Published By : 14 Jun 2016 | Published By : QYRESEARCH
Construction industry in emerging regions such as Asia Pacific, Latin America, and the Middle East has been surging at an exponential rate. This has proven extremely beneficial for the lignosulfonate-based concrete admixtures market.
Lignosulfonates, also known as sulfonated lignin are wood chemicals obtained as by-products during the sulfite processing of wood pulp. Since these chemicals are anionic polyelectrolyte, they are used in diverse applications such as gypsum board, as plasticizers and superplasticizers in construction, as pellets in animal feed, as oil well drilling muds in the oil and gas industry, and as pesticide and dispersant in agrochemicals. Lignosulfonates demonstrate surprising potentials as plasticizers due to which their usage is extensive in the industries of the Middle East, Latin Ameica, and Asia Pacific. Furthermore, with the expansion of the construction industry, lignosulfonates stand to witness exponential demand in the near future.
According to a report published by Transparency Market Research, the Asia Pacific, Latin America, and Middle East market for lignosulfonate-based concrete admixtures is expected to surge at a steady CAGR of 4.2% between 2015 and 2023. The market according to the report stood at US$98.9 nm in 2014 and is expected to reach US$143.1 mn by the end of 2023.
Market to Witness Rising Demand for Plasticizers
On the basis of product type, plasticizer grade lignosulfonate-based concrete admixtures have been witnessing rising demand in the market. The segment also held a dominant share of 65% in the market in 2014. However, over the next few years the superplasticizers segment is likely to rise at the fastest pace. The increasing demand from the construction industry will in turn boost the market for plasticizers in the coming years. Additionally, the demand for superplasticizers is expected to rise at an impressive rate in the forthcoming years due to the growing awareness about their high water reducing ability.
Asia Pacific to Dominate the Overall Market
Regionally, Asia Pacific has emerged as the largest market for lignosulfonate-based concrete admixtures. The increasing demand from the construction industry in India, China, and other ASEAN countries has been boosting the lignosulfonate-based concrete admixtures market in the region.