The global construction chemicals market was valued at USD XX million in 2016 and is expected to reach USD XX million by 2021, growing at a CAGR of XX% during the forecast period (2016-2021).
Construction chemicals belong to a niche segment in the specialty chemical segment. They are primarily used in enhancing the strength of the structure, improve shelf-life, and provide additional protection from environmental hazards. Some of these chemicals also help in minimizing the amount of water and cement required during the construction process.
A number of factors, such as consistent innovations and technological advancements are driving this market. On the other hand, the price of additives and lack of awareness could act as restraints for the construction chemicals market.
In the report, the global construction chemicals market has been segmented by chemical type and application, which are further segmented as follows:
Concrete & cement admixtures market has the largest share of more than 30% of the total market share. The major reason for the growth of this market is the overall high construction activity, throughout all regions.
The market has also been geographically segmented into North America, Europe, Asia-Pacific, the Middle East &Africa and South America. Asia-Pacific is the largest region, by demand, owing to the increasing commercial construction activities in countries such as China and Japan.
Opportunities and Major Players
The major opportunities for the construction chemicals market are the rising economic conditions of the middle-class population in developing countries, coupled with the recovery of the construction sector in Europe.
Some of the major players in the global construction chemicals market include:
Key Deliverables in the Study