The Global Market for Construction Chemicals is Forecast to Reach US$48.8 Billion by 2022
Growing Focus on Improved Construction Economics and
Long Lasting Structures Steer Growth in the Global Construction Chemicals Market, According to a New Report by Global Industry Analysts, Inc.
GIA launches comprehensive
analysis of industry segments, trends, growth drivers, market share, size and
demand forecasts on the global Construction Chemicals market. The
global market for Construction Chemicals is forecast to reach US$48.8 billion
by 2022, driven by the resurgence in
construction activity in developed countries, significant investments in infrastructure
projects in emerging markets and growing demand for high performance and
environmental friendly construction chemicals.
Construction chemicals are
specialty chemical formulations added in specific proportions to construction
materials to address the functional, design and aesthetic requirements of
residential, commercial, industrial, and infrastructure structures. These
chemicals improve the workability and performance of the material, while
protecting and holding construction materials and finished structures together.
The growth in global construction activity at higher than GDP growth rates, low
raw material costs and a continued
demand for greener, sustainable technologies are driving growth
prospects in construction chemicals market. Other factors driving demand
include growing focus on short completion times, enhanced construction
economics, and demand for long lasting constructions that
do not require frequent repair and renovation. At the same time, increasing
need for better infrastructure in developing economies as well as rapid
urbanization and industrialization continues to spur new opportunities. Repair and maintenance of existing structures
is also expected to be a major revenue generator in the construction chemicals
market, driven by the revival of consumer spending on home repair, renovation
and remodeling in developed markets.
The market is witnessing
increased manufacturer focus on product improvement owing to the adoption of new
and better technologies and materials in the construction industry. Building
constructors globally are shifting attention towards innovative construction chemicals to ensure quality,
durability and extended service life of structures. Changing government
regulations further encourage the development of “smart’ or ‘green’ buildings,
thereby bolstering demand for eco-friendly, sustainable and non-hazardous
specialty chemicals. The recent years witnessed notable development of
innovative admixtures to improve the functionality of materials such as concrete.
While increasing consumption in the building and construction industry remains
a major driver for waterproofing admixtures, ongoing advancements in
construction industry continue to boost demand for improving texture and
quality of construction.
Protective Coatings &
Sealers constitutes the largest segment, while Caulks
& Adhesives ranks as the fastest-growing market over the analysis
period. Demand for concrete admixtures is spurred by infrastructure development
and building activity, while protective chemicals demand is linked with trends
in maintenance requirements. Non-Residential Construction constitutes the largest end-use market for
construction chemicals, while Non-Building Construction segment is projected to
record the fastest growth.
As stated by the new market
research report on Construction
Chemicals, Asia-Pacific
represents the largest and the fastest growing market worldwide with a CAGR of 6.3%
over the analysis period. The growth in the region is led by encouraging GDP
forecasts and a parallel expansion of opportunities in residential, commercial,
industrial, and infrastructure construction; launch of government funded fully
integrated chemical research projects aimed at improving the competitiveness of
the domestic chemicals industry and its ability to meet high performance needs
of the construction industry; growing international pressure to curb emissions
and the resulting tightening of regulatory restrictions that encourage demand
for environment friendly chemical systems and formulations.
Major players in the market
include Akzo Nobel Chemicals AG, Antas Chemical Co., Ltd., Ashland Inc., BASF
SE, Bostik Inc., Franklin International Inc., GCP Applied Technologies, H.B. Fuller
Company, Henkel AG & Co. KGaA, Mapei S.p.A., RPM International Inc., DAP
Products Inc., Tremco Incorporated, Sika AG, and The Dow Chemical Company.
The research report titled “Construction
Chemicals: A Global Strategic Business Report” announced by Global Industry
Analysts Inc., provides a comprehensive review of market trends, growth drivers,
challenges, and strategic corporate activities of major companies worldwide. The
research report provides market estimates and projections in dollars for major
geographic markets including the United States, Canada, Japan, Europe (France,
Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China,
India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin
America), and Rest of World. Product segments analyzed include Protective
Coatings & Sealers, Caulks & Adhesives, Cement & Asphalt Additives,
Grouts & Mortars, and Polymer Flooring & Others. End-Use Sectors covered
include Residential Construction, Non-Residential Construction, and
Non-Building Construction.
Global Industry Analysts, Inc. 6150 Hellyer Ave., San
Jose CA 95138, USA, All Rights Reserved.
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