At 6.1% CAGR, Asia Pacific Construction Additives Market is Projected to be Worth US$ 60,086.08 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific construction additives market was valued at US$ 37,307.50 million in 2022 and is expected to reach US$ 60,086.08 million by 2030, registering a CAGR of 6.1% from 2022 to 2030. Growing residential and commercial construction and increasing government investments for infrastructure development are among the critical factors attributed to drive the Asia Pacific construction additives market growth.

In February 2023, China launched an inbound investment program called the Qualified Foreign Limited Partnership (QFLP), which involved at least US$ 4.37 million of fundraising in its first round. The scheme is aimed at investing in residential and commercial housing projects. During the 14th Five-Year Plan (2021-2025) period, China plans to allocate 6.5 million government-subsidized rental homes in 40 key cities to assist an estimated 13 million people in need of affordable housing. Nearly 219,000 old residential communities constructed in urban areas before the end of 2000 will most likely be renovated by 2025 to provide more housing. In 2023, DEEM Enterprises LLC announced its plans to spend US$ 2.7 billion to build a Formula 1-style racetrack, housing, and shopping complex on the site of a former airport in New Jersey, the US. The growing residential and commercial construction are fueling the demand for different construction chemicals & materials, thereby driving the construction additives market growth.

On the flip side, fluctuations in raw material prices hampers the growth of Asia Pacific construction additives market.

Based on type, the Asia Pacific construction additives market is segmented into cement additives, concrete admixtures, precast concrete, ready-mix concrete, paints and coatings additives, adhesives and sealants additives, plastic additives, bitumen additives, and others. The cement additives segment held 29.5% market share in 2022, amassing US$ 11,000.03 million. It is projected to garner US$ 18,045.11 million by 2030 to register 6.4% CAGR during 2022-2030.

In terms of application, the Asia Pacific construction additives market is categorized into residential, commercial, infrastructure, and others. The residential segment held 36.9% share of Asia Pacific construction additives market in 2022, amassing US$ 13,766.96 million. It is anticipated to garner US$ 22,399.68 million by 2030 to expand at 6.3% CAGR during 2022-2030.

Based on country, the Asia Pacific construction additives market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 61.2% share of Asia Pacific construction additives market in 2022. It was assessed at US$ 22,844.53 million in 2022 and is likely to hit US$ 37,818.10 million by 2030, registering a CAGR of 6.5% during 2022-2030.

Key players operating in the Asia Pacific construction additives market are W. R. Grace & Co, Chryso SAS, Dow Inc, BASF SE, Heidelberg Materials AG, Cemex SAB de CV, Fosroc International Ltd, CICO Technologies Ltd, Sika AG, Evonik Industries AG, RPM International Inc, Mapei SpA, and Holcim Ltd, among others.

• In June 2023, For the building segment, Fosroc launched the FOSguard brand. Under its brand, the company offers various products, including Conplast WL Xtra, Renderoc Wallputty, Renderoc Ready Mix Plaster, Conbextra Block Jointing Mortar, Tile Adhesives, and Nitoproof Wall Dampguard.

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