Albany, NY -- (SBWIRE) -- 10/23/2018 -- The markets for lignosulfonate-based concrete admixtures in Asia Pacific, Latin America, and the Middle East are witnessing strong growth in their size and valuation. Driven significantly by the constant rise in the construction industry, as lignosulfonate-based concrete admixtures are necessary components of a construction, these regional markets are expected to continue their growth streak in the years to come.
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Although the easy availability of efficient alternatives at much cheaper price range may create obstacles in the growth trajectory of these markets, the significant surge in the investment in the infrastructure sector across the Middle East is anticipated to offer lucrative opportunities for the further growth of this market over the next few years, normalizing the effect of this restraint.
The markets for lignosulfonate-based concrete admixtures in Latin America, Asia Pacific, and the Middle East jointly stood at US$98.9 mn in 2014. Researchers predict these markets to report a CAGR of 4.20% between 2015 and 2023 and attain a collective value of US$143.1 mn by the end of 2023.
Asia Pacific to Retain Leading Position
In 2014, Asia pacific led the overall market for lignosulfonate-based concrete admixtures due to the high demand for plasticizers and superplasticizers from the construction sector in this region. Over the coming years, Asia Pacific is anticipated to report a higher growth rate than other regional markets over the next few years. The increasing trend of urbanization and industrialization in various Asian countries, such as China and India, and the ASEAN nations is likely to boost the demand for lignosulfonate-based concrete admixtures in this region in the near future.
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The Middle East market for lignosulfonate-based concrete admixtures is also projected to expand significantly over the forthcoming years, thanks to the surging demand for these admixtures in Saudi Arabia, Qatar, Kuwait, and the UAE, stimulated by the rise in investments in the building and construction industry for the improvement in infrastructure in these countries. On the other hand, the Latin America market for lignosulfonate-based concrete admixtures will be driven by the upswing in industrialization in the years to come.
Demand for Plasticizers to Remain Strong
Among plasticizers and superplasticizers, the former reported a greater demand in 2014 with a share of more than 65%. Although superplasticizers will report a higher CAGR, the demand for plasticizers will remain strong in the years to come, thanks to the significant rise in the construction industry. The high water reducing capability of superplasticizers is expected to boost their demand in the near future, ensuring a high growth rate.