Concrete Admixture Is Expected To Be The Largest Segment In The Global Construction Chemical Market During The Forecast Period 20192026.

(MENAFN- Straits Research) Introduction

Construction chemicals are the extra added supplements that provides additional protective layer to safeguard the building structures form natural calamities, as well as bad whether and changing climate. These chemicals also enhance aesthetic properties and add functional value to the architecture of structure that assures long durability and high performance. Concrete admixtures, flooring, roofing & tiling chemicals, waterproofing, plasticizers, adhesives & sealants, tile adhesives, repair & rehabilitation and among other are ideal examples of construction chemicals.

Segmental Insights

The global construction chemical market has been segmented by type, application and region.

On the basis of type, construction chemical market has been segmented into concrete admixtures, adhesives & sealants, waterproofing chemicals, flooring chemicals, repair & rehabilitation and others. In terms of volume concrete admixture segments holds approximately 42% of market share in 2015. Concrete admixtures are added to the concrete to obtain better finish and strength and are used to reduce water content in concrete and enhance the durability. On the other hand, adhesives and sealants are estimated to witness lucrative growth during the forecast period. They are made of superior quality materials and extends durability. Cement-based adhesives are largely used in floor and wall tiles and are created using cement, epoxy, and polymer formulation.

On the basis of application, the construction chemical market has been segmented into residential, commercial, industrial and others. Of them, commercial segment holds the major share of global volume. Expansion of ultramodern offices and workspaces along with rapid urbanization and enhanced lifestyles has led to the growth of commercial segment. However, in North America residential application segment is more likely to grow at higher pace. The aesthetic look and functional value provided to the infrastructure by using construction chemicals supports the growth in America.

Regional Insights

Geographically, the construction chemical market has been segmented into North America, Europe, Asia Pacific, Latin America and the Middle East & Africa.

Construction chemical market is booming in developing economies of Asia Pacific such as China, Japan, and India accounting for nearly 45% of the global market in 2017. The region witnesses increasing construction activities of shopping malls, commercial complexes, and multiplexes to serve the changing entertainment needs of millennials and infrastructure projects such as smart cities employed in the region further propels the growth of the market. This has resulted into new construction of residential complexes, commercial buildings, entertainment centers that experience a steady demand for construction chemicals. Additionally, governments in countries like India are launching several affordable housing schemes which propels the growth of the construction chemical market in the region. Moreover, rising awareness of benefits of products supports the growth of the construction chemical market.

Europe is likely to witness major share in the construction chemical market after china and holds 24% of global market share. Despite of being mature market, region is expected to grow at a steady pace. Increase in real household disposable income, lower interest rates and numerous investment plans by the European Union are the factors that supports the growth of Europe.

Products used to facilitate additional protective layer for buildings to safeguard from bad weather and changing climate. This factor has been leveraged and supports the growth of residential application segment in North America. Additionally, in recent few years, the demand for construction chemical market has been growing as they add functional as well as aesthetic value to the architecture of structure.

Developing economies of Middle East & Africa are expected to show significant growth in construction chemical market during the assessment period 2019–2026. Government supportive initiatives involving construction and maintenance of houses drives the construction activities in the geography. For instance, 'Minha Casa and Minha Vida' housing program, employed in Brazil, aims at providing improved and affordable housing facilities to the increasing population.