Concrete Admixtures Market Poised to Garner Maximum Revenues by 2023
Transparency Market Research states that the competition in the Asia Pacific, Latin America & Middle East Lignosulfonate-based concrete admixtures market is highly fragmented. Presence of several national as well as international players is expected to intensify the competition in the coming years. Vendors operating in the Asia Pacific, Latin America & Middle East Lignosulfonate-based concrete admixtures market are expected to focus on product innovation and better market positioning in the coming years. The emphasis on making technological advancements will also be seen as an important factor in the overall market in the coming years. Some of the leading players in the Asia Pacific, Latin America & Middle East lignosulfonate-based concrete admixtures market are BASF SE, Sika AG, W.R. Grace Co-Conn., CEMEX S.A.B. de C.V., Fosroc International, CHRYSO Group, and CICO Technologies Ltd.
According to the research report, the Asia Pacific, Latin America & Middle East lignosulfonate-based concrete admixtures market is expected to reach a valuation of US$143.1 mn by the end of 2023. During the forecast period of 2015 and 2023, the overall market is projected to showcase a steady CAGR of 4.20%. Regionally, Asia Pacific is expected to dominate the lignosulfonate-based concrete admixtures market due to strengthening construction sector. Out of the two products available in the Asia Pacific, Latin America & Middle East lignosulfonate-based concrete admixtures market, the plasticizers segment is expected to hold a lion’s share in the overall market.
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Widening Application of Lignosulfonate-based Concrete Admixtures Creates Scope for Growth
The demand for lignosulfonate-based concrete admixtures has been consistently rising over the past few years in the Asia Pacific, Latin America, and the Middle East market. This emerging trend can be attributed to rapid growth of construction industry in these regions. Accelerating pace of urbanization and industrialization are both expected to be key contributors to the overall market in the coming years. The widening applications of lignosulfonate-based concrete admixtures are also making a significant contribution to the soaring profits of the overall market. Today, lignosulfonate-based concrete admixtures are used in animal feed for making pellets, construction as plasticizers and superplasticizers, gypsum board, in the oil & gas industry for oil well drilling muds, and in agrochemical as pesticide dispersants.
The most important function of lignosulfonate-based concrete admixtures is to be the crucial water reducing chemicals. This property is the primary reason for its soaring uptake in the construction industry, as it drastically brings down the consumption of water along with maintaining the actual strength of concrete. The increasing number of infrastructure projects in developing countries and emerging economies are expected to propel the growth of Asia Pacific, Latin America & Middle East lignosulfonate-based concrete admixtures market in the coming years.
Availability of Cheaper Alternatives to Hamper Market Growth
Despite the strong market drivers, the Asia Pacific, Latin America & Middle East lignosulfonate-based concrete admixtures market is likely to face some tough challenges. Availability of cheaper alternatives are expected to eat into the share of this market in the near future. Price-sensitive countries are expected opt for even more affordable options, predicts research report. The slow pace of infrastructural development in developing economies is also projected to result in slow growth of the Asia Pacific, Latin America & Middle East lignosulfonate-based concrete admixtures market.
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