Soaring Demand for Asia and MEA construction chemicals market
Posted by Jason Lee on September 20th, 2019
The Asia and MEA construction chemicals market was valued at ,907.9 million in 2017 and it is expected to reach ,740.7 million by 2025, growing at CAGR of 7.12% from 2018 to 2025.
Construction chemicals are chemical formulations, which are majorly used with cement, concrete, or other materials to adhere them during construction activities. Construction chemicals are known to enhance the strength and quality of concrete and offer water resistance & enhanced rigidity. In addition, they protect the concrete structure from atmospheric degradation. Various chemical products, such as concrete admixtures, are used with concrete to minimize the quantities of cement and water. Concrete admixtures are known for modifying properties of hardened concrete to ensure the quality during mixing, curing, and placing.
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Construction chemicals are utilized in the construction industry for several applications such as residential, construction, infrastructure repair, commercial & industrial construction, and others. Therefore, significant development in the construction industry boosts the growth of the market. The developments in the construction industry in Asia is driven by increase in urbanization and infrastructural development, which in turn fuels the demand for construction chemicals. Emergence of megacities in both Asia and Middle East & Africa regions further offer scope for usage of construction chemicals. Furthermore, increase in residential housing projects and rise in investment on infrastructure development are considered as key driving factors for this market.
However, change in regulatory environment toward the use of prime construction chemicals and low consumer awareness about high-value products are expected to limit the market development, owing to the price sensitive nature of this market. Moreover, as the price of construction chemicals is relatively higher as compared to their traditional counterparts, their usage is limited in developing countries. On the contrary, increase in awareness pertinent to energy conservation buildings and sustainable infrastructure is anticipated to offer lucrative growth opportunities for market expansion.
The Asia and MEA construction chemicals market is segmented based on type, application, and region. The report focuses on type of construction chemicals such as concrete admixture, waterproofing & roofing, repair, flooring, adhesives & sealants, and others. Market segmentation based on application includes residential, industrial, infrastructure, repair structure, and others.
Region wise, the market is analyzed across Asia and Middle East & Africa. Asia is further segmented into various countries, including China, India, Japan, Indonesia, Thailand, South Korea, Australia, and rest of Asia. On the other hand, MEA is segmented into Saudi Arabia, UAE, Kuwait, Bahrain, Oman, Qatar, Egypt, Africa, and rest of Middle East & Africa. Asia alone has dominated the market in 2017, garnering more than 85% share. This is attributed to heavy investment in infrastructure development in countries such as China and India, increase in urbanization across developing countries, and upsurge in demand for housing projects. In addition, development of the construction industry in the Middle East and growing urban population in the African countries is primarily promoting the growth of the construction chemicals market.
Key players analyzed and profiled in the Asia and MEA construction chemicals market are 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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About the AuthorJason Lee
Joined: September 20th, 2019
Articles Posted: 305
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