Report : Asia Pacific Metakaolin Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (Ceramics, Mortars and Concrete Admixtures, Refractories, and Others)
The Mortars and Concrete Admixtures Segment to Dominate the Asia Pacific Metakaolin Market during 2021-2028
According to a new market research study on “Asia Pacific Metakaolin Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Application and Country,” is expected to reach US$ 383.22 million by 2028 from US$ 275.29 million in 2021. The market is estimated to grow at a CAGR of 4.8% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific metakaolin market along with the drivers and restraints pertaining to the market growth Widescale application in the construction industry and shifting focus towards sustainable building materials are major factors driving the growth of the Asia Pacific metakaolin market. However, cracking potential along with huge cost associated with use of metakaolin may hinder the growth of Asia Pacific metakaolin market.
Businesses in Asia Pacific are gaining ground as previously imposed limitations are being eased across various locations. The introduction of COVID-19 vaccines by governments of different countries has further eased the situation, leading to a rise in business activities across the region. Moreover, governments of different countries are planning to develop modern and technologically advanced infrastructure to mitigate the economic impacts of the COVID-19 pandemic. For instance, the Chinese government has recently introduced the New Infrastructure campaign to mitigate the economic impact of the COVID-19 outbreak while also promoting long-term sustainable growth. 5G networks, industrial internet, inter-city transportation and inner-city rail systems, data centers, artificial intelligence (AI), ultra-high voltage, and electric vehicle charging stations will be the emphasis of New Infrastructure initiatives. Such initiatives are significantly contributing to the growth of the construction industry, thereby boosting the demand for metakaolin. Thus, the market is expected to grow significantly in the coming years amid the impacts of the COVID-19 pandemic.
The market for Asia Pacific metakaolin is segmented into application and country. Based on application, the market is segmented into ceramics, mortars and concrete admixtures, refractories, and others. In 2020, the mortars and concrete admixtures segment held the largest share in Asia Pacific metakaolin market. Based on country, the Asia Pacific metakaolin market is categorized into Australia, China, India, Japan, South Korea and rest of Asia Pacific. India is expected to be the fastest growing country over the forecast period. Furthermore, in this present scenario of COVID 19 pandemic, the Asia Pacific metakaolin market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Asia Pacific countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for metakaolin.
Nanoshel LLC; BASF SE; Burgess Pigment Company; Imerys S.A.; and W. R. Grace & Co. are some of the leading companies in the Asia Pacific metakaolin market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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