Market Trends of Calcium Stearate Industry
Increasing Demand for Construction Activities
- Calcium stearate is used in abundance in the construction industry as a waterproofing agent and to stop efflorescence.
- It is mixed with concrete and used in building floors and in the prefabrication industry. It is also used as a powder in mortars and putties and as an emulsion in systems that are already put together.
- The growing number of projects like the construction of buildings, production houses, and new offices is driving the demand for calcium stearate in the construction sector.
- The rapid expansion of residential and commercial buildings is the main factor driving the market’s growth in China. According to the World Bank, China has been encouraging and enduring a continuous urbanization process, which is estimated to grow by 70% in 2030.
- As per the estimates of the Institution of Civil Engineers, the top three countries, i.e., China, India, and the United States, will register almost 60% growth in the global construction industry by 2025, thus fueling market growth.
- According to Industrial Sources, global construction was valued at USD 9.7 trillion in 2022, and it is forecasted to reach USD 13.9 trillion by 2037, driven by superpower construction markets China, the United States, and India.
- The United States includes a significant share of the construction industry in North America.
- According to the US Census Bureau, the annual value for construction in the United States accounted for USD 1,978.7 billion in 2023, which is an increase of about 7.03% compared to that of 2022.
- Due to the increasing housing construction markets in China and India, Asia-Pacific is expected to record the highest house prices. By 2030, these two countries are expected to represent more than 43.3% of the world's middle class.
- During the forecast period, the above factors are likely to have an effect on the market for calcium stearate in the building industry.
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Asia-Pacific to Dominate the Market
- Asia-Pacific dominated the global market share. China is considered one of the most lucrative markets for calcium stearate due to the availability of low-cost raw materials and labor.
- The booming economy of China has given companies that make consumer goods market opportunities to grow in the world. Attracted by the huge potential of the Chinese consumer goods market, many foreign companies entered China and set up production units, thus boosting the market’s growth.
- Asia-Pacific countries, such as China, India, and Vietnam, are registering strong growth in construction activities, which is expected to drive the consumption of these coatings in the region during the forecast period.
- As per the US International Trade Administration, China is the largest global construction market and is expected to grow at an average annual rate of 8.6% by 2030. According to the National Development and Reform Commission (NDRC), China will invest USD 1.43 trillion in significant construction projects by 2025.
- According to the National Bureau of Statistics of China, the gross output value of the construction industry in China in the year 2023 increased by 1.99% and was valued at CNY 71,284.72 billion (~USD 10,086.78 billion).
- According to the Ministry of Housing and Urban Rural Development's forecast, China's construction sector is projected to remain at 6 % of its GDP in 2025. In view of these forecasts, in January 202, the Chinese government announced a five-year plan to improve sustainability in the construction industry through quality and driven development.
- In addition, the residential sector in India is growing, and government support and initiatives are further boosting demand. In the budget of 2022-2023, the Ministry of Housing and Urban Development (MoHUA) allocated about USD 9.85 billion to construct houses and create funds to complete the halted projects.
- Over the next few years, the demand for calcium stearate in rubber, plastics, construction, pharmaceuticals, and other industries is likely to be driven by all of the above factors.
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