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Construction Chemical Market: Current Scenario and Forecast 2019-2025

Global Construction chemical market was valued at US$ 39.0 billion in 2018. The sector is expected to witness a CAGR growth of 7.10% during the forecast period 2019-2025, to reach a market size of US$ 62.7 billion by 2025.

April 2020 | Material and Chemicals

Construction chemicals are a part of specialty chemical sector, serving a critical role for every commercial building, residential property or infrastructure project in the world today. Concrete admixtures, asphalt modifiers, adhesives, sealants, grout and mortar, insulation, protective coatings and other products can improve workability, enhance performance, add functionality and protect structures from weather and pollution. The building materials and construction industries must adopt new practices to meet the increased demand for materials to build the housing and transportation infrastructure needed to support the anticipated increase in city dwellers while reducing CO2 emissions in a resource-constrained environment.
The rapidly increasing demand for green buildings has increased the overall demand for construction chemicals globally. Growing awareness of environmental effects of conventional buildings and changes in government policies throughout the world are the two major reasons behind the large-scale adoption of construction chemicals for buildings. Major players in the construction industry are now paying increased focus on LEED ratings, green points, and sustainable buildings. Even though use of these chemicals increases the overall cost of construction, its environmental benefits are far greater. Apart from adding more strength to the buildings, these chemicals bring down the volume of water and cement used in the construction process at an exceptional rate. Another major reason behind the increased adoption of construction chemicals is that it enhances the performance of emerging building technologies like new thermoset hotmelts, structural tapes, and multi-purpose adhesives.
Demand for construction chemicals for infrastructure and residential applications has been steadily increasing since 2011. To meet this growing demand, companies have started to increase funding in research and development initiatives to create technologies that help increase efficiencies and maximize profits for building and facility owners. Newer profit-driven products address the wants and needs that end-users demand, resulting in new technologies that provide a variety of functions. Global Construction Chemical market generated revenue of US$ 39.04 billion in 2018. Concrete Admixture was the largest revenue-generating segment in 2018, with revenue share of 27.4%. The segment is expected to witness highest CAGR of 7.30% during the forecast period 2019-2025.
The global constructing industry is growing in full swing. As per a report “Global Construction 2030” published by PwC, it has been forecasted that the volume of construction output will grow by 85% to US$15.5 trillion worldwide by 2030, with three countries, China, US and India, leading the way and accounting for 57% of all global growth. The global construction growth has been predicted to be 3.9% per annum till 2030, outpacing the global GDP by over one percentage point, driven by developed countries recovering from economic instability and emerging countries continue to industrialize.
Global Construction Chemical market has been bifurcated into Infrastructure, Residential and Non-Residential application. The Residential segment would witness highest growth during 2019-2025. Asia Pacific dominated the market with 50.1% share. Asia Pacific is expected to generate revenue of US$ 32.55 billion by 2025. The region is expected to witness highest CAGR of 7.63% during the forecast period 2019-2025. China dominated the Asia Pacific Construction Chemical market, generating revenue of US$ 12.97 billion in 2018. China is expected to witness CAGR growth of 7.67% during the forecast period 2019-2025 to reach a market size of US$ 21.63 billion by 2025. However, India would witness highest CAGR growth of 8.03% during the analyzed period.

Global Construction chemical market was valued at US$ 39.0 billion in 2018. The sector is expected to witness a CAGR growth of 7.10% during the forecast period 2019-2025, to reach a market size of US$ 62.7 billion by 2025. Asia-Pacific dominates the market and is expected to maintain its dominance during the analysed period.

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