The global construction chemicals market (henceforth referred to as ‘the market’) was valued at USD XX million (in terms of revenue) and XX 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 XX%, and XX%, respectively, during the forecast period (2017-2022).
Construction chemicals, also known as specialty chemicals, are chemical compounds that are added in construction materials, such as cement and concrete. These compounds are added at the construction site itself to improve performance, enhance workability, protect & hold construction material and finished structures, such as that they are strong and bonded well together. In addition, these chemicals also aid in minimizing the amount of water and cement required during the construction process. Construction chemicals undergo physical (from melt to solidify) & chemical changes when being applied.
The strength of concrete is considerably improved with the use of construction chemicals. In addition, with the growing usage of these chemicals, the obligatory diameter of the pillar to support 100 metric tons has reduced drastically from 100 cm to 10 cm. Owing to their ability to enhance performance & workability with constructional materials and minimize the use of construction materials, construction chemicals are becoming an integral aspect of construction activities in various sectors, such as residential, industrial and commercial.
Major factors driving the market’s growth are:
A major factor limiting the market’s growth is:
The 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 29.39%.
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 44.49%. 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.
Furthermore, 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: