Covina, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Construction Chemicals are used by civil repair and construction industries to enhance quality & strength of concrete, to protect concrete structures and to provide water-tightness. Concrete curing, concrete hardeners, epoxy coating, ready mix plaster, protective & decorative coating, polymer modified mortar and mold releasing agent.
Rapidly growing population and increased construction activities especially in residential sector has provided lucrative opportunities in target market growth. Further, rising adoption of new technology, and advanced construction procedures are some of the factors driving the growth of the market. Furthermore, rising government initiatives in development of infrastructure and housing projects such as buildings, tunnels, dams, bridges, and roads is expected to fruitful the demand for Construction Chemicals market growth over the forecast period.
Key Highlights:
- In June 2021, JSW Cement (India) entered into construction chemical sector with launch of its green product range ‘Enduro Plast’ readymix plaster, ‘Duraflor’ floor hardner, and ‘Krysta Leakproof’ integral crystalline waterproofing compound. The company has established across 0.3 million-ton manufacturing facility in Ballari in Karnataka to produce range of its construction chemicals.
Analyst View:
Construction chemicals industry plays a major role by providing solutions to civil engineers to build strong and long-lasting structures which can last for years without any risk and fear which has given rise in demand for market growth. The factor such as rising disposable income boosting people to invest more for well residential structures which is further anticipated to increase the demand for Construction Chemicals market growth.
- FORMAT:(PDF)
- NO OF PAGES:168
- BASE YEAR:2023
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Key Market Insights from the report:
- By type the construction chemicals market classified into concrete admixture, construction adhesive, construction sealant and flame retardant
- Based on by end-user the construction chemicals market classified into residential, public space, and commercial.
- By region, The Asia Pacific expected to dominate the target market. Owing to the rising population, an increase in middle-class incomes, and urbanization. China dominates the regional market for construction chemicals globally due to higher production for construction chemical.
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Demand for Construction Chemicals:
- Infrastructure Development: Demand for construction chemicals has been driven by increasing infrastructure development projects worldwide, including roads, bridges, airports, and public transportation systems.
- Residential and Commercial Construction: The growth of the real estate and construction sectors has led to higher demand for construction chemicals in residential and commercial building projects. This includes the use of concrete admixtures, waterproofing chemicals, and adhesives.
- Urbanization: Rapid urbanization has created a need for modern and durable construction materials and techniques, leading to increased use of construction chemicals for enhanced performance and longevity of structures.
- Green Building Trends: The growing focus on sustainability and environmental regulations has led to the demand for eco-friendly construction chemicals, such as low-VOC adhesives and sealants.
- Repair and Rehabilitation: Aging infrastructure and buildings require maintenance and repair, further driving the demand for construction chemicals like repair mortars and protective coatings.
Recent Developments in the Construction Chemicals Market:
- Innovative Products: Manufacturers have been introducing innovative construction chemical products that offer improved performance, durability, and sustainability. This includes self-healing concrete, smart coatings, and advanced waterproofing solutions.
- Sustainability Initiatives: Many companies in the construction chemicals sector have been focusing on sustainability by developing products with reduced environmental impact and obtaining certifications like LEED (Leadership in Energy and Environmental Design).
- Digitalization: The construction chemicals industry has been embracing digital technologies for product development, supply chain management, and customer engagement. This includes the use of data analytics and IoT solutions for monitoring construction materials' performance.
- Global Expansion: Some construction chemical companies have been expanding their presence in emerging markets, where there is significant growth potential due to increased construction activities.
- Acquisitions and Partnerships: Strategic acquisitions and partnerships have been common in the industry, allowing companies to broaden their product portfolios and enter new markets.
- Regulatory Compliance: Companies have been investing in research and development to ensure their products meet evolving regulatory standards, particularly those related to safety and environmental protection.
- COVID-19 Impact: The construction chemicals market, like many industries, faced challenges during the COVID-19 pandemic. However, it also saw opportunities, especially in the healthcare and hygiene segments, where demand for sanitization and disinfection products increased.
The prominent player operating in the Construction Chemicals market includes:
- BASF SE
- W.R. Grace
- RPM International
- Sika A.G.
- Fosroc International
- The Dow Chemical Company
- Arkem S.A.
- Ashland Inc
- Mapei S.p.A
- Pidilite Industries.
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Questions by Construction Chemicals Market:
- What are the key market trends and market dynamics?
- Who are the major players in the market and what is their market share?
- What is the competitive landscape like in the market?
- What are the major drivers and restraints affecting the market?
- What are the growth opportunities in the market?
- What are the regional and local market conditions and consumer behavior?
- What is the market size and growth forecast for different regions and countries?
- What is the impact of government regulations and policies on the market?
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