Construction chemicals, as the name suggests, are chemicals which are closely related with the construction industry. The chemicals that are used in the construction industry are asphalt additives, concrete mixtures, protective coatings, adhesives, and sealants. The benefits of use of construction chemicals are a plenty such as better chemical resistance, durability, high strength, less use of essentials such as water and cement, and resistance against unfavorable climatic conditions. To add to this, construction chemicals give a pleasant look to the structure, while not affecting the quality of the construction in any way. Construction chemicals market comprises mainly of residential, industrial, commercial, and infrastructure projects.
Construction chemicals market is segmented into asphalt additives, concrete admixtures, protective coatings, adhesives, and sealants. Among these, concrete admixture had 50% share of the construction chemicals market in 2013. By volume, concrete admixtures market is projected to grow at a CAGR of 7.8% from 2014 to 2020.
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Concrete admixtures are substances which are added to concrete mix to work with the setting time and other aspects of fresh concrete. Asphalt additives are another class of construction chemicals which are used for surfacing purposes such as for roads, airports, and other places. Additives and sealants are primarily meant for maintenance of old structures. Last but not the least, protective coatings are also used under strict safety regulations.
Construction chemicals market is projected to have good opportunities by 2020. One of the major reasons for growth in the construction chemicals market are the favorable government initiatives in BRIC countries such as improved infrastructure to overcome the housing deficit in these countries. Another reason for increased growth of the construction chemicals market in coming years is consumer bend towards green buildings combined with strict safety regulations. However, slow growth of construction industry in developed countries and lesser knowledge of construction chemicals in emerging nations may adversely affect the construction chemicals market in these regions in the projected period.
The construction chemicals market is also segmented on the basis of products which are predominantly used in different regions of the world. The rise in construction of infrastructure in emerging economies is expected to drive the demand for asphalt admixtures. The rapid urbanization in BRIC countries is also expected to accelerate the demand for asphalt additives. The additive and sealants market is expected to boost owing to repair of old structures in Europe and North America. The protective coatings market is anticipated for growth in the forecast period owing to stringent safety regulations in developed countries.
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The construction chemicals market which was valued at US$21.12 billion in 2013 is projected to reach US$37.68 billion by 2020. The projections estimate the construction chemicals market to grow at CAGR of 8.7% between 2014 and 2020. In terms of volume, China emerged as the leader accounting for 40% of the construction chemicals market in 2013.This can be attributed to increasing population combined with rapid urbanization in China. This was followed by Europe, and the construction chemicals market is expected for slow growth for the forecast period. The Rest of Asia, predominantly India and Japan are expected drive the construction chemicals market owing to development of the construction industry.
The global construction chemicals market is led by some of the big players such as BASF SE, Sika AG, W. R. Grace & Co., RPM International Inc., Fosroc International, Bostik Limited, Henkel AG & Co. KGaA, AkzoNobel Chemicals AG, The Dow Chemical Company and MAPEI S.p.A. An insight in to the profiles of these players can help businesses craft optimal strategies to gain competitive advantage and increased share in the construction chemicals market.
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