Latest News- Construction Chemicals Market in Southeast Asia: Non-residential is expected to lead the Application segment during 2024-2028
The Construction Chemicals Market in Southeast Asia is being driven by Increasing demand for concrete admixtures
The Construction Chemicals Market in Southeast Asia is expected to grow at a CAGR of 6.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1646.8 million. In Southeast Asia, regulatory shifts towards sustainable construction practices are fueling the demand for eco-friendly construction chemicals. This trend is particularly evident in the adoption of water-based reactive formulations, which are favored over solvent-based alternatives due to their lower volatile organic compound (VOC) emissions. Manufacturers are responding by reformulating solvent-based products to meet environmental standards. Notably, polyurethane and silicone-based adhesives and sealants are anticipated to experience increased demand due to their superior performance in green building applications. Furthermore, hotmelt products are poised for healthy growth, given their quick curing properties, which enable faster processing times for chemicals in various construction sectors.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Application (Non-residential, Residential) Geography (Southeast Asia).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Construction Chemicals Market in Southeast Asia Research Report
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The Construction Chemicals Market in Southeast Asia encompasses a range of specialized products including concrete chemicals, coatings, adhesives, and sealants. These building materials enhance the performance of cement and concrete in residential and commercial construction projects. Quick curing concrete admixtures, waterproofing solutions, and protective coatings are key offerings. Prefabrication and modular construction also utilize these specialty chemical compounds for bonding, sealing, and insulation. Sustainable materials, green construction, and thermal insulation are emerging trends in this market, driven by technology usage and skilled manpower. Asphalt additives, plaster, and concrete repair mortar are additional product categories.
The construction chemicals market in Southeast Asia encompasses a range of products, including cement, concrete, coatings, concrete performance enhancers, prefabrication materials, adhesives, sealants, and quick-curing agents. These chemicals play a crucial role in enhancing the durability, strength, and aesthetics of buildings and infrastructure. The market's growth is driven by the region's burgeoning construction sector, which is fueled by increasing urbanization, population growth, and government initiatives to boost infrastructure development. Furthermore, the adoption of modern construction methods such as prefabrication and modular construction is expected to further propel market growth. The use of advanced chemicals in these construction techniques enables faster construction times, improved product quality, and enhanced sustainability.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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