Construction Chemicals Market 2018 to 2023 Market Growth, Demand, Challenges And Industry Drivers

Global construction chemicals market is projected to reach $80,025.4 million by 2023, the market growth is driven by growing urbanization and increasing demand for aesthetically appealing residential and commercial infrastructures.

The construction chemicals market is categorized into concrete admixtures, adhesives, sealants, protective coatings, asphalt modifiers, and others. Others include flooring chemicals and flame retardants.

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the volume sales of concrete admixtures are expected to exhibit fastest growth in the construction chemicals market, witnessing a CAGR of 5.4% during the forecast period. Concrete admixtures offer high compressive strength, high workability, watertight, durability, wear resistance, and high finish for the complex modern structures.

The construction chemicals market in Asia-Pacific (APAC) is expected to register a CAGR of 7.1% during the forecast period, in terms of value. The market growth in the region is mainly driven by the growing demand for construction chemicals from countries such as China and India. China is regarded as the construction capital of the world and the scale of construction in the country is gaining momentum at a fast rate.

High population growth rate and associated demand of infrastructure development are encouraging private players to invest generously in the industry. For instance, in Mexico, according to Council on Foreign Relations, due to the investment by private sector in commercial and residential building projects, the growth of construction activities increased by 2.0% in 2016 from the 2015 growth rate.

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Green building materials have an emission reduction potential, due to which, the market of green buildings is growing, in turn driving the construction chemicals market. Construction chemicals improve the overall durability buildings, along with providing protection against environmental hazards.

Some of the major players operating in the global construction chemicals market are Ashland Global Holdings Inc., Fosroc International Ltd., BASF SE, Arkema Group, Sika AG, W. R. Grace & Co., Mapei S.p.A, Pidilite Industries Limited, SOPREMA Group, Asia Mortar, Dayton Superior Corporation, Dahsin Waterproofing Co. Ltd., Bostik SA, Saint-Gobain S.A., SKK (S) Pte. Ltd., DowDuPont Inc., and H.B. Fuller Company.

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