Increasing Need for Durable Structures Boosting Construction Chemical Usage

A range of chemicals are added to concrete, cement, and other construction materials to keep everything intact and increase the strength of the final mixture. These are used in large quantities in the civil repair and construction sectors. Therefore, the surging rate of urbanization in emerging economies has led to the large-scale consumption of such chemicals in these countries, as they make buildings more durable. Moreover, the rising need for infrastructure development in developing nations on account of the booming population will amplify the consumption of construction chemicals.

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People in emerging economies are migrating from rural to urban areas in search of better employment opportunities and standard of life. Owing to the economic, social, and environmental changes brought about by urbanization, it becomes difficult to meet the requirements of the growing urban population, especially in the areas of housing, transportation, and energy. To meet the rising needs, developing nations are focusing on the construction of new buildings. As a result, the construction chemicals market will likely grow from $55,111.6 million in 2017 to $80,025.4 million by 2023, at a CAGR of 6.5% during 2018–2023.

In 2017, the Asia-Pacific (APAC) region consumed the highest volume of construction chemicals due to the rapid growth of the construction sector in India, Japan, and China. Additionally, the rapid advance of the residential real estate sector, owing to the burgeoning population of middle-class people, resulted in the high-volume consumption of such chemicals in APAC. Moreover, several government initiatives directed at promoting infrastructure development boost the adoption of construction chemicals during the building of new commercial and residential spaces.

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According to P&S Intelligence, APAC will register the fastest growth in the construction chemicals market due to the mounting need for these chemicals in the emerging economies of China and India. China is regarded as the construction capital of the world. The huge government investments in infrastructure projects will boost the requirement for construction chemicals in the country in the coming years, especially in its major cities, such as Shanghai, Hong Kong, Macau, Guangzhou, Chengdu, and Beijing.

Thus, the mushrooming focus on enhancing the durability of buildings and growing number of green buildings will accelerate the usage of construction chemicals in the immediate future.

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This release was published on openPR.