Construction Chemicals Market Anticipated To Upgrade $67.61 Billion By 2024: Grand View Research Inc.

Construction Chemicals Market Anticipated To Upgrade $67.61 Billion By 2024: Grand View Research Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, Construction chemicals are the chemical compounds used to modify the properties of the construction materials. These chemicals reduce the amount of water used in a construction.

According to a report,“Construction Chemicals Market Size, Share & Trend Analysis Report By Product (Concrete Admixture, Construction Adhesives, Construction Sealant, Protective Coatings) By Application (Residential, Non-Residential) And Segment Forecast, 2016-2024”, published by Grand View Research, Inc.,

The global construction chemicals market size is expected to reach USD 67.61 billion by 2024, according to a new report by Grand View Research, Inc. The global market is estimated to register a CAGR of 6.3% during the forecast period. Rising urbanization, coupled with various infrastructural developments are boosting market growth.

Construction chemicals are the chemical compounds used to modify the properties of the construction materials. These chemicals reduce the amount of water used in a construction. They play a crucial role in improving the overall performance of a building and non-building structures. These chemicals can be categorized into different product segments including concrete admixtures, construction adhesives, construction sealants, protective coatings, and waterproofing chemicals.

The most important group of raw materials found in almost every construction chemical formulation are polymers. In many cases, the chemical producer, construction chemical manufacturer, and end-user work together on the formulation to get the desired product. Most of the key players in this market spend around 3% of their total expenditure on R&D activities every year. BASF SE, The Dow Chemical Company, Bayer Material Science, Wacker Chemie AG, and SABIC are some of the major raw material suppliers for these chemicals.

China is the largest regional market for construction chemicals. The building and construction industry in China has been growing at a rate of around 16.2% annually. Non-residential building is expected to be the largest construction market. Rapid urbanization is one of the major factors for the growth of construction industry in China. In 2014, Chinese government launched “New Style Urbanization Plan (2014-2020)” to build green cities, smart cities, and cultural cities. In addition, EU-China partnership and agreements for urban development have played an important role in the development of construction sector in China.

Non-residential and infrastructure end-use segment is expected to have high penetration due to rapid urbanization in emerging economies. On the other hand, residential segment is expected to witness the fastest growth rate of 6.6% durign the forecast years, in terms of revenue. Construction chemicals are used in new buildings, as well as for repair and rehabilitation of the old buildings. They reduce the water and cement content in the concrete and impart chemical properties such as cross-linking, which result in increased strength of the mortar.

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U.S. construction chemicals market demand by product, 2013 - 2024 (USD Billion)

Further key findings from the study suggest:

  • The global market for construction chemicals stood at 33,135 kilo tons in 2015 and is projected to expand at a volume-based CAGR of 5.2% over the forecast period

  • The residential segment accounted for 33.0% of the total market volume in 2015

  • Sluggish growth in the European construction sector due to rising utility expenditure is expected to limit the market development in the region

  • Major companies in the market include BASF SE; Pidilite Industries Ltd.; FOSROC Chemicals India Pvt. Ltd.; Sika AG; W. R. Grace and Co.; Dow Chemical Co.; RPM International, Inc.; Arkema S.A.; and Mapei S.p.A.

Browse More Reports in Specialty Polymers Industry:

  • Concrete Admixture MarketThe industry growth is supported by increasing investment in the infrastructure sector. Government investments in the expansion of airports are likely to propel the demand for concrete admixtures. 
  • Construction Flooring Chemicals MarketRising demand for advanced flooring products on account of increasing awareness toward durability and good aesthetics features is expected to remain a favorable factor.

Global construction chemicals market revenue share by application, 2015 (%)

Grand View Research has segmented the global construction chemicals market on the basis of product, end use, and region:

Construction Chemicals Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)

  • Concrete Admixtures

  • Concrete Adhesives

  • Concrete Sealants

  • Protective Coatings

Construction Chemicals End-use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)

  • Residential

  • Non-residential & Infrastructure

Construction Chemicals Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)

  • North America

    • U.S.

  • Europe

    • Germany

    • Italy

    • France

    • U.K.

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • Latin America

    • Brazil

  • Middle East & Africa (MEA)

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 126 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 4126 analysts and consultants, the company adds 121200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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