Construction Chemicals Market Global Key Leaders: MAPEI, SIKA AG, BASF SE, W.R. GRACE & CO., and RPM INTERNATIONAL, THE 3M COMPANY, ADCO, ALBEMARLE CORPORATION

Construction Chemicals Market Highlights:
The global construction chemicals market has been estimated at USD 19,416.37 million in 2017. The market is expected to register a CAGR of 6.06% during the forecast period, 2018 to 2023. Residential sector dominated the global construction chemicals market with nearly 29% share globally, while industrial segment is estimated to register the fastest CAGR through the forecast period.

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China is the Largest Consumer
The Chinese construction market is the largest in the world and is demonstrating a slower growth rate of 10.16% from 2015. The rising government investments in the transport infrastructure and water conversation sector is expected to maintain the growth rates of the construction sector in the country. In addition to all this, the approval of “Green building evaluation standard” by the government shall boost the green building market. Additionally, there have been investments of 823.8 billion Yuan and 801.5 billion Yuan in China’s rail infrastructure in 2015 & 2016, respectively.

Key Developments in the Market
• May 2017: Arkema announced the acquisition of CMP Specialty Products by Bostik, the flooring and floor preparation business of US based specialist CGM.
• April 2017: BASF signed an agreement to acquire GRUPO THERMOTEK, a leading waterproofing systems supplier based in Monterrey, NL, Mexico.

Major Key Players:
MAPEI INC., SIKA AG, BASF SE, W.R. GRACE & CO., and RPM INTERNATIONAL INC and Other Players Include THE 3M COMPANY, ADCO, ALBEMARLE CORPORATION, ARKEMA SA, ASHLAND INC., BOLTON GROUP, CEMETAID (N.S.W.) PTY. LTD., CHRYSO, CICO TECHNOLOGIES LTD., CONMIX LTD., DOWDUPONT, FOSROC, FRANKLIN INTERNATIONAL, HENKEL AG & COMPANY, KGAA, LAFARGE, MUHU CONSTRUCTION MATERIALS CO. LTD., PIDILITE INDUSTRIES, SELENA FM S.A, STRUCTURAL WATERPROOFING AND THERMAX GLOBAL.

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Growing Demand in Asia-Pacific
Construction sector in Asia-Pacific is the largest in the world. The increasing infrastructure construction activities are the major drivers for the Asia-Pacific construction industry. In addition, the entry of major construction players from the EU into the lucrative market in countries like China, has further fueled the industry’s growth. Owing to their business potential, countries, such as Indonesia, China, Malaysia, Singapore, and South Korea have become hosts to numerous national and international events. The move has accelerated the demand for hotels, shopping malls, high-rise buildings, arenas, and stadiums (both outdoor and indoor), thereby, boosting the construction industry in the respective regions. Concrete admixture dominates the global construction chemicals market by product type. The segment is expected to register the highest growth over the forecast period at a CAGR of 6.73%.
Concrete admixtures reduce the concrete construction cost, by modifying the properties of hardened concrete, ensuring better quality during mixing, transporting, placing, and curing, thus, overcoming the most emergencies during concrete operations. Asia-Pacific has the largest market for concrete admixture, owing to the massive growth in the construction markets of India, China, and various South-east Asian countries. Various incentives by the government of respective nations to promote the infrastructural sector, coupled with the blooming residential sector, owing to the rising middleclass population, have largely facilitated the growth of the construction market in Asia-Pacific over the years.

Asia-Pacific Dominates the Market
Asia-Pacific has the highest share in the market, accounting for nearly 46% of the global market share in 2017. The market for Asia-Pacific is driven majorly by the increasing construction activities coupled with supportive government regulations. Huge consumer base and cheaper manufacturing costs in the Asia-Pacific region are drawing-in high FDIs, with India and China being the major countries.

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This release was published on openPR.