Study on Construction Chemicals Market by Infinium Global Research is comprehensive presentation of qualitative and quantitative research to identify key trends, growth prospects, drivers, restraints and opportunities in the Global market. The report also deep dives into the sub-segments of Construction Chemicals Market by type (concrete admixtures, waterproofing & roofing, repair, flooring, sealants & adhesives), application (residential, industrial/commercial, infrastructure and repair structure) through main geographies in the Global Market such as North America, Europe, Asia-Pacific and RoW. Browse through over 100 tables and figures to get complete view of the global and regional markets of Construction Chemicals over the period of 2017 to 2023. This report also provides the existing competitive scenario of some of the key players of the Global Construction Chemicals Market which includes company profiling of BASF SE, W.R. Grace, RPM International Inc, Sika A.G., Fosroc International, The Dow Chemical Company, Arkema S.A., Ashland Inc., MapeiS.p.A, Pidilite Industries. The global construction chemical market is projected to grow with a CAGR of 5.5% over the forecast period of 2017-2023 and surpass USD 40 billion by 2023.
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Construction chemicals market is merely driven by the overall building and infrastructural development activities
Construction chemicals are chemical formulations used with cement, concrete and other construction material during construction to hold the construction materials together. Construction chemicals are widely used in construction of residential, industrial, commercial and infrastructure projects. Residential building has the major market share for construction chemicals followed by commercial buildings. Growing demand for building maintenance, repair, and modification will escalate the demand for the adhesives over the forecast period. Additionally, rapid urbanization and changing lifestyle among peoples is driving the demand for quality construction thereby driving the demand for construction chemicals market. However, lack of training regarding the usage of products may hinder the market growth in the upcoming years. On the other hand, high product cost is likely to restrain the growth of the market, as the builders tend to minimize the overall construction cost to maximize profit. Moreover, with the increase in government regulations such as national building code consumption of construction chemicals that obey the applicable norms are expected to grow rapidly over the recent years. With increase in global tourism and increase in efforts to conserve regional heritage will witness a remarkable growth opportunity for the key players in the construction chemicals market. The major players in the construction chemical includes BASF and the Dow Chemical Company. BASF signed an agreement to acquire GRUPO THERMOTEK, a leading waterproofing systems supplier based in Monterrey, NL, and Mexico.
Booming construction industries in the BRICS nations, led by China and India will have a major impact in the global construction chemicals market
Among the geographies, Asia Pacific region is expected to witness highest market share for construction chemical products followed by Europe and North America. The increasing infrastructural construction activities are the major drivers for the Asia-Pacific construction industry. China accounts for the one third of the globe for the construction chemical market. Additionally, increasing disposable income of individuals have influenced them to invest more for residential structures. On the other hand, other countries such as India, Brazil and Russia are expected to boost the construction chemicals market over the forecast period.