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Asia-Pacific Construction Chemicals Market Set for Robust Growth, Poised to Reach USD 37.81 Billion by 2028
Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Asia-Pacific Construction Chemicals Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific region is witnessing a ground-breaking surge in its construction chemicals market, as the latest analysis reveals an optimistic trajectory for the industry. Expected to leap from a substantial USD 27.56 billion in 2023, the market size is forecasted to ascend to an impressive USD 37.81 billion by 2028. Observing a Compound Annual Growth Rate (CAGR) of 6.53% during the period from 2023 to 2028, the sector demonstrates a resilient comeback post-pandemic slump.
Drivers and Constraints Impacting Market Dynamics
Several factors are fuelling the market's acceleration; chief among them is the increasing momentum in construction activities across the Asia-Pacific region coupled with substantial investments in infrastructure. Conversely, stringent environmental regulations concerning the emissions of volatile organic compounds (VOCs) are challenging market expansion.
Growth Opportunities Abound
New construction ventures across major countries and a rise in foreign direct investments, specifically in India and Southeast Asian countries, have emerged as lucrative opportunities catalyzing market growth. Notably, the residential sector remains a dominant force, yet it is the industrial segment that is anticipated to record the highest CAGR in the forecast period.
Concrete Admixtures and Cement Grinding Aids Lead Demand
Innovations in concrete admixtures and cement grinding aids are experiencing a surge in demand. These additives enhance concrete quality and manageability, also allowing significant modification in setting times and achieving specific results. As the Asia-Pacific region continues its exponential growth in construction, particularly in China and India, the demand for concrete admixture is on a significant rise. Real estate developments and various government incentives to fortify the infrastructure sector are principally driving this demand.
China's Market Leadership
China dominates the Asia-Pacific construction chemicals market share. With an ever-growing construction sector, the demand for construction chemicals is anticipated to escalate throughout the forecast period. Infrastructure and residential development are pivotal sectors propelling this growth, supported by a pro-investment environment and policy liberalization for foreign entities.
A Fragmented Competitive Landscape
The competitive landscape of the Asia-Pacific construction chemicals market is notably fragmented, with the leading eight companies comprising a mere 15% of the total market share. Key industry participants include giants like Sika AG, BASF SE, 3M, Arkema Group, and Dow, showcasing a robust competitive environment poised for innovation and growth.
The in-depth and comprehensive analysis of the Asia-Pacific Construction Chemicals Market sheds light on various facets of the industry. It delivers valuable insights, comprehensive data, and a strong understanding of market dynamics, providing stakeholders with the essential tools to make informed decisions.
A selection of companies mentioned in this report includes
3M
Arkema Group
Ashland
BASF SE
Bolton Group
Cementaid (N.S.W.) Pty Ltd
Chryso
CICO Group
Dow
Fosroc, Inc.
Franklin International
Henkel AG & Co. KGaA
Holcim
MAPEI S.p.A.
MUHU Construction Materials Co. Ltd
Nouryon
Pidilite Industries Limited
RPM International Inc.
Sika AG
Thermax Global
For more information about this report visit https://www.researchandmarkets.com/r/ns88mx
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