Valley Cottage, NY, November 20, 2017 (Newswire.com) - A recent report by Future Market Insights titled, “Construction Chemicals Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)”, which monitors the performance of the global market for construction chemical for the forecast period of 10 years i.e. over the course of time between 2017 to 2027. This global market for construction chemical market is projected to expand with a positive rate over the course of the forecast period. With respect to volume, the overall consumption of construction chemicals across the world was accounted at about 23,934 KT in the year 2016.
The growth of the global construction chemicals market is expected to be achieved with the help of a steady CAGR of 4.9% in terms of volume during the given forecast period. With this CAGR, the market across the globe is expected to reach a value worth 40,158 KT at the end of the forecast period in 2027. The overall development of the global market for construction chemicals is projected to driven by the favorable regulations and policies and the increasing activities of construction across the world. Emphasis on the offshore business expansion and sales, apart from the local market and customized products for the end user segments are some of the new trends found in the global market for construction chemical market.
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Global Construction Chemicals Market: Important Market Takeaways
The North America market for construction chemical is expected to be dominated and led by the U.S. over the course of the given forecast period of 2017 to 2027.
Because of the development of the construction industry in the emerging economies such as Mexico and Brazil, there overall demand for construction chemicals is expected to rise during the aforementioned forecast period.
The Western Europe market for construction chemicals have been dominated by Germany owing to the widespread use of construction chemicals in the residential, commercial, and industrial segments of the nation. Germany is expected to dominate the Western Europe market for construction chemicals in the coming years of the forecast period.
The Asia Pacific except Japan market for construction chemicals is expected to be led by China, with the country accounting for more than 65% of the overall share in the market in terms of consumption.
With respect to volume and value, the Middle East and Africa market for construction chemicals is projected to be led by the GCC countries.
The Eastern Europe market for construction chemical has been dominated by Russia. The nation accounted for almost 44% of the overall share of the Eastern Europe market for construction chemicals in the year 2016.
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Concrete Admixture Segment to Dominate Over other Product Types
Depending on the type of product, the global market for construction chemicals can be segmented into protective coatings, concrete admixture, water proofing chemicals, asphalt additives, protective coatings, and adhesives and sealants. The segment of concrete admixture segment is projected to have a larger share in the global market for construction chemicals over the course of the given forecast period of 2017 to 2027. Rising rate of urbanization in the region of Asia Pacific, coupled with the growing demand for construction chemicals from the residential segment and increasing infrastructural development can be attributed as the major factors responsible for driving the growth of the concrete admixture segment.
Depnding on the type of application, the global market for construction chemicals can be segmented into industrial & commercial, infrastructure, and residential. The industrial & commercial and residential segments together are projected to account for a larger share in the global market for construction chemicals during the course of the given forecast period.
Some of the key players in the global market for construction chemicals include names such as The 3M Company, BASF SE, GCP Applied Technologies, HB Fuller Company, Ashland Inc., and RPM International Inc.
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Source: Future Market Insights