TransparencyMarket Research states that the competition in the Asia Pacific, Latin America & Middle EastLignosulfonate-based concrete admixtures market ishighly fragmented. Presence of several national as well as internationalplayers is expected to intensify the competition in the coming years. Vendorsoperating in the Asia Pacific, Latin America & Middle EastLignosulfonate-based concrete admixtures market are expected to focus onproduct innovation and better market positioning in the coming years. Theemphasis on making technological advancements will also be seen as an importantfactor in the overall market in the coming years. Some of the leading playersin the Asia Pacific, Latin America & Middle East lignosulfonate-basedconcrete admixtures market are BASF SE, Sika AG, W.R. Grace Co-Conn., CEMEXS.A.B. de C.V., Fosroc International, CHRYSO Group, and CICO Technologies Ltd.
Accordingto the research report, the Asia Pacific, Latin America & Middle Eastlignosulfonate-based concrete admixtures market is expected to reach avaluation of US$143.1 mn by the end of 2023. During the forecast period of 2015and 2023, the overall market is projected to showcase a steady CAGR of 4.20%.Regionally, Asia Pacific is expected to dominate the lignosulfonate-basedconcrete admixtures market due to strengthening construction sector. Out of thetwo products available in the Asia Pacific, Latin America & Middle Eastlignosulfonate-based concrete admixtures market, the plasticizers segment isexpected to hold a lion’s share in the overall market.
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WideningApplication of Lignosulfonate-based Concrete Admixtures Creates Scope forGrowth
The demandfor lignosulfonate-based concrete admixtures has been consistently rising overthe past few years in the Asia Pacific, Latin America, and the Middle Eastmarket. This emerging trend can be attributed to rapid growth of constructionindustry in these regions. Accelerating pace of urbanization and industrializationare both expected to be key contributors to the overall market in the comingyears. The widening applications of lignosulfonate-based concrete admixturesare also making a significant contribution to the soaring profits of theoverall market. Today, lignosulfonate-based concrete admixtures are used inanimal feed for making pellets, construction as plasticizers andsuperplasticizers, gypsum board, in the oil & gas industry for oil welldrilling muds, and in agrochemical as pesticide dispersants.
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The mostimportant function of lignosulfonate-based concrete admixtures is to be thecrucial water reducing chemicals. This property is the primary reason for itssoaring uptake in the construction industry, as it drastically brings down theconsumption of water along with maintaining the actual strength of concrete.The increasing number of infrastructure projects in developing countries andemerging economies are expected to propel the growth of Asia Pacific, LatinAmerica & Middle East lignosulfonate-based concrete admixtures market inthe coming years.
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Availability of CheaperAlternatives to Hamper Market Growth
Despite the strong market drivers,the AsiaPacific, Latin America & Middle East lignosulfonate-based concreteadmixtures market is likely to face some tough challenges. Availability ofcheaper alternatives are expected to eat into the share of this market in thenear future. Price-sensitive countries are expected opt for even moreaffordable options, predicts research report. The slow pace of infrastructuraldevelopment in developing economies is also projected to result in slow growthof the Asia Pacific, Latin America & Middle East lignosulfonate-basedconcrete admixtures market.
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