Having procured almost 40% of the overall industry share in 2016, APAC undoubtedly is one of the lucrative avenues via which Concrete Admixture Market players have gained tremendous monetary returns. The dominance of the regional business space can be majorly attributed to growing governmental investments in major construction projects across commercial as well as residential domains.
Concrete admixture market is likely to experience a plethora of possibilities on a global scale, given the dire need of water conservation across the globe. In terms of profitability potential, the global concrete admixture industry share is forecast to surpass USD 38 billion by 2024.
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One of the most remunerative and opportunistic business spheres of today’s urbanized ecosphere, concrete admixture market is aptly defined by the changing trends of the construction industry. Admixtures have been an integral component of construction activities since ages, on grounds of its credibility to enhance durability and strength characteristics of the concrete mixtures. It is therefore no surprise that the growth of concrete admixture industry is synonymous to the robust development in the construction domain. Bearing an evidence to this correlation- in the year 2015, the overall construction spending was nearly around USD 7 trillion, while research forecasts the spending to exceed a valuation of USD 13 trillion by 2023.
Concrete admixture market share is exceedingly consolidated, with prominent players accounting for over half of the total business size in 2016. The major players include:
- RPM International
- CICO Group
- Euclid Chemical
The players are expanding their volume to fulfill the growing product demand in the world. For example, in November 2017, Sika launched a new concrete admixture manufacturing plant in Ethopia to fulfill the growing admixture demand regionally.
Below mentioned are some of the extensive construction projects, which would validate why APAC stands as the most potential contender in concrete admixture market share battle:
- Delhi Mumbai Industrial Corridor: This is the planned industrial development project between two of the largest metro cities of India. Claimed to be one of the largest projects having a valuation of USD 90 billion, it is reported to encompass 24 industrial zones. Reportedly, the project has received a major boost from India and Japan, and in all plausibility would complete by 2019 end.
- Beijing Daxing International Airport: Once onboard by 2019, it is claimed to be world’s largest airport. With eight runways under its umbrella, the airport reportedly would serve nearly 80 million passengers annually. Not to mention, such a massive construction project undoubtedly speaks volume and has much to contribute in the regional concrete admixture industry share.
The demographic structure of Gulf countries has had an immense impact on construction sector, which by extension has soared up the regional concrete admixture market demand. The GCC belt has been one of those few regions that observed tremendous economic turnaround of sorts post the financial crisis in 2008, recording a GDP growth of approximately 24% over 2008-2013.
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The revenue graph of concrete admixture market has been deemed to be rather exponential, the marketplace is also characterized by several constraints. One of the most pivotal factors that has been proving detrimental for the business expansion is limited product compatibility across unorganized construction domain.
As per an estimation put forth by Centre for Economics and Business Research, in that half a decade timeframe the population in the region had risen by almost 20%. The proportion is almost six times than that of the population growth rate in U.S., and UK. In response to the thriving population growth, there has been an extensive proliferation in the construction activities across this belt over these years, leaving the growth prospect high for concrete admixture market.
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