admixtures are ingredients that are added to the concrete mixture before or during mixing. Concrete 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.
- According to the European Standard EN 206-1, the permitted dosage of admixtures to concrete should be less than or equal to 5%, by weight of the cement. However, in conditions of low dosage, the admixture quantities should be less than 0.2% of the cement.
- The admixture is generally added in a relatively small quantity, ranging from 0.005% to 2%, by weight of cement. However, overuse of admixtures has detrimental effects on the quality and properties of concrete.
- Based on function, admixtures are categorized into several types, which include air-entraining, retarding, accelerating, plasticizing, and water reducing, among others. The special category admixtures have various functions, including shrinkage reduction, corrosion inhibition, workability enhancement, alkali-silica reactivity reduction, bonding, coloring, and damp proofing.
- Demand for concrete admixture is increasing at a rapid rate. Manufacturers are responding to this demand, and have started taking action. For example, BASF launched Master X-Seed STE admixture for the concrete industry, in March 2019. The product was introduced specifically for the Asia-Pacific region, as it enhances concrete strength’s development and performance characteristics.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific construction sector is the largest in the world, and is growing at a healthy rate, owing to the rising population, increase in middle-class incomes, and urbanization.
- Increasing infrastructure construction activities and the entry of major players from the European Union into the lucrative market of China have further fueled the industry’s expansion.
- China’s 13th Five Year Plan started in 2016, as it was an important year for the country’s engineering, procurement, and construction (EPC) industry. In addition, the country ventured into new business models domestically and internationally, during the year. Although the construction sector slowed down after 2013, it is still a major contributor to the GDP of the country. The China’s construction industry developed rapidly in the recent past, due to the central government’s push for infrastructure investment, as a mean to sustain economic growth.
- Furthermore, restrictions on foreign investment on land development, high-end hotels, office buildings, international exhibition centers, and construction and operation of large theme parks have also been lifted. The growth in the infrastructure and transportation sectors is expected to boost the construction chemicals market in the country, over the forecast period.
The construction chemicals market is highly fragmented, with top-five players accounting for around 32% share of the market. Major players in the market include Sika AG, BASF SE, MAPEI, RPM International, and Lafarge, among others.
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