Construction chemicals market size was estimated exceeding USD 20 billion in 2015 and is likely to be worth more than USD 35 billion by 2023 with expected gains of over 7.5% from 2016 to 2023.
Concrete admixtures market dominated demand and accounted for more than 50% of the total volume in 2014. It is likely to witness significant gains of over 7.6% from 2016 to 2023. China construction chemicals market share accounted for more than 40% of the total volume in 2014 and is likely to witness highest gains over the forecast period. Europe accounted for more than 12% of the total volume in 2014 and is likely to witness sluggish growth rate over the forecast period.
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Construction chemicals provide properties such as durability, surface finish, compressive strength and resistance to extreme climatic conditions. These compounds impart physical as well as chemical properties in applications like phase change (from liquid to solid) or cross-linking. They are required for improving the concrete performance thereby increasing life of the construction work and providing protection from environmental hazards.
Rapid urbanization with the introduction of projects by government in tier-II and tier-II regions particularly in Asia Pacific is likely to drive construction chemicals demand. Asia Pacific accounted for approximately 44% of the construction spending market in 2013 in terms of revenue share with an estimated amount close to USD 3.59 trillion. China was the largest market in Asia Pacific with an estimated spending of approximately USD 1.78 trillion in 2013. India & Indonesia spent close to USD 427 billion and USD 267 billion respectively in 2013. These aforementioned factors are expected to make Asia Pacific as one of the attractive market for MNCs.
China construction chemicals market is the largest regional consumer and is likely to witness highest gains of more than 7.8% up to 2023. The country is also the largest cement producer and accounts for more than 40% of the total production volume. This factor is likely to witness an increase in increase in construction chemicals demand for concrete manufacturing required for construction applications.
North America is likely to witness moderate gains over the forecast period owing to recovery of post recession recovery of construction sector to some extent with increase in consumer spending. Europe is likely to witness sluggish gains over the forecast period. The market is also likely to witness high gains from countries benefiting from profit made from natural resources such as OPEC countries, Russia and Brazil.
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This latest Construction chemicals market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across a number of regional markets. The report also analyzes the Construction chemicals industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.
Browse key industry insights spread across market data tables, figures & charts from the report, “Construction Chemicals Market Size, Industry Analysis Report, Regional Outlook, Application Development, Price Trend, Competitive Market Share & Forecast, 2016 – 2023” in detail along with the table of contents:
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- Construction chemicals market size & forecast by product & application
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