Construction chemicals are mainly used by the construction and civil repair industry. These chemicals help increase the strength and quality of providing water-tightness and guard concrete structures from atmospheric degradation. Construction chemicals are specialty products that are critical for sustainable infrastructure and energy conservation in the construction industry. They increase the durability of buildings and provide added protection from environmental hazards.
Market Size and Forecast
The global construction chemicals market was estimated at USD 19.5 Billion back in 2017. It is expected to reach around USD 27 Billion by 2027. The market is expected to expand at a CAGR of 6.5% from 2017 to 2027. The rapid industrialization and urbanization are the main reason for the expansion of the global construction market. In modern days various industries are stressing towards the use of environment friendly chemicals that will have least impact on environment.
The global construction chemical can be segmented on the basis of type and end use. Moreover, on the basis of end-use it is segmented into residential, industrial, infrastructure and repair structure. The residential sector dominated the global construction chemicals market with approximately 30% share globally. The expansion of workspace and offices including improved lifestyles and rapid urbanization is anticipated to drive global construction chemicals market. Infrastructure would be the first preference for new entrants on the account of increasing population and urbanization increasing the need for sustainable infrastructure and environmentally friendly chemicals.
By region, global construction chemicals market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. Asia-Pacific region accounted for has the largest share in the market. It consists of nearly 47% of the global market in 2017. The market for Asia-Pacific is primarily determined by the rapidly increasing construction activities coupled with supportive government policies. A massive consumer base and cheaper manufacturing costs are drawing large FDIs. India and China are the major countries. Booming construction industries in the BRICS nations which are led by China and India will have a major influence in the global construction chemicals market in upcoming years.
Europe construction chemicals market produced over USD 5.5 Bn back in 2016, and will have a relatively sluggish growth rate. The plenty of cultural buildings in the county may impact the demand for sealants, adhesive and protective coatings used for maintenance and refurbishment works.CLICK TO DOWNLOAD FREE SAMPLE
Our in-depth analysis segmented the global construction chemicals market in the following segments:
Global construction chemicals market is further classified on the basis of region as follows:
Growth Drivers and Challenges
In developing economies, several governments have been taking initiatives for the construction of housing for low-income families. The use of various types of construction chemicals enables designers and builders to come up with sustainable building structures that pose the minimum hazard to the environment. Construction chemicals are used to provide an additional protective layer that shields the building from weathering and climatic changes. In modern days, the demand for construction chemicals has been high as they add aesthetic and functional value to the structural design of a structure.
The some of the restraining factors are the low rate of awareness in developing countries about the benefits of low emission construction chemicals are further challenging the market’s growth. Relaxed environment protection policies in developing and under-developed countries could limit the development of construction chemicals to meet environmental protection objectives.
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