As per the latest report published by Variant Market Research, Global Construction Chemicals Market is estimated to reach $46.6 billion by 2024; growing at a CAGR of 6.3% from 2016 to 2024. Construction chemicals involve chemical formulations used with cement, concrete, or other construction material to accumulate the construction materials together. To achieve its aesthetic, functional, and design necessities of civil structures, these specialty materials are mixed in a definite quantity with the construction materials. As construction chemicals are the important elements of chemical industry, they perform an important function in the global infrastructure development. These construction chemicals also reduce the quantity of cement and water that are usually required during the construction. These chemicals are specialty chemicals which are used in constructing any buildings to give additional protection from environmental risks and to improve their life.
Growing adoption in developing countries, rapid urbanization, rising global construction industry, rising quality of construction and economics, and growing conformity with recent manufacturing standards are the factors driving the growth of the construction chemicals market. However, changing economic cycles and low consumer responsiveness may hinder the growth of the market. Furthermore, growing responsiveness towards sustainable infrastructure & energy conservation and Use of Ready-To-Mix Concrete (RMC) in several developing nations might provide with several growth opportunities in the forecasted years.
The global construction chemicals market has been segmented into type and geography. The construction chemicals market is further segmented by type as concrete and mixture, adhesives and sealants, asphalt additives, protective coatings, and other types.
By geography, the market has been bifurcated into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The U.S., Canada, Mexico are covered under North America wherein Europe covers UK, Germany, France Italy, and Rest of Europe. Asia-Pacific covers China, Japan, India, South Korea, and others. RoW covers South America, Middle East, and Africa.
The key players operating in the market are BASF SE, Ashland Inc., Arkema S.A., MAPEI S.p.A., Fosroc International Ltd., RPM International Inc., The Dow Chemical Company, W. R. Grace & Co., Sika AG, and Pidilite Industries Limited, among others.
The key takeaways from the report
- The report will provide detailed analysis of Construction Chemicals Market with respect to major segments such as type and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Construction Chemicals Market has been included in the report
- Profile of the key players in the Construction Chemicals Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Construction Chemicals Market
- Concrete and Mixture
- Adhesives and Sealant
- Asphalt Additives
- Protective Coatings
- Other Types
- North America
- ·South Korea
- Rest of the World
- ·South America
- ·Middle East