Construction Chemicals Market: What Are The Growth Drivers? | Key Company Profiled In Henkel, AkzoNobel, Ashland, 3M, BASF, W. R. Grace & Co., Fosroc, Arkema, The Dow Chemical Company, Mapei, Evonik, Huntsman Corporation, Albemarle Corporation
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Construction Chemicals Market will likely cross USD 50 billion by 2024 according to this new research report. The global construction market in the coming years is likely to witness significant gains owing to on account of the rising costs on infrastructure across the BRICS countries. In 2015, the global construction industry was valued close to USD 8 trillion and is likely to gain with substantial rates. With strong growth predictions in 2015, the construction industry in China was recorded at over USD 1.7 trillion. Following China are the countries such as Japan and India with comparatively high growth predictions. Due to developing nations in the Asia Pacific region, construction industry is growing at a considerable rate propelling the ferroalloy market demand.
Industry impact forces
• Growth drivers
1. Booming construction industry in BRICS nations
2. Positive environmental impact and rising government initiatives
• Industry pitfalls & challenges
1. Mature construction industry in developed nations
2. Lack of awareness in the emerging nations
Lack of awareness about the product benefits in the developing countries may hinder the global construction chemicals market growth in near future. Due to its excellent properties, the product is expensive as compared to the others in the same category. Most of the small level builders and contractors minimize the construction costs to maximize their profits and tend to use low cost & poor quality material over these high cost materials leading to further hindrance to the global construction chemicals market.
Rising demand for the maintenance work of existing buildings is driving the sealants and adhesives market highly. Repairs and modifications done over existing constructions as per the trends in the industry are likely to, in turn boost the construction chemicals market.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
2. Pulastic sports flooring
3. W. R. Grace & Co.
4. RPM International Inc.
9. The Dow Chemical Company
11. Tata Chemicals
12. gujarat alkalies and chemical ltd
15. Huntsman Corporation
16. Albemarle Corporation
17. tremco illbruck The Netherlands
19. Pidilite Industries Limited
Below are the geographical trends influencing global construction chemicals market over 2016-2024:
• Europe construction chemicals industry revenue, valued at over USD 4.5 billion in 2015, is anticipated to record an annual growth of 8% over the coming period of 2016-2024, driven by high demand for sealants, protective coatings, and adhesives for repair and maintenance of heritage constructions.
• Asia Pacific construction chemicals market size, worth USD 14 billion in 2015, is forecast to grow at a rate of 9% over the coming seven years. High government funding for infrastructural projects due to the swift rise in population will push the regional growth. Vietnam, China, Malaysia, Japan, Indonesia, Philippines, and India are likely to be the major regional revenue contributors.
• Latin America construction chemicals industry is projected to witness a massive growth over the coming seven years, owing to beneficial government polices to provide houses at reasonable costs to the low-income group population. Brazil is projected to contribute considerably toward the regional share.
Asia Pacific held a major chunk of share in the global construction chemicals market owing to urbanization and heavy industrialization in the developing countries such as India, China and Japan. In 2015, the region is likely to grow with a CAGR of over 9% during the forecast period and registered a revenue exceeding USD 14 billion. Rising population in the developing economies such as India, China Japan, Vietnam, Malaysia, Indonesia and others are boosting the regional construction chemicals market to new heights.
Browse key industry insights spread across 160 pages with 262 market data tables & 11 figures & charts from the report, “Construction Chemicals Market” in detail along with the table of contents:
The construction chemicals market in North America generated over 3.5 billion in 2015 and will comparatively grow at a slower rate as compared to Europe and Asia Pacific owing to developed infrastructure and construction industry.
Prominent construction chemicals market players consist of multinationals such as BASF SE, Tata Chemicals, Huntsman Corporation, Albemarle, Gujarat Alkalies And Chemicals, Henkel AG, 3M Company, Evonik Industries, Ashland, Fosroc, MAPEI, Knopp GmbH, Pidlite Industries, Tremco Group, AkzoNobel Chemicals, Dow Chemical, Arkema, Sika Group and W. R. Grace & Company to name a few.
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