U.S. Expected to Remain Growth Engine of Construction Chemicals Market during the Forecast Period 2014 – 2020
Construction chemicals are specialty chemicals that are used in buildings and other construction structures to increase their life as well as impart additional protection from environmental hazards. Furthermore, construction chemicals are used to accelerate the construction process as well as impart properties that help meet the aesthetic, functional and design requirements of civil structures. Construction chemicals include a wide range of products such as asphalt additives, concrete admixtures, adhesives, sealants and protective coatings. These chemicals are widely used in the construction of residential, industrial, commercial and infrastructure projects.
Growth in the construction industry in BRICS countries due to favorable government initiatives to improve infrastructure as well as overcome the housing deficit is anticipated to provide high opportunities for the construction chemicals market by 2020. Construction chemicals such as asphalt additives, concrete admixtures, adhesives, sealants and protective coatings provide sustainable solutions to the construction industry. Construction chemicals assist design professionals, building owners and concrete producers in constructing new buildings and restoring old structures with highest standards and minimum hazards to the environment. Furthermore, growing consumer preference for green buildings coupled with presence of stringent safety regulations is expected to drive the construction chemicals market in the near future. Sluggish growth of the construction industry in developed countries coupled with low awareness of the benefits of construction chemicals in emerging countries is anticipated to hamper the overall growth of the market during the forecast period. However, development of bio-based construction chemicals is estimated to offer significant growth opportunities for the market in the next few years.
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With over 50% share, concrete admixture was the largest segment of construction chemical in 2013. In terms of volume, the global concrete admixtures market is likely to grow at a CAGR of 7.8% between 2014 and 2020. Concrete admixtures are additions to the concrete mix that help in controlling the set time and other aspects of fresh concrete. Thus, rising construction of new buildings in emerging economies is expected to boost the overall demand for concrete admixtures in the near future. Asphalt additives are composite materials that are commonly used in surfacing of roads, parking lots and airports. Thus, growth in urbanization, especially in BRICS countries, is projected to augment the overall demand for asphalt additives. Adhesives and sealants are primarily used in the maintenance of old structures. The need for repairing old structures in Europe and North America is anticipated to boost the growth of adhesives and sealants market by 2020. Stringent safety regulations, especially in developed countries, are estimated to enhance the growth of the protective coatings market during the forecast period. In terms of revenue, the protective coatings market is likely to be valued at USD 8.52 billion by 2020.
China emerged as the leading consumer of construction chemicals in 2013. Demand for construction chemicals in the country has increased primarily due to rising urbanization coupled with growth in government investments in infrastructure. In terms of volume, China accounted for 42.0% of the global construction chemicals market in 2013. China was followed by Europe, which is expected to be the next major consumer of construction chemicals. Sluggish growth of the construction industry due to high unemployment, and debt and financial fragmentation is estimated to affect the overall demand for construction chemicals in Europe. Rest of Asia Pacific is projected to be one of the emerging markets for construction chemicals. Growth in the construction industry, especially in India and Japan, is anticipated to boost the overall demand for construction chemicals in the region. North America is anticipated to exhibit sluggish growth in the overall construction chemicals market during the forecast period. Olympic 2016, which will be held in Brazil, is likely to boost the overall construction industry in Rest of the World. Thus, demand for construction chemicals is projected to increase rapidly in the region.
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The global construction chemicals market is consolidated in nature. Major players in the construction chemicals market include BASF SE, Sika AG, W.R. Grace, RPM International Inc., The Dow Chemical Company and MAPEI S.p.A
Table of Content
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Construction Chemicals – Industry Analysis
Chapter 4 Construction Chemicals Market – Product Segment Analysis
Chapter 5 Construction Chemicals Market – Regional Analysis
Chapter 6 Company Profiles
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