China construction chemicals market was estimated at USD 13,291.55 million in 2018. The market is expected to register a CAGR of 7.45% in terms of revenue, during the forecast period, 2018 to 2023. The residential sector dominated the China construction chemicals market, while the industrial segment is estimated to register the fastest CAGR during the forecast period.
China is the largest market for construction chemicals, accounting for around 64% of the regional market share in terms of revenue in 2018. China’s real estate sector has been growing rapidly with increased investment by the government. In 2016, property prices in China rose by about 30.0% due to increased activity in the real estate space. In China, the housing authorities of Hong Kong have launched a number of measures to push-start the construction of low-cost housing. The authorities has projected the capital expenditure in construction of HK$ 23,923 million in its proposed budget for 2018-19, i.e. 7% higher than the budget allotted for the FY2017, in order to the construct more affordable flats. The growth in construction is expected to boost the construction chemicals market in the country during the forecast period.
Concrete admixtures reduce the concrete construction cost by modifying the properties of hardened concrete, ensuring better quality during mixing, transporting, placing, and curing, and thus, overcoming the most emergencies during concrete operations. China has the largest market for concrete admixture, owing to the increasing government investments in transport infrastructure in the country. There have been investments of CNY 823.8 billion and CNY 801.5 billion in China’s rail infrastructure in 2015 & 2016, respectively. Various incentives by the government to promote the infrastructural sector, coupled with the blooming residential sector (owing to the rising middleclass population), have largely facilitated the growth of the construction market in China over the years.
Major Players: Mapei Inc., Sika AG, BASF SE, and W.R. Grace & Co., among others
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