The global construction chemicals market was valued at USD 28,631.03 million (in terms of revenue) and 12,703.68 kilo tons (in terms of volume) in 2016. The market is expected to reach a value of USD XX million and XX kilo tons by 2022, with an estimated CAGR of 7.14%, and 4.92%, respectively, during the forecast period (2017-2022).
Construction chemicals are primarily added to asphalt concrete or asphalt while being used in repair and new construction activities in various construction areas.
The market is driven by factors such as increasing construction activity, increasing adoption of innovative construction procedures, and development plans of governments to spur further growth. However, the market faces certain drawbacks, namely the lack of awareness and knowledge of construction chemicals in developing regions.
The global construction chemicals market has been segmented by product type and application. By product type, the market has been segmented into the following:
By application, the market has been segmented into the following:
In 2016, in terms of revenue the residential sector dominated the global market with a market share of around 30%
The market has also been segmented by geography into Asia-Pacific (APAC), North America, Europe, South America and Middle East and Africa (MEA). In 2016, in terms of volume Asia-Pacific dominated the market with a share of XX%. Improving economic conditions in Asia-Pacific have raised the financial status of consumers; thus, boosting the demand for buildings and other infrastructural activities in the region (as the region is becoming a new industrial hub), consequently making Asia-Pacific region of immense potential and opportunities.
Opportunities and Major Players
The recovering construction industry in Europe is expected to offer numerous opportunities for the growth of the European construction chemicals market, in turn, propelling the market’s growth. Some of the major companies dominating the global construction chemicals market with their products, services and continuous product developments are as follows:
Key Deliverables in the Study