China Construction Chemicals Market to Grow at more than 6% through 2020
Growing housing demand coupled with increasing government investments in construction sector to drive construction chemicals market in China
According to recently released TechSci Research report,“China Construction Chemicals Market Forecast and Opportunities, 2020”, construction chemicals market in China is forecast to grow at a CAGR of over 6% during 2015-20.Growth in the market is anticipated on account of increasing housing demand, growing use of high quality construction chemicals due to rising purchasing power of consumers, and increase in the number of infrastructure projects for the development and renovation of airports, subways, tunnels, dams, highways, bridges, railway networks and power plants in different regions across the country.
In order to boost the country’s economy, the Chinese government is investing heavily in infrastructural development. In 2014,the government approved an investment of more than USD100 billion for various infrastructure projects across the country.Moreover, the government also announced its plans for the development of airports in Qinghai, Inner Mongolia, Yunnan, Guizhou and Jilin, in 2014. Growing investment in infrastructure development projects is steering construction activities in China, thereby aiding growth of construction chemicals market in the country.
“Construction chemicals market in China is largely fragmented with the presence of more than 400 construction chemical companies. The market is dominated by unbranded players due to their strong presence and well established distribution network in the country. Small-scale construction chemical manufacturers are present in every province across the country with a strong market hold, on account of which unbranded players are anticipated to maintain their dominance in the market through 2020.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“China Construction Chemicals Market Forecast and Opportunities, 2020” has analyzed the potential of the construction chemicals market in China, and provides statistics and information on market size, shares and trends. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in China construction chemicals market.