Tag: APAC Construction Chemicals Market Demand

By 2022, the construction industry of India would value $738.5 billion, and by 2025, it will be the third-largest across the world, as per Invest India, the country’s national body for investments. This is driven by the growth in population, high urbanization rate, and increase in the disposable income. All these factors lead to the rising demand for residential units, hospitals, schools, office complexes, manufacturing plants, and other types of civic infrastructure. This is the reason behind the increasing consumption of construction materials, including the variety of chemicals which are used for the purpose.

With almost all other countries in Asia-Pacific (APAC), especially Indonesia and China, witnessing such construction sector prosperity, the APAC construction chemicals market is predicted to grow, from $19,754.8 million in 2017 to $29,686.2 million by 2023, at a 7.1% CAGR during the forecast period (2018–2023). Adhesives, concrete admixtures, protective coatings, sealants, asphalt modifiers, and several other chemicals are used during building and infrastructure construction. Among these, concrete admixtures account for the heaviest consumption, majorly because of the rising focus on the quality of the structures being built.

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Such materials are added to the concrete or cement mixture to modify its rate of bleeding, workability, pumpability, and other properties. Across the region, roads, buildings, bridges, tunnels, and water retention structures are being rapidly built, thereby leading to the increasing consumption of cement and concrete. With the growing focus on quality construction, in the wake of defects in the finished structure, the usage of admixtures is escalating. Defects can prove deadly, if the structure collapses, resulting in human deaths, and these also raise the need for rebuilding, which consumes time, money, and other resources.

Thus, to minimize such damages, the quality of the construction materials is being improved, via the addition of chemicals such as concrete admixtures. Apart from making the structure durable, they also reduce construction costs and enhance the project speed, which is why real estate and infrastructure firms are increasing the usage of admixtures. Another advantage of these materials is that they significantly reduce the requirement for water, which is essential in today’s times of severe water scarcity, particularly in developing countries, many of which are in APAC.

This is why the demand for construction chemicals, including concrete admixtures, is expected to rise swiftly in the regional emerging economies, during the forecast period. Within APAC, the largest consumption of construction chemicals is witnessed in China, which is one of the largest economies in the world, therefore home to a huge construction sector. Further, many globally operating companies manufacture chemicals for the buildings and infrastructure sector in this country, as the labor and raw material are quite cheap here.

In the coming years, the APAC construction chemicals market would display the fastest progress in India, where the building and infrastructure sector is witnessing robust growth. For instance, the Airports Authority of India (AAI) is planning to construct new air transit hubs and renovate and expanding the existing ones, which would result in a heavy requirement for construction material, including various chemicals. Additionally, with the improvement of the country’s education system, the number of schools and colleges is also increasing, thereby driving the market.

Therefore, as the region witnesses robust construction activities, the demand for construction chemicals would also increase.