The
global construction chemicals market is likely to attain USD 67.61
billion by 2024. It is projected to observe significant gains over the forecast
period (2016-2024). The market is driven by rising demand from several end-use
industries comprising residential and non-residential & infrastructure.
Brisk move towards urbanization along with escalating focus of infrastructure
growth in promising economies will stimulate the demand further.
The worldwide
construction chemicals market can be segmented by products, end-users, and
regions. Products are concrete admixtures, concrete sealants, concrete
adhesives, and protective coatings. Concrete admixtures segment contributed for
above 64.7% of the total market volume shares in 2015.
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They are
extensively used in concrete to improve its physical and chemical properties
and are utilized in all types of constructions for instance non-buildings,
residential, and non-residential infrastructure. Construction chemicals develop
the power of the building structure. It provides superior durability, chemical
resistance, and noticeably lowers the water and cement necessity.
End-users in the
market encompass residential and non-residential & infrastructure. Non-residential
& infrastructure sector accounted more than 60% l revenue shares in 2015.
In this sector, construction chemicals find usage in manufacturing and
industrial buildings, composition of warehouses, hotels and retail, and office
spaces.
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Main regional
segments in the global construction chemicals market are Asia Pacific, North
America Europe, Latin America, and the Middle East & Africa (MEA). Asia
Pacific was the leading market for construction chemicals in 2015. It was
valued close to 45% in terms of value in the same year. India and China are the
chief countries in this region accounting for above 50% of the total revenue.
The worldwide
construction industry is gradually recovering post the decline in 2008 and
2009. Several European construction companies achieved substantial shares in
2015. The expansion of the construction chemicals industry is directly linked
with the intensification of construction market at the global scale.
Market participants
are mounting their customer base through strategies counting exhibitions and
new product launches. U.S. based Dow Chemical Company is a key participant in
this market. The company manufactures an extensive variety of adhesive and
sealant products. Other top most players in the market include FOSROC Chemicals
India Private Limited, BASF SE, Pidilite Industries Limited, Dow Chemical
Company, W.R. Grace & Company, and Sika AG.
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