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.
Browse full research report on Construction Chemicals Market: 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.
Browse more reports of this category
by Grand View Research: 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
- U.S.
- Europe
- Germany
- Italy
- France
- U.K.
- Asia Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Brazil
- Middle East
& Africa (MEA)
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: www.grandviewresearch.com
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