Construction Chemicals Market Analysis, trends, covid-19 impact, Overview, Growth and forecasts
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 Size 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 Analysis 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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