Market Overview: Construction Chemicals Market
Construction chemicals are chemical mixtures used during construction to hold construction materials together, such as cement, concrete, or other building materials. To meet the functional, aesthetically pleasing, and design requirements of civil buildings, these chemicals are blended in a certain quantity with the building materials.
Construction chemicals have emerged as one of the crucial elements of the chemical sector, contributing significantly to the growth of the country’s worldwide infrastructure. Construction chemicals are thought of as speciality chemicals that are utilised when building any structures to extend their lifespan and provide additional protection from environmental threats. Additionally, this substance reduces the usual amounts of cement and water needed during construction.
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The global construction chemical market can be divided into four segments: protective coatings, adhesives and sealants, and asphalt modifiers. In the construction of residential, commercial, industrial, and infrastructure projects, construction chemicals are frequently employed. Commercial buildings are second in market share to residential buildings for construction chemicals. Due to the growing number of residential projects, residential construction is predicted to continue to dominate the global market for construction chemicals.
Asia Pacific region has largest market share for construction chemical products, followed by Europe and North America. China alone accounts for largest market for construction chemical globally accounting for more than one third of global construction chemical market. Also, china is expected to maintain its dominance in the global market owing to increasing domestic demand for residential and commercial buildings. Other countries which are expected to boost the global market are India, Brazil, Russia and Australia.
Increasing demand for public, commercial and residential building paired with increasing urban population is driving the global construction chemical market. Additionally, increasing disposable income of individuals has influenced them to invest more for better residential structures, acting as one of the growth driver for the global construction chemical market. Demands of buildings, roads, bridges, tunnels and dams for the betterment of the infrastructure facility of the nation is further driving the market.
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Owing to better growth prospect in the construction industry many multinational companies have started investing to develop advance construction chemical products. In 2012, globally construction chemical industries total investment on research and development of new products and applications was about 3% of total sales. Some of the major companies operating in the global construction chemical market are Axim Italcementi Group, The Dow Chemical Company, CICO Technologies Ltd, Ashland Inc., BASF, SIKA and RPM International.
Key points covered in the report
- Report segments the market on the basis of types, application, products, technology, etc (as applicable)
- The report covers geographic segmentation
- North America
- The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
- The report provides company profiles of some of the leading companies operating in the market
- The report also provides porters five forces analysis of the market.
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