Global Construction Chemicals Market is projected to be valued $47 Billion by 2024; with a CAGR of 6.2% from 2017 to 2025. Construction Chemicals are used to enhance concrete strength and quality, provide water-tightness and protect concrete structures from atmospheric degradation.These are mixed in a specific proportion with the construction materials to achieve its aesthetic, functional, and design necessities of civil structures. These chemicals are used in construction industry with applications in roads and bridges, airports and metro transit, infrastructure building, in industrial, commercial and residential construction and repair & rehab projectsto improve their life as well as give additional protection from environmental risks.
Increasing adoption in developing countries, rapid urbanization, rising economics and quality of construction, and increasing compliance with modern manufacturing standards are the factors driving the growth of the construction chemicals market. However, low consumer responsiveness and changing economic cycles may hinder the growth of the market. Use of Ready-To-Mix Concrete (RMC) in several developing countries and increasing responsiveness towards sustainable infrastructure and energy conservation might provide with several growth opportunities in the forecasted years.
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 has been bifurcated 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 UK, Germany, France Italy, and Rest of Europe. Asia-Pacific covers China, Japan, India, South Korea, and Rest of Asia-Pacific. RoW covers South America, Middle East, and Africa.
Major companies operating in the global Construction Chemicals market are MAPEI S.p.A., Ashland Inc., BASF SE, Fosroc International Ltd., Arkema SA, RPM International Inc., Pidilite Industries Limited, Sika AG, W. R. Grace & Co., and The Dow Chemical Company, among others.
The key takeaways from the report
Scope of the Global Construction Chemicals Market