The global construction chemicals market was valued at $41.7 billion in 2015, and it is expected to grow at a CAGR of 5.7% during 2016 - 2022. The major factors driving the growth of the global market include growing infrastructure requirements in developing economies, improving economics of construction, and increasing urbanization of population and rapid industrialization in developing economies.
Moreover, the increasing awareness about construction quality and technological advancements, and growing number of new projects for housing, commercial spaces, and public infrastructure are further boosting the growth of the construction chemicals market. Asia-Pacific was the largest market for construction chemicals, accounting for over 46% market share globally in 2015. The growing domestic demand for commercial and residential buildings, owing to high population and increasing household income is driving the growth of the market in the region.
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Based on type, the global construction chemicals market has been segmented into Concrete and Mixture, Asphalt Additives, Adhesives and Sealant, Protective Coatings and Others. The protective coating segment accounted for the largest market share among the other types in the global construction chemicals market in 2015. The major factors driving the growth in consumption of the protective coating segments include growing demand for end-user industries, such as construction, oil & gas, automotive, aerospace, and product finishes. The growing need for infrastructure is driving the consumption of protective coatings in the construction industry.
Globally, Europe was the second largest market for construction chemicals market and held 23% share of the global market. In 2015, the European construction chemicals market was valued at $9.6 billion; and it is expected to reach $11.5 billion in 2022, growing at a CAGR of 3% during forecast period. The growth of the European market is mainly hampered by the Eurozone crisis; however, the market is slowly recovering from it. Latin America is one of the faster growing market for the construction chemicals market. The Latin American construction chemicals market was valued at $3.3 billion in 2015. Latin America is expected to witness growth at a CAGR of 5.9% during forecast period. Rio Olympics 2016 is the one of the reason for growth in construction chemicals market in the region.
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The information and data in the publication “Global Construction chemicals Market Size, Share, Development, Growth and Demand Forecast to 2022”, represents the research and analysis of data from various primary and secondary sources. A bottom up approach has been used to calculate the market size in terms of value. P&S Market Research analysts and consultants interacted with leading companies of the concerned domain to substantiate every value of data presented in the report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
Some of the major manufactures of construction chemicals include BASF SE, Akzo Nobel Chemicals AG, Ashland Inc., Antas Chemical Company Limited, 3M Company, Bostik Inc., Albemarle Corporation, The Dow Chemical Company, Evonik Industries, Sika A.G., and many more.
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