Construction Chemicals Market Detailed Analysis and Huge Growth by Top Players | BASF SE, Sika Group, Arkema, Dow Chemical

Construction Chemicals Market Detailed Analysis and Huge Growth by Top Players | BASF SE, Sika Group, Arkema, Dow Chemical

Global Market Insights added a detailed construction chemicals market research study across the global, regional and country level. The report provides 360° analysis from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global market and estimates the future trend of the industry based on this detailed study.

Reports estimate that global construction chemicals market size will surpass an annual valuation of over US$50 billion by 2024. Explained below are a few notable factors augmenting the product demand over the next few years.

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  • Rapid infrastructure development in BRICS countries

With rapid growth in urbanization, the global construction sector has experienced significant growth in recent decades. The rate of infrastructure development and refurbishment has been particularly higher in BRICS nations. The global construction industry was estimated to be worth more than US$8 trillion in 2015, with China alone accounting for a valuation of US$1.7 trillion. Considering the current rate of population growth, BRICS countries are expected to invest substantially in development of sustainable infrastructure in the upcoming years.

Meanwhile developed regions are likely to invest in repair, maintenance, and renovation of existing residential and commercial infrastructure, which will create a need for adhesives, sealants, protective coatings, and other chemicals.

  • Robust demand for asphalt modifiers and concrete admixtures

The demand for asphalt modifiers is projected to grow at a healthy 9% CAGR through 2024. These modifiers are extensively use in construction of roads, highways, and bridges. Growing investment in improvement of road infrastructure mainly in developing countries will certainly augment the product demand.

On the other hand, concrete admixtures are expected to capture more than 50% revenue share of construction chemicals industry by 2024. They can be classified into mineral and chemical admixtures. Mineral concrete admixtures mainly comprise of rice husk ash, silica fumes, fly ash, furnace slag, and granulated glass. Chemical admixtures include normal plasticizers, superplasticizers retarding agents, accelerating agents, air-entraining agents, and waterproofing admixtures.

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  • Rising infrastructure investments in Asia Pacific

Asia Pacific has experienced one of the fastest growth rates in urbanization and industrialization across the globe and the regional construction chemicals market is projected to witness a CAGR of 9% through 2024, exceeding a valuation of more than US$14 billion. Developing APAC countries including China, India, Japan, Indonesia, Malaysia, and Vietnam are expected to invest heavily in expansion of residential and commercial infrastructure. The need for sustainable infrastructure development will certainly augment the demand for high-quality chemicals and materials.

Construction chemicals industry in North America was valued at US$3.5 billion in 2015 and is anticipated to grow substantially in the near future. However, the growth will be slower compared to Asia Pacific and Europe due to a well-established construction industry.

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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

 

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