The global construction chemicals market was worth more than USD xx billion in revenue in 2018 and is expected to cross USD xx billion in 2023, growing at a healthy CAGR of over xx% during the forecast period.
Construction chemicals are specialty chemical compositions used to build structures and buildings with fortification and durability. Construction chemicals are formulated with different chemicals and additives and are segmented based on their chemical composition and application. The major use of construction chemicals is for building residential, industrial/commercial structures, infrastructure, and repair of structures.
Based on the chemical type construction chemicals can be concrete admixtures, asphalt modifiers, adhesives and sealants and protective coatings.
As construction chemicals are one of the major products used in residential, industrial/commercial structures and infrastructure industry, demand from these industries is expected to increase the growth of this market. Demand from residential, industrial/commercial structures and infrastructure markets is actually increasing because of growing population and extra income in developing countries. Additionally, rising demand for repair and protective chemicals is likely to drive construction chemicals market. Increasing infrastructure projects has generated growing need for construction chemicals such as Ligno-based, Sulfonated Naphthalene Formaldehyde and Sulfonated Melamine Formaldehyde-based and PCE-based concrete admixtures.
Drivers and Restraints of Construction Chemicals Market
Growing investments in the construction industry in regions like Asia and the Americas are likely to offer tremendous possibilities for construction chemicals market in the future. As the business requires low intensive capital and has higher accessibility to raw material, many multinational businesses are investing in the market.
Construction chemicals are exposed to the probability of volatility in economic growth. As economy’s slowdown the constructions industry stagnates and thereby decrease the demand for construction chemicals. Also existing and future environmental and health regulations concerning the use of certain construction chemicals are likely to challenge the market growth.
Construction Chemicals Market by Region
Asia was the largest consumer of construction chemicals and this pattern is anticipated to continue to be identical over the following few years. Consumption in the Asia is showing upward trend because of increase in economic activity. Growing demand for residential, commercial and road infrastructure will drive construction chemicals market in the Asia. With major production capacities in Asia, the region is likely to grow in terms of global supply capability. Demand from Europe was relatively stable and is likely to stay same in the next few years. Consumption of construction chemicals in the Americas is likely to grow at a significant rate due to demand from upcoming infrastructure projects in the USA.
Top players in this market include Axim Italcementi Group, The Dow Chemical Company, CICO Technologies Ltd, Ashland Inc., BASF, SIKA and RPM International among others.
The report covers exhaustive analysis on:
- Global Market Segments
- Global Market Size
- Global Market Competitive Landscape
- Production Technology
- Global Market Value Chain
- In depth summary of parent market
- Altering market characteristics in the industry
- Detailed market segmentation
- Historical and forecast market size in terms of volume and value
- Current industry developments
- Competitive landscape
- Potential and niche segments, regions showing promising growth