Global Construction ChemicalsMarket is Estimated to Reach $48 Billion by 2025, Says Accurize Market Research
Global Construction Chemicals Market report published by Accurize Market Research forecast that the global market is expected to reach $48 billion by 2025; growing at a CAGR of 6.2% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Growing economics and quality of construction to drive the Market
Rising economics and quality of construction in countries such as China and India are supporting the growth of the Asia-Pacific construction chemicals market. Rapid urbanization which has led to change in consumer lifestyle coupled with upliftment in quality of construction would boost the global market in the coming five to six years. However, factors such as low consumer responsiveness may hinder the global market. Growing consumer awareness regarding sustainable infrastructure is expected to create numerous growth opportunities for the market in the future years.
Market Segmentation
The global construction chemicals market is segmented into type and geography. The construction chemicals market is segmented by type as concrete and mixture, asphalt additives, adhesives and sealant, protective coatings, and other types.
By geography the market is segmented into North America, Europe, Asia-Pacific and rest of the world (RoW). The U.S., Canada and Mexico are covered under North America wherein Europe covers Russia, U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific covers China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Middle East and Africa.
"Protective coatings accounted for the largest market share in the type segment", says Accurize
Protective coatings accounted for the largest market share in 2017, and are expected to continue its dominance during the forecast period, owing to high market demand for stronger and weather resistant buildings and infrastructure. Plenty of heritage buildings globally would help to drive or facilitate the growth of protective coatings used for restoration and maintenance works.
"Asia-Pacific dominated the global market with the highest market share over the forecast period", says Accurize
Asia-Pacific dominated the global construction chemicals with largest market share of 47% in 2017, and expected to continue its dominance during the forecasted period, owing to the heavy urbanization and industrialization that drives the requirement for environmental friendly products and sustainable infrastructure.
Top players in the market
Major players operating in the market are RPM International Inc., Ashland Inc., Arkema SA, MAPEI S.p.A., BASF SE, Fosroc International Ltd., Pidilite Industries Limited, The Dow Chemical Company, W. R. Grace & Co., and Sika AG, among others.
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