At 6.21% CAGR, the Construction Chemicals Market is forecast to reach strong market growth through 2026
SOUTHLAKE, TX, UNITED STATES, December 5, 2019 /EINPresswire.com/ — Urbanization across emerging nations such as China, India, and others, increasing demand for construction and infrastructural activities leads to an increase in construction activities to drive the construction chemicals market growth.
Moreover, the government of various countries across the world is providing subsidies for companies that are focusing on technological advancements and standardizing modern methods of construction (MMC). Therefore, increasing government support to boost the key companies operating in the market to enhance their investments.
In addition, steady economic circumstances and cumulative demand for residential units with infrastructure development activities, mounting demand for dams, buildings, tunnels, bridges, and roads are the other factors driving the construction chemicals market growth.
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Further, the potential of green building materials to reduce emissions owing to increase demand in order to help the construction chemicals to enhance the overall building durability and to offer protection against environmental threats.
Construction chemicals to aid in reducing the volume of cement and water consumed through the construction progression resulting in increasing demand for chemicals.
However shortage of skilled labor and machinery, unavailability and fluctuations in the prices of raw materials to pose a major challenge for the construction chemicals market growth.
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Concrete admixtures segment emerge with strong market share during the forecast period
Concrete admixtures upgrades the properties of hardened concrete and provide a better quality of mixing as well as curing. With such performance of concrete admixtures, the market segment is witnessing growth which boosts the construction chemicals demand.
Conservatively waterproofing is measured as a counteractive measure for chemical waterproofing when the building is being constructed. Therefore, Water Proofing Chemicals emerges with strong market growth during the forecast period.
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Moreover, erratic climatic fluctuations result to strengthen the extreme condition for construction and lessens the operational efficiency of traditional waterproofing methods including brickbat- coba. These offsets further trigger the consumption of Water Proofing and other adhesives.
Emergence of key end-user entices the market value during the forecast period
A rapid increase in population and increasing industrialization across the developed and emerging nations give rise to infrastructural activities in key areas including schools, hospitals, defense infrastructure, government accommodation, and water resources. These construction activities boost the consumption of construction chemicals.
Subsidiaries by Asian governments for the construction of households to the citizens of India, China, Malaysia and other results to boost the use of construction chemicals in all end-user industries.
With China in the lead, Asia Pacific reaches macro Construction Chemicals Market share during the forecast period
External and domestic headwinds across Asia Pacific drive the market growth, as China peers with high GDP growth, strengthening export performance, and high peak in workforce. These factors spike the growth of the construction sector and boost construction chemicals market growth.
The residential sector accounted for 34%, infrastructure sector for 37%, and non-residential sector for 29% share of construction spending. The task of improving infrastructure sector linked with initiatives taken up by the government of developing countries further thrives the market growth across Asia Pacific.
Further, a wide customer base and cheaper manufacturing costs in Asia Pacific resulting in high FDI (foreign direct investment) with China and India as major beneficiaries projects growth for construction chemical market size.
Furthermore, limitations on overseas investment on land development, high-end hotels, office buildings, international exhibition centers, and construction, operation of large theme parks have been boosted for the expansion of construction chemicals in China, India, and others.
Strategic ventures, innovative product launches are observed construction chemicals across market players as key market strategies
The key players operating in the market are entering into strategic ventures to expand services and products across the construction chemicals market. Adani Group, ADNOC, BASF, Borealis AG signed a memorandum of understanding (MoU) to engage in the establishment of a chemical complex for construction chemical produce.
Further, in 2019, Sika AG acquired AdePlast to drive the continued growth of both companies and to extend its manufacturing footprint.
In addition, market participants are investing in launch of innovative products. For instance, in 2019, BASF launched Master X-Seed STE admixture for the concrete industry to improve early and late-age strength development in concrete and to make concrete production more efficient.
Key players of Construction Chemicals Market include Arkema S.A., Ashland Inc., BASF SE, Fosroc International Ltd., Mapei S.P.A., Pidilite Industries, RPM International Inc., SIKA AG, The DOW Chemical Company, W.R. Grace & Company, Saint Gobain among others.
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Source: EIN Presswire