The global construction chemicals market growth is primarily driven by technological advancements, the rise of the construction industry, and increasing demand in the Asia-Pacific region.
Concrete Admixtures to Dominate the Market Over the Forecast Period
Concrete admixtures are components that are included in the concrete mixture either before or during the process of mixing. Concrete admixtures help in reducing concrete construction cost by modifying the hardened concrete properties, thus guaranteeing better quality during mixing, placing, transporting, and curing. This permits users to overcome concrete operations-related emergencies. As per the European Standards, the allowed dosage of admixtures to concrete shouldn't be more than 5%, by cement weight. Nonetheless, in low dosage conditions, the quantity of admixture should not be over 0.2% of the cement weight.
The admixture is usually included in small quantities that range from 0.005% to over 2%, by cement weight. However, admixtures overuse has harmful effects on the properties and quality of concrete. Function-wise, admixtures are classified into many types, including retarding, accelerating, water-reducing, air-entraining and plasticizing amongst others. The admixtures of the special category have multiple functions like corrosion inhibition, shrinkage reduction, workability enhancement, damp proofing, bonding and colouring. There has been a rise in the requirement for concrete admixture and that too at a rapid rate. Manufacturers have started taking actions by responding to this rise in demand. For instance, in March 2019, BASF announced Master X-Seed STE admixture for the concrete industry. The product was specifically introduced for the Asia-Pacific region, as it escalates the performance characteristics and concrete strength’s development.
Asia Pacific Region is the Biggest Market for Construction Chemicals
The Asia-Pacific has the biggest construction sector in the world which is growing at a meteoric rate, owing to an increase in middle-class incomes, the rising population, and rapid urbanization. entry of major players from the European Union into the profitable Chinese market and growing infrastructure construction activities has further stimulated the expansion of the global construction chemicals market size.
In 2016, China’s thirteenth Five Year Plan was initiated as it was an integral year for the country’s procurement, engineering and construction (PEC) industry. Additionally, the country got into innovative business models internationally and domestically in 2016. In spite of the construction sector slowing down since 2013, it is still a primary contributor to the nation’s GDP. China’s construction industry developed rapidly in 2017 owing to the push provided by the central government for investments in infrastructure as a medium to sustain economic growth. Moreover, restraints on foreign investment for high-end hotels, office buildings, international exhibition centres, land development, and operation and construction of large adventure and theme parks have also been lifted. The growth in the transportation and infrastructure sectors is anticipated to spur the global construction chemicals market growth in China throughout the forecast period.
Key market players include SIKA AG, Chembond Chemicals Limited, RPM International Inc., era-Chem Private Limited, MAPEI corporation, Fosroc International Ltd., Bostik Inc., H.B. Fuller, Henkel AG & Company, BASF SE, The Dow Chemical Company, Pidilite industries.
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Global Construction Chemicals Market Segmentation:
• Concrete Admixtures
• Construction Adhesives
• Construction Sealants
• Protective Coatings
• Non-residential and Infrastructure
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
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FutureWise Key Takeaways:
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global construction chemicals market by product, by application and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)— North America, Asia Pacific, Europe, Latin America and Middle East & Africa
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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