Current and Future Scenario of the Construction Chemicals Market

18 November 2019 - Million Insights Market Research has published a new report titled ‘Construction Chemicals Market – Global Industry Analysis, Size, Share, Growth, and Forecast, 2018–2026.’ Construction Chemicals market report helps analyze trends and significant developments in the industry.

The global Construction Chemicals Market is anticipated to reach USD 67.61 billion by 2024, expanding at a 6.3% CAGR during the forecast period. Rising requirements from numerous end-use industries including residential & non-residential and infrastructure is expected to drive the market growth over the next nine years.

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On account of stricter environmental regulations, the market participants are focusing on research and development activities to come up with new products complying with guidelines established by various regulatory bodies. Application of biochemical as construction chemicals is at its initial stage, that could prove to be a revolutionary technology in future. Emerging countries such as India and China are presumed to fuel the market owing to various upcoming infrastructure projects under development. China was the major construction market accounting for over 20.0% of the global share in the year 2015.

In terms of market volume share, concrete admixtures accounted for 64.07% in the year 2015 on account of its wide usage in concrete to strengthen its chemical and physical properties. Its applications include all types of constructions such as residential and non-residential infrastructure. The product improves the strength of the construction by providing strong durability, enhanced durability, chemical resistance and considerably lowering cement and water requirement.

Market Segment:

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

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With a market share over 45%, the Asia Pacific region was valued as the largest market for the product globally in 2015. India and China are the key markets in the region contributing over 50% of the total regional market size. The growth of construction chemicals market is directly associated with the development of construction sector.

Asia is presumed to witness an investment of about USD 8.0 trillion by the year 2020 according to the Asia development bank. Growing urbanization trend and increasing disposable income of population in countries such as India, Vietnam and China has generated a necessity for better transport systems, water & sanitation facilities and buildings. Further, numerous international investors are focusing on re-allocating their capital in APAC.