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Construction chemicals market to showcase significant growth till 2024, Robust demand for concrete admixtures

Author : Ravi Chawat | Published Date : 2020-10-23 

Construction chemicals market is projected to showcase significant growth up to 2024. Chemical admixtures are among the most important and most commonly used chemicals used with modern construction materials. These admixtures, when used in combination with mineral additives such as silica fume, enable considerable improvements in the properties and quality of concrete in terms of increased compressive strength and durability. Accelerating agents, air-entraining agents, retarding agents, waterproofing admixtures, plasticizers, and superplasticizers are the different types of concrete admixtures.

These admixtures are added to the concrete mix immediately before or during mixing along with other ingredients like Portland cement, water, and aggregate. Building & construction companies use concrete admixtures primarily to minimize the cost of concrete construction, to enhance the quality of hardened concrete, handle certain emergencies during concrete operations, and to ensure optimum quality of concrete during, mixing, curing, placing, and transportation.

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In developed countries of Europe and North America, the construction chemicals market from construction sector has witnessed a slow growth rate over the past few years. This, in addition to lack of awareness in developing regions, is anticipated to be a major factor restricting the demand for construction chemicals to some extent.

On the other hand, many emerging economies have experienced an exponential rise in infrastructure development in recent years. Governments in these regions are introducing favorable initiatives and policies for the development of green buildings and minimize the environmental impact. With constant technological innovations, construction chemicals will continue to play a crucial part in robust infrastructure development in the near future. 

The infrastructure sector is witnessing unprecedented growth across BRICS nations, positively influencing global construction chemicals market forecast. Rise in disposable income among people across APAC nations along with increased FDI will steer the product demand in the region. The governments in countries like China, India, Japan, and Singapore are heavily investing in the construction of modern, efficient and eco-friendly buildings which help in reducing the level of carbon dioxide.

In 2015, construction sector in China was estimated at USD 1.7 trillion and is expected to showcase robust growth patterns over forecasted timeframe. The need for weather and earthquake resistant buildings in APAC along with initiatives undertaken by the governments to provide affordable homes will provide construction chemicals market players with novel opportunities to explore untapped markets. Asia Pacific construction chemicals market accumulated revenue of more than USD 14 billion in the year 2015 and will register notable CAGR of over 9% in the coming years.

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About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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