Asia-Pacific Construction Chemicals Market Size and Future Scope

Asia-Pacific Construction Chemicals Market Size, Share, Growth and Business Opportunities

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Under the National Infrastructure Pipeline launched in 2019, India has earmarked a total investment of $1.4 trillion (INR 102 lakh crore) on infrastructure development. Moreover, by 2025, the construction sector of India will be the third-largest in the world, behind that of the U.S. and China.

Naturally, the two most-populated countries in the world account for the largest construction sectors in the world. Moreover, the government of these nations is extending its support for the real estate and infra sector.

Due to the rampant growth of this industry, P&S Intelligence predicts the AsiaPacific construction chemicals market revenue to rise from $19,754.8 million in 2017 to $29,686.2 million by 2023. This will essentially be due to the burgeoning population of the region, which is already the highest on earth. More people means a requirement for more houses, roads & highways, transportation facilities, schools, office complexes, hospitals, retail spaces, hotels, factories, and all other kinds of infrastructure imaginable.

Moreover, every year, an increasing number of people from rural areas are migrating to urban areas. According to the United Nations (UN)’s World Urbanization Prospects 2018 report, by 2050, China and India’s urban population will grow by 255 million and 416 million, respectively. As people move to the cities, they get jobs, and their financial health betters. As a result, they create a high demand for housing and other elements of infrastructure, which is why construction activities are burgeoning here. Now, the highest concentration of skyscrapers is not in the U.S., but China, in cities such as Shanghai, Hong Kong, Beijing, and Guangzhou.

Browse detailed report on Asia-Pacific Construction Chemicals Market Size and Future Analysis In this regard, the government efforts to boost infra development in the region are propelling the demand for construction chemicals. For instance, the Indian government is developing 100 smart cities, eight ports and 14 special economic zones (SEZs), and 28 highway corridors and a total of 24,800 km of highways under the Bharatmala Project phase I. Moreover, the Eastern and Western Dedicated Fright Corridors and the Delhi–Mumbai Expressway, part of the larger Delhi–Mumbai Industrial Corridor, are being constructed.

As a result, the demand for concrete admixtures, sealants, adhesives, protective coatings, flooring chemicals, asphalt modifiers, and flame retardants is rising.

Among these construction chemicals, concrete admixtures account for the highest consumption as they give strength to the structure and reduce the requirement for water. In a region that witnesses a lot of volcanic and tectonic activity, strong buildings are a must. For instance, North India and Japan are at an extremely high risk of severe earthquakes. Thus, with concrete being the key construction material, the demand for admixtures is surging in the region.

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Presently, the highest demand for all such construction chemicals, not just in APAC, but the entire world, is generated in China, which is home to the largest construction sector globally. In 2019, 26 construction projects, with a total investment of $142 billion, were sanctioned in the country, as per the South China Morning Post. The largest and most-expensive construction project underway in China right now is the South–North Water Transfer Project, under which three systems of canals are being built to divert 44.8 billion cubic meters of water from the Yangtse River in southern China to the north of the country each year.

In the coming years though, India’s contribution to the APAC construction chemicals market will grow at the highest pace. As per the India Brand Equity Foundation (IBEF), between April 2000 and December 2020, the country’s construction sector received a total foreign direct investment (FDI) of almost $50 billion. Moreover, in the 2021 Union Budget, the government allocated $32.02 billion (INR 233,083 crore) for transportation infrastructure alone! Under this, over 600 railway stations have been identified for redevelopment, the entire broad-gauge network of Indian Railways is being electrified, and all routes are being double-tracked.

Get the sample pages of this report: https://www.psmarketresearch.com/market-analysis/apacconstruction-chemicals-market/report-sample Thus, with governments pushing for infrastructure development in APAC, the demand for construction chemicals will boom in the coming years.

APAC CONSTRUCTION CHEMICALS MARKET •

By Type – Concrete Admixtures, Adhesives, Sealants, Protective Coatings, Asphalt Modifiers, and Others (Flooring Chemicals and Flame Retardants)

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By Country – China, Japan, India, South Korea, and Rest of APAC

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