Construction Chemicals Market To Grow at 4.9% CAGR through 2027
Added: (Thu Jan 17 2019)
Future Market Insights has come up with a new publication titled “Construction Chemicals Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027),” which tracks the performance of the global construction chemical market for the projected period of 10-years i.e. between 2017 and 2027. The global construction chemical market is expected to grow on a positive note during the forecast period. In terms of volume, consumption of construction chemicals across the globe was pegged at 23,934 KT in 2016 and is expected to increase at a CAGR of 4.9% (By volume) over the forecast period to reach 40,158 KT by the end of 2027. Growth in the market is expected to be driven by favourable policies and regulations and growing construction activities across the globe. Emphasis on oversea business development and sales, apart from domestic market and customized products for end use industries are the new trends witness in the global construction chemical market.
Global Construction Chemicals Market- Key Takeaways
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The U.S. is estimated to dominate the North America construction chemicals market with remarkable value share in terms of consumption over the forecast period
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Due to growth of the construction industry in countries like Brazil and Mexico, there has also been an increase in the demand for constriction chemicals
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Germany dominates the Western Europe construction chemicals market. This is attributed to the wide use of construction chemicals in industrial, commercial and residential segment
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With more than 65 % of share in the overall construction chemical consumption, China dominated the APEJ market in 2016
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In terms of value and volume, GCC countries are expected to dominate the MEA construction chemical market
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Russia dominates the Eastern Europe construction chemicals market. The country accounted for nearly 44% share in the overall Construction Chemicals consumption in Eastern Europe in 2016
Global Construction Chemicals Market- Forecast by Product Type
On the basis of product type, the global construction chemical market is segmented into water proofing chemicals, protective coating, concrete admixture, adhesives and sealants and asphalt additives. The concrete admixture segment is expected to have a majority share in the global construction chemicals market throughout the forecast period. Increasing rate of urbanization in the Asia Pacific region, coupled with increasing demand from the residential sector and rising infrastructure development, are major driving factors for the growth of the concrete admixture segment.
Global Construction Chemicals Market- Forecast by Application Type
On the basis of application type, the global construction chemical market is segmented into residential, commercial & industrial and infrastructure. The residential and commercial & industrial segments together are expected to hold a major share of the global construction chemicals market throughout the forecast period. The sale of construction chemicals for residential applications is expected to be valued at US$ 24.63 Bn by 2027 end, registering CAGR of 5.8% in terms of value during the forecast period.
Global Construction Chemicals Market- Forecast by Region
This report has covered seven regions namely, North America, Latin America, Eastern Europe, Western Europe, APEJ, Japan and MEA. With 45.3% revenue share, APEJ region is expected to dominate the market in 2027. Rising per capita income and rapid urbanisation & infrastructure development in APEJ are the major driving factors for the growth of the construction chemicals market.
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Global Construction Chemicals Market- Key Players
Some of the key players operating in the global construction chemical market are BASF SE, GCP Applied Technologies, SIKA AG, The Dow Chemical Company, RPM International Inc., Ashland Inc., MAPEI, Akzo Nobel NV, Arkema SA, Fosroc, Covestro AG, HB Fuller Company, Lanxess AG, The 3M COMPANY, Wacker Chemie AG, Huntsman Corporation, Momentive, Performance Materials, and Guangzhou Jointas Chemical Co., Ltd.
Submitted by:Nishant Mishra