Improving Quality and Economics of Construction dominating Construction Chemicals Market
The "Construction Chemicals Market" registered a high growth in the past few years which is estimated to continue in the coming years supported by growing construction industry in Asia-pacific and RoW regions. The demand for construction chemicals depends on new construction and its maintenance and repair activities.
The demand for these chemicals is mainly driven by growing requirements for housing and infrastructure. It is also influenced by consumer awareness, need for durable and aesthetic civil structure, and other benefits achieved in making construction structure more economical for contractors and other interest holders.
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Currently, the Asia-Pacific region is the largest market of construction chemicals and is estimated to register the highest CAGR. Countries such as China, Japan, and India are expected to lead the Asia-Pacific construction chemicals market, with China accounting for the largest share in the regional demand of construction chemicals.
Growth Drivers:
· High Demand in Developing Countries
· Improving Quality and Economics of Construction
· Growing Urbanization Trend
Opportunities:
· Utilization of Ready-To-Mix Concrete (RMC) in Developing Countries
· Development of New Products and Services
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Market By type:
· Concrete Admixture
· Construction Adhesive
· Construction Sealant
· Flame Retardant
Market by region:
· North America
· Europe
· Asia-Pacific
· RoW
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The Asia-Pacific and RoW regions are the most active markets in terms of strategic initiatives, owing to their market demands. The construction industry has led the rapid growth in the construction chemicals market.
The significant construction chemicals manufacturers include BASF SE (Germany), W.R. Grace (U.S.), RPM International (U.S.), Sika A.G. (Switzerland), Fosroc International (U.K.), The Dow Chemical Company (U.S.), Arkema S.A. (France), Ashland Inc. (U.S.), Mapei S.p.A (Italy), Pidilite Industries (India), and other local players.
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