The Construction Chemicals Market witnessed a high growth in the past few years which is estimated to increase in the coming years. This growth is largely fuelled by the growth of the construction industry, technological advancements, and growing demand in the Asia-Pacific region.
Asia-Pacific is the biggest and the
fastest-growing region due to the growing demand for construction chemicals in
India, China, Japan, and South Korea. North America and Europe are matured
markets and are expected to grow at a low CAGR in comparison with Asia-Pacific
till 2020.
Currently, the Asia-Pacific region is the largest market of construction chemicals and is estimated to register the highest CAGR. Countries such as China, Japan, and India are expected to lead the Asia-Pacific construction chemicals market, with China accounting for the largest share in the regional demand of construction chemicals. The market size, in terms of volume, of construction chemicals is comparatively low in the RoW region, but the estimated growth of the region is the second highest after Asia-Pacific.
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The drivers identified for the construction
chemicals market are growing infrastructure requirements in developing
economies, improving economics of construction, and increasing urbanization of
population. Developing countries that are major markets of construction
chemicals include China, India, Brazil, Egypt, Saudi Arabia, and UAE, whereas
developed countries that are major market include the U.S., Germany, Japan, and
Italy.
Asia-Pacific is the largest market, both in terms
of volume and value, followed by RoW. The key companies in this market are BASF
SE (Germany), W.R. Grace (U.S.), RPM International Inc. (U.S.), Sika A.G.
(Switzerland), Fosroc International (U.K.), The Dow Chemical Comapny (U.S.),
Arkema S.A. (France), Ashland Inc. (U.S.), Mapei S.p.A (Italy), and Pidilite
Industries (India).
Construction chemicals are chemical compounds added
in formulation of various specialty chemicals or in construction materials made
of cement, mortar, and concrete at construction sites to improve workability,
performance, compatibility with construction structure and protect construction
materials and finished structures.
Construction chemicals comprise a wide variety of
materials such as cementations; admixtures like waterproofing admixtures,
plasticizers, accelerating agents, retarding agents and others; adhesives and
sealants like acrylic adhesives, polyurethanes, polyvinyl acetates, epoxy and
others; and flame retardants like ATH, antimony oxides, brominated, and
chlorinated. The use of these chemicals depends and varies on the type of and
scale of construction projects.
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The market size of construction chemicals depends
on new construction and its maintenance and repair activities. The demand for
construction chemicals is mainly driven by growing requirements for housing and
infrastructure. It is also influenced by consumer awareness, need for durable
and aesthetic civil structure, and other benefits achieved in making
construction structure more economical for contractors and other interest
holders. The restraints in the market are different across regions, such as
mature infrastructure, logistic issues, and low investments in the
infrastructure sector.
Construction chemicals comprise a
wide variety of materials such as cementations; admixtures like waterproofing
admixtures, plasticizers, accelerating agents, retarding agents and others;
adhesives and sealants like acrylic adhesives, polyurethanes, polyvinyl
acetates, epoxy and others; and flame retardants like ATH, antimony oxides,
brominated, and chlorinated. The use of these chemicals depends and varies on
the type of and scale of construction projects.
The market size of construction
chemicals depends on new construction and its maintenance and repair
activities. The demand for construction chemicals is mainly driven by growing
requirements for housing and infrastructure. It is also influenced by consumer
awareness, need for durable and aesthetic civil structure, and other benefits
achieved in making construction structure more economical for contractors and
other interest holders. The restraints in the market are different across
regions, such as mature infrastructure, logistic issues, and low investments in
the infrastructure sector. The opportunities are identified in new product launches
for various construction applications.
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