The global construction chemicals market size is expected to reach USD 67.61
billion by 2024, according to a new report by Grand View Research, Inc. The
global market is estimated to register a CAGR of 6.3% during the forecast
period. Rising urbanization, coupled with various infrastructural developments
are boosting market growth.
Construction chemicals are the chemical
compounds used to modify the properties of the construction materials. These
chemicals reduce the amount of water used in a construction. They play a
crucial role in improving the overall performance of a building and
non-building structures. These chemicals can be categorized into different
product segments including concrete admixtures, construction adhesives,
construction sealants, protective coatings, and waterproofing chemicals.
The most important group of raw materials
found in almost every construction chemical formulation are polymers. In many
cases, the chemical producer, construction chemical manufacturer, and end-user
work together on the formulation to get the desired product. Most of the key
players in this market spend around 3% of their total expenditure on R&D
activities every year. BASF SE, The Dow Chemical Company, Bayer Material
Science, Wacker Chemie AG, and SABIC are some of the major raw material
suppliers for these chemicals.
China is the largest regional market for
construction chemicals. The building and construction industry in China has
been growing at a rate of around 16.2% annually. Non-residential building is
expected to be the largest construction market. Rapid urbanization is one of
the major factors for the growth of construction industry in China. In 2014,
Chinese government launched “New Style Urbanization Plan (2014-2020)” to build
green cities, smart cities, and cultural cities. In addition, EU-China
partnership and agreements for urban development have played an important role
in the development of construction sector in China.
Non-residential and infrastructure end-use
segment is expected to have high penetration due to rapid urbanization in
emerging economies. On the other hand, residential segment is expected to
witness the fastest growth rate of 6.6% durign the forecast years, in terms of
revenue. Construction chemicals are used in new buildings, as well as for
repair and rehabilitation of the old buildings. They reduce the water and
cement content in the concrete and impart chemical properties such as
cross-linking, which result in increased strength of the mortar.
Full Research Report On construction
chemicals market Analysis:
https://www.grandviewresearch.com/industry-analysis/construction-chemicals-market
https://www.grandviewresearch.com/industry-analysis/construction-chemicals-market
Further key findings from the study suggest:
·
The global market for construction
chemicals stood at 33,135 kilo tons in 2015 and is projected to expand at a
volume-based CAGR of 5.2% over the forecast period
·
The residential segment accounted for 33.0%
of the total market volume in 2015
·
Sluggish growth in the European
construction sector due to rising utility expenditure is expected to limit the
market development in the region
·
Major companies in the market include BASF
SE; Pidilite Industries Ltd.; FOSROC Chemicals India Pvt. Ltd.; Sika AG; W. R.
Grace and Co.; Dow Chemical Co.; RPM International, Inc.; Arkema S.A.; and
Mapei S.p.A.
View
More Reports Of This Category By Grand View Research At: https://www.grandviewresearch.com/industry/specialty-bio-based-and-water-soluble-polymers
Grand View Research has segmented the global construction chemicals
market on the basis of product, end use, and region:
Construction Chemicals Product Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
·
Concrete Admixtures
·
Concrete Adhesives
·
Concrete Sealants
·
Protective Coatings
Construction Chemicals End-use Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2013 - 2024)
·
Residential
·
Non-residential & Infrastructure
Construction Chemicals Regional Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
·
North America
o
U.S.
·
Europe
o
Germany
o
Italy
o
France
o
U.K.
·
Asia Pacific
o
China
o
India
o
Japan
o
South Korea
·
Latin America
o
Brazil
·
Middle East & Africa (MEA)
Access Full Press Release of this Report: https://www.grandviewresearch.com/press-release/global-construction-chemicals-market
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more information: https://www.grandviewresearch.com/
