New York, NY, Dec. 02, 2020 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Construction Chemicals Market By Product (Concrete Admixture, Concrete adhesives, and Concrete sealants) and By End-user (Non-residential & infrastructure and Residential): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”.
According to the research study, the global Construction Chemicals Market was estimated at USD 37 billion in 2019 and is expected to reach USD 62 billion by 2026. The global Construction Chemicals Market is expected to grow at a compound annual growth rate (CAGR) of 7.5% from 2020 to 2027.
Global Construction Chemicals Market Growing On The Back Of Growing Urbanization Of The Construction Industry In The Emerging Economies Due To The Rapid Migration Of People Into Developing Cities.
Construction chemicals are specialty chemicals that are added to construction materials such as concrete, cement, coatings, and other materials to enhance the properties and functionality such as strength, durability, and environmental impact of construction materials. Construction chemicals aid in setting up sustainable infrastructure along with energy conservation in the construction industry to protect from environmental hazards and increase the durability of the buildings. One of the major applications of construction chemicals is in improving the performance of concrete and providing benefits such as usage of less water and concrete during construction activities.
Browse through 22 Tables & 86 Figures spread over 180+ Pages and in-depth TOC on “Global Construction Chemicals Market: By Type, Applications, Industry Size, Share, Analysis, and Forecasts, 2020–2026”.
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Construction chemicals are used during the construction of residential and commercial buildings and infrastructures. Construction chemicals are used for the construction of commercial spaces such as hospitals, offices, educational institutions, hotels, etc., in a variety of industries such as cement, iron and steel, petroleum, etc., in infrastructure projects such as roads & bridges, railways, airports, etc., and the residential and public space sectors such as housing societies, houses, and statues and monuments. Based on recent trends, demand for concrete admixtures is on the rise. In March 2019, BASF SE launched a new admixture for the concrete industry called Master X-Seed STE. This product improves performance characteristics and strength development of the concrete and was specifically introduced in the Asia Pacific region. In June 2016, BASF SE established a new plant of concrete admixtures in Vietnam. This plant will let the company meet the increasing demands of the end-user industries for high-quality construction chemicals in Vietnam.
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The growing global construction industry in the developing countries and the increasing new construction projects along with the rehabilitation and repair activities is anticipated to drive the construction chemicals market share in the upcoming years. There is a high demand for construction chemicals from emerging economies such as India, South Korea, and China due to their growing population and rising construction projects associated with it. However, construction chemicals may contain dangerous VOCs such as acetone, formaldehyde, and butanol that are released through solid wood, floor wax, acoustic ceiling tile, and caulking sealant. Hence, government regulations on construction chemicals due to VOC emissions are anticipated to restrain the market growth.
Top Market Players
Some of the leading and top construction chemicals companies in the global construction chemicals market include 3M, Ashland, Bolton Group, Chryso SAS, Conmix Ltd, Fosroc Inc., GCP Applied Technologies Inc., LafargeHolcim, MUHU Construction Materials Co. Ltd, RPM International Inc., Thermax Global, Arkema Group, BASF SE, Cemetaid (N.S.W.) Pty Ltd, CICO Group, DuPont, Franklin International, Henkel AG & Co. KGaA, MAPEI SpA, Nouryon, Sika AG among others.
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Analysis on the Basis of Key Market Segments: Construction Chemicals Market
Based on type, the global construction chemicals market can be segmented into the concrete admixture, concrete adhesives, and concrete sealants, with the 'concrete admixture' category having the leading market share of about 39 percent. On the basis of application, the market is being bifurcated into non-residential & infrastructure, and residential.
Infrastructure is the most lucrative chemical building market in the world. Despite the development and urban planning that drives the need for sustainable infrastructure and environmentally friendly goods; this is the first choice for new entrants. Likewise, chemical products, such as concrete mixtures, help to minimize the amount of cement and water normally required during construction. Construction chemicals are needed to meet the needs of the growing world population and of the urbanization in question. Increasing demands for earthquake-resistant structures around the Asia Pacific Fire Ring and North and Latin America's East Coast as well as Europe's and Asia Pacific's Alpide Belt would boost market demand for robust and weather-resistant structures and infrastructures.
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On the basis of Product, concrete admixture dominated the market in 2019, the concrete admixtures are components added to the concrete blend before or during the blending. This segment is forecasted to witness significant growth over the forecast period owing to its properties such as changing the characteristics of hardened concrete, thus improving its performance during the process of mixing, healing, carrying, etc.
Based on the end-user, the residential segment held the leading market share in 2019 for the global construction chemical industry. This segment is projected to grow over the forecast period owing to the rising demand for residential housing in rural as well as the urban area
Analysis on the Basis of Key Regions: Construction Chemicals Market
In terms of geography, among regions such as North America, Europe, Latin America, and Middle East & Africa, the Asia Pacific region held a prominent market share of around 40 percent and is anticipated to grow with the fastest CAGR in the forecast years.
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This report segments the Construction chemicals market as follows:
Global Construction chemicals Market: By Type Segmentation Analysis
- Concrete Admixture
- Concrete adhesives
- Concrete sealants
Global Construction chemicals Market: By Application Segmentation Analysis
- Non-residential & infrastructure
- Residential
Also Read, Construction Chemicals Market Press Release
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