Construction Chemicals Market Growth and Forecasts, 2024

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Construction Chemicals Market Share, Size, Analysis, Growth, Trends
and Forecasts to 2024 | Hexa Research
The global construction chemicals market is likely to attain USD 67.61 billion by 2024. It is
projected to observe significant gains over the forecast period (2016-2024). The market is
driven by rising demand from several end-use industries comprising residential and nonresidential & infrastructure. Brisk move towards urbanization along with escalating focus
of infrastructure growth in promising economies will stimulate the demand further.
The worldwide construction chemicals market can be segmented by products, end -users,
and regions. Products are concrete admixtures, concrete sealants, concrete adhesives, and
protective coatings. Concrete admixtures segment contributed for above 64.7% of the total
market volume shares in 2015.
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They are extensively used in concrete to improve its physical and chemical properties and
are utilized in all types of constructions for instance non-buildings, residential, and nonresidential infrastructure. Construction chemicals develop the power of the building
structure. It provides superior durability, chemical resistance, and noticeably lowers the
water and cement necessity.
End-users in the market encompass residential and non-residential & infrastructure. Nonresidential & infrastructure sector accounted more than 60% l revenue shares in 2015. In
this sector, construction chemicals find usage in manufacturing and industrial buildings,
composition of warehouses, hotels and retail, and office spaces.
Main regional segments in the global construction chemicals market are Asia Pacific, North
America Europe, Latin America, and the Middle East & Africa (MEA). Asia Pacific was the
leading market for construction chemicals in 2015. It was valued close to 45% in terms of
value in the same year. India and China are the chief countries in this region accounting for
above 50% of the total revenue.
The worldwide construction industry is gradually recovering post the decline in 2008 and
2009. Several European construction companies achieved substantial shares in 2015. The
expansion of the construction chemicals industry is directly linked with the intensification
of construction market at the global scale.
Market participants are mounting their customer base through strategies counting
exhibitions and new product launches. U.S. based Dow Chemical Company is a key
participant in this market. The company manufactures an extensive variety of adhesive and
sealant products. Other top most players in the market include FOSROC Chemicals India
Private Limited, BASF SE, Pidilite Industries Limited, Dow Chemical Company, W.R. Grace &
Company, and Sika AG.
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The global construction chemicals market size is expected to grow significantly over the next seven years on account of its growing requirement from various sectors including construction & infrastructure.