Fior Markets launched a study titled “Global Construction Chemical market by Type (Concrete Admixture, Construction Adhesives, Construction Sealants and Flame Retardants), End User (Residential, Non-Residential), Region, Forecast 2018-2025.
The global construction chemical market is expected to grow from USD 36.35 billion in 2017 to USD 64.46 billion by 2025 at a CAGR of 7.42% during the forecast period from 2018-2025. The key contributing factors to the growth are rising urbanization and infrastructure in developing economies especially India and China.
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Concrete admixture segment held the largest market share of 36.78% by revenue in 2017
Type segment is subdivided into concrete admixture, construction adhesives, construction sealants and flame retardants. Concrete admixture segment dominated the demand for construction chemicals with the largest market share of 36.78% by total revenue in 2017. Construction adhesives and sealants segment is projected to attain a robust due to their suitability for waterproofing the concrete structures. Massive spending on residential and commercial infrastructure development, proving to be a major propelling force behind the demand for construction chemicals.
Residential segment is expected to grow at a CAGR of about 8.42% from 2018 to 2025
End user segment is categorized into residential and nonresidential. Residential segment is projected to report growth rate of 8.42% CAGR during forecast period on account of increasing acceptance of construction chemicals in construction activities and massive spending that is being undertaken in developing economies for the purpose of residential housing and redevelopment projects. Nonresidential segment is forecasted to report steady growth over 2018-2025 due to increasing industrialization and emphasis on infrastructure development in India and China leading to increased demand for construction chemicals.
Regional Segmentation Analysis:
The market is analyzed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific region dominated the global construction chemicals market with the market size of USD 16.56 Billion in 2017 on back of rapid urbanization and infrastructure development in India and China. Middle East Region is also slated to report massive demand for Construction Chemicals due to ongoing construction activities in Saudi Arabia, UAE and Qatar. North America and Europe are projected to grow at sluggish pace due to their stagnant economies. South America region is also expected to generate robust demand for construction chemicals due to massive housing development projects that are to be undertaken in Brazil and Argentina.
The key players in Construction Chemicals market are BASF SA, Dow Chemicals, Pidilite Industries, Arkema S.A., Fosroc Chemicals, Ashland Inc., Mapei SpA, Sika AG, WR Grace and Company, RPM International Inc, L.M. Scofield, Bostik Limited, Henkel AG, AkzoNobel Chemicals AG, KGaA among others.
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