Construction Chemicals Market Trends, Applications, Analysis, Growth, And Forecast To 2027
Construction
Chemicals Market – Market Overview
Construction chemicals are specialty chemicals used
in various construction activities residential, non-residential and renovation.
These chemicals enhances the overall performance of end products used in the
building and construction. The construction chemicals can be broadly classified
into concrete admixtures, waterproofing chemicals, flooring compounds, and
adhesives & sealants among others.
As the name suggests, the market is highly dependent
on the dynamics of construction industry across the globe. On a holistic, the
emerging economies such as Asia Pacific and Middle East is expected to be the
sweet spot for construction chemicals. For instance, India’s vision “Housing
For All by 2022” initiatives is expected to boost the demand. Whereas, regained
stability of housing market and increasing reconstruction activities in
developed economies is expected to drive the demand.
The market consumption trends vary region to region,
for instance, the economic downturn in 2008-09 in the U.S which had an adverse
effect on the housing industry in the country witnessed sharp decline in the
ceramic tile industry. However, the recent stats showing a positive outlook for
housing market in the U.S for 2017-18 with low mortgage rates in the country
beefing up new construction activities. Hence, a positive prospect for the
ceramic tile players operating in the region. Since, the construction chemicals
are majorly consumed in its close vicinity of production.
Construction chemicals are widely consumed among new
residential and non-residential constructions along with the reconstruction and
renovation activities. With the increasing population, urbanization, and industrialization
in the emerging economies such as Asia Pacific and Middles East are stimulating
the construction activities. These are some of the protuberant market
compelling factors for construction chemicals.
Amidst the decline in oil prices in the GCC the
construction activities in the region still remains as a strong indicator for
economic growth in the region. The construction activities is expected to
stimulate in the coming years with an overall capital spending in GCC estimated
at USD 480 billion of which 65% will be towards infrastructure development.
Accounting for the latter mentioned factors it is healthy to assume a pool of
market opportunities for construction chemicals in the Middle East adding value
to the global construction chemicals market as a whole.
Protuberant trend in the Construction Chemicals Market includes.
Furthermore, government initiatives in the emerging economies for
infrastructural developments is expected to stimulate the market for
construction chemicals. For instance, government of India’s proposed spending
in infrastructure accounting for 10% of the country’s GDP in its 12Th five-year
plans will boost the demand for construction chemicals in the country.
Key Players:
BASF SE (Germany), Arkema SA (France), Ashland Inc.
(U.S.), Fosroc International Limited (U.K.), Mapie S.p.A (Italy), Pidilite
Industries Limited (India), RPM International Inc. (U.S.), Sika AG
(Switzerland), The Dow Chemical Co.(U.S.), and W.R. Grace & Company (U.S.)
among others. are some of the prominent players at the forefront of competition
in the Global Construction Chemicals Market and are profiled in MRFR Analysis.
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Construction
Chemicals Market – Competitive Analysis
The construction chemicals is a fragmented market,
the competition is intense among the players operating in this market with
increasing demand for construction chemicals players operating in the market
wants to capture maximum share in the market. Some of the strategies adopted by
the players operating in the market includes, capacity expansions, product
launches and expanding geographical presence.
Industry/
Innovation/ Related News:
August, 2016 – BASF
opened its first production plant in Sri Lanka for the production of standard
and custom-made performance based construction chemicals. The plant was in line
with company’s geographic expansion strategy to cater the increasing demand
from customers in Sri Lanka
April, 2016-,
BASF expanded its construction chemicals division in Russia. This expansion was
in line with expanding the waterproofing chemicals portfolio for the Russian
market.
April, 2016-,
In line with the rapid growth of construction industry in India, BASF launched
three new constructions solutions in the India market. Low-viscosity concrete
admixtures, waterproofing solutions and waterproofing solutions for parking
structure. The solutions launched are cost-effective, durable thus minimising
the resources used in construction and repairs.
February, 2016- Sika AG, opened two construction chemicals plant in Southeast
Asia addressing the increasing construction activities in the region. The
plants are located in Myanmar and Cambodia. This expansion was in line with
company’s strategy 2018, which involves penetration into new markets by opening
new factories.
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