According to the report, global demand for Construction Chemicals market was valued at approximately USD 33.4 billion in 2019, and is expected to generate revenue of around USD 48.9 billion by end of 2026, growing at a CAGR of around 5.6 % between 2020 and 2026.
Construction Chemicals Market
According to the report, the global demand for the Construction Chemicals market was valued at approximately USD 33.4 billion in 2019 and is expected to generate revenue of around USD 48.9 billion by end of 2026, growing at a CAGR of around 5.6 % between 2020 and 2026.
In Global Construction Chemicals Market Report, Construction chemicals are used to hold construction materials together. They are blended with concrete, cement, or other construction material. These chemicals are blended with proper quantities along with construction materials in order to fulfill the aesthetic, design, and functional requirements of civil structures. Construction chemicals play a vital role in chemical industries for the overall development of infrastructure activities. Construction chemicals are used to build structures to enhance their life and provide additional protection from environmental hazards. These chemicals reduce the cement and water quantities usually needed during construction. These chemicals are broadly used in infrastructural, residential, commercial, and industrial projects.
Increasing population and economic stability in many countries influenced people for commercial, public, and residential building; this is expected to boost the global construction chemicals market. In addition, rising urban population is anticipated to foster the global market in future. Rising disposable income encouraging people to invest more for better residential structures may drive the global construction chemical market growth. Growing demand for dams, buildings, tunnels, bridges, and roads for the improvement of infrastructure facilities across the world further drives the global market.
The global construction chemicals market is classified on the basis of types as flame retardant, construction adhesive, concrete admixture, and construction sealant. Based on applications, the global market is fragmented as residential, commercial, and public building. Of these, residential building is the leading segment in the global market. This is expected to maintain its dominance in the market owing to increasing number of residential projects.
The global construction chemicals market is fragmented based on geography as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific is the leading player in the global market for construction chemical products. This trend is followed by Europe and North America, as they possess large customer base for infrastructure activities. China is the dominating region for construction chemicals globally owing to higher production for construction chemical and is expected to maintain its dominance in coming future. In addition, growth in commercial and residential buildings with advanced structure is fostering the global construction chemicals market growth in the coming years. Rising interest of people in developed constructions in developing countries such as Brazil, Australia, Russia, and India further boosts the global market growth.
Major players in the global construction chemicals market are BASF SE, Mapei S.p.A, Arkem S.A., The Dow Chemical Company, Fosroc International, and Ashland Inc. Other players include W.R. Grace, Pidilite Industries, RPM International, and Sika A.G.
Global Construction Chemicals Market: Type Segment Analysis
Global Construction Chemicals Market: Application Segment Analysis