Will APAC emerge out to be a pivotal region for concrete surface treatment chemicals market during 2020-2025?
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Proliferating demands for construction chemicals by the various industries have catalyzed the industry dynamics over the forecast period. These chemicals enhance the performance of the structures, are highly economical, and ease the installation procedures, meanwhile impelling the market growth over the coming years.
Introduction to public and private investments for infrastructural developments in tandem with favourable government regulations would foster the market share.
Geographically, Asia Pacific is claimed to evolve as a highly feasible growth ground for concrete surface treatment chemicals market. Encompassed mostly with growing economies, the region plays a host to majority of the global populace.
Ongoing construction activities across the globe have paved the way for various regions to be profitable grounds for concrete surface treatment chemicals market. Not to mention, APAC, driven by India, China, and Japan, held over 50 per cent of the market share and is probable to register considerable growth in the near future.
Robust presence of various concrete surface treatment chemicals giants and expanding production capacities have added impetus to the growth graph of the region. In addition to this, various government regulations and initiatives have also been responsible for the expanding growth trajectory of the regional market. In fact, Civil Aviation Administration of China has devised to build more than 200 airports by 2035 with intent to suffice the surge in air travel demands.
Europe, on the other hand, is doing exceptionally well and is expected to produce hefty proceeds in the ensuing years. This regional growth is aptly credited to the increasing urbanization, rapid immigration, improved standard of living and upcoming industrial activities.
The construction industry across the region hires over more than 18 million people while adding to 9 per cent of the European GDP. This development is expected to positively influence the concrete surface treatment chemicals market by the end of 2025.
The application gamut of concrete surface treatment chemicals is rather diverse and is expected to augment the industry traction in the coming years. This is attributed to the pre dominance of the industrial sector which is expected to hold nearly 25 per cent of the entire market share in terms of revenue.
The rising product penetration from industrial sector combined with emerging industrial trends would complement the business growth over the projected time frame.
Meanwhile, municipal segment of the concrete surface treatment chemicals market is estimated to garner positive growth owing to the progressive developments in the transforming construction markets. It is imperative to note that the municipal sector is anticipated to exhibit a CAGR of 6 per cent through 2025.
Based on the product spectrum, curing compounds segment has have emerged out to be a major revenue pocket for the concrete surface treatment chemicals market. This is mainly due to the product's ability to provide optimal curing whilst the protection from solar heat is demanded.
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The product finds expansive use on horizontal surfaces like the streets, highways, airports, and many more.
As per estimates, curing compounds are predicted to grow potentially at a growth rate of 6.5 per cent through the foreseeable period.
The strong penetration of umpteen companies in the concrete surface treatment chemicals market have enabled the industry size to record an overall valuation of USD 15 billion by 2025, as stated by the research report of Global Market Insights, Inc.
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