Booming Construction Industry Propels Lignosulfonate-based Concrete Admixtures Market in Asia Pacific, Latin America, and the Middle East
Booming Construction Industry Propels asia pacific, latin america, and the middle east lignosulfonate-based concrete admixtures market in Lignosulfonates are easily soluble in water and are, as a result, used in a number of applications such as gypsum board, in the agrochemical sector as pesticide dispersants, in the construction industry as superplasticizers and plasticizers, in the animal feed segment as pellets, and in the oil and gas sector as oil-well drilling muds.
Need for Water-Reducing Chemicals Boosts Demand
The demand for lignosulfonate-based concrete admixtures has witnessed a steady rise in recent past thanks to the growth in the global infrastructure sector. Water-reducing chemicals are in great demand, especially in the concrete and construction industries. They help in minimizing the actual demand for water in concrete mixtures while maintaining the overall workability of the concrete. Surging need for water-reducing chemicals, in turn, boosts the market for lignosulfonate-based concrete admixtures.
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In the developing markets of Asia Pacific, the Middle East, and Latin America, demand for economical and environment-friendly chemical admixtures from the burgeoning construction sector has steadied the development of the lignosulfonate-based concrete admixtures market. The need to improve the quality of construction in emerging economies, backed by growing demand for roads, buildings, tunnels, bridges, and water-retention structures has also propelled the lignosulfonate-based concrete admixtures market.
Rising infrastructure development projects in the Middle East is projected to open up significant opportunities for growth over the next eight years. However, increasing number of substitutes for concrete admixtures threatens to restrain the lignosulfonate-based concrete admixtures market.
Asia Pacific Identified as Largest and Fastest Developing Market by 2023
Among the key regional markets for lignosulfonate-based concrete admixtures – Latin America, Asia Pacific, and the Middle East, Asia Pacific emerged as the leader with the largest share of the overall market in 2014. One of the primary factors boosting the lignosulfonate-based concrete admixtures market in APAC is rapid growth in the infrastructure sector in India, China, and other ASEAN countries. A thriving construction industry in Asia Pacific translates into rising demand for plasticizers and superplasticizers, which in turn, results in increased demand for lignosulfonate-based concrete admixtures. Apart from being the largest market, Asia Pacific is also projected to develop at the highest CAGR by 2023, according to a report by Transparency Market Research.
Moderate Growth Anticipated in Lignosulfonate-based Concrete Admixtures Market
On the whole, the lignosulfonate-based concrete admixtures in the Middle East, Latin America, and Asia Pacific is anticipated to rise from a value of US$98.9 Mn in 2014 to US$143.1 Mn by 2023, registering a 4.20% CAGR from 2015 to 2023. The Latin America lignosulfonate-based concrete admixtures market is anticipated to record a modest growth rate over the next eight years, driven primarily by the development in the construction industry. The Middle East market for lignosulfonate-based concrete admixtures, on the other hand, is expected to emerge as a strong contender thanks to rising investments in the infrastructure sector in countries such as Kuwait, Saudi Arabia, the UAE, and Qatar.
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Some of the major players competing in the lignosulfonate-based concrete admixtures market in Latin America, Asia Pacific, and the Middle East are CEMEX S.A.B. de C.V., Fosroc International, Sodamco-Weber, W.R. Grace Co.-Conn, BASF SE, Pidilite Industries Limited, Sika AG, CICO Technologies Limited, CHRYSO Group, and Mapei International.
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