Construction Chemicals Market Size, Price Trend, Competitive Market Share & Forecast by 2023: Global Market Insights, Inc.

Construction chemicals market size was estimated exceeding USD 20 billion in 2015 and is likely to be worth more than USD 35 billion by 2023 with expected gains of over 7.5% from 2016 to 2023.

Concrete admixtures market dominated demand and accounted for more than 50% of the total volume in 2014. It is likely to witness significant gains of over 7.6% from 2016 to 2023. China construction chemicals market share accounted for more than 40% of the total volume in 2014 and is likely to witness highest gains over the forecast period. Europe accounted for more than 12% of the total volume in 2014 and is likely to witness sluggish growth rate over the forecast period.

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Rapid urbanization with the introduction of projects by government in tier-II and tier-II regions particularly in Asia Pacific is likely to drive construction chemicals demand. Asia Pacific accounted for approximately 44% of the construction spending market in 2013 in terms of revenue share with an estimated amount close to USD 3.59 trillion. China was the largest market in Asia Pacific with an estimated spending of approximately USD 1.78 trillion in 2013. India & Indonesia spent close to USD 427 billion and USD 267 billion respectively in 2013. These aforementioned factors are expected to make Asia Pacific as one of the attractive market for MNCs.

Increase in nonresidential spending to develop commercial, office and industrial buildings is likely to drive construction chemicals market. These non-residential applications are likely to gains significant gains over the forecast period. Health economic growth is expected to support its growth with introduction of new manufacturing plants, refineries, warehouses, shopping malls, restaurants, hotels and retail stores. Cement and asphalt additives are likely to witness a strong demand in nonresidential construction chemicals applications.

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China construction chemicals market is the largest regional consumer and is likely to witness highest gains of more than 7.8% up to 2023. The country is also the largest cement producer and accounts for more than 40% of the total production volume. This factor is likely to witness an increase in increase in construction chemicals demand for concrete manufacturing required for construction applications.

North America is likely to witness moderate gains over the forecast period owing to recovery of post-recession recovery of construction sector to some extent with increase in consumer spending. Europe is likely to witness sluggish gains over the forecast period. The market is also likely to witness high gains from countries benefiting from profit made from natural resources such as OPEC countries, Russia and Brazil.

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The global construction chemicals market share is fragmented and is characterized by technological advancement in product portfolio. Key companies include SIKA, BASF, W.R. Grace, RPM International and MAPEI. Other prominent companies include Arkema, Pidilite Industries, Ashland, Fosroc International, Dow Chemical Company, 3M Company, Adco Inc., Albemarle Corp, Antas Chemical Co.Ltd., The Tremco Group, Selena FM SA and Terraco Holdings Ltd.

About GMI
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Jack Davis
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1 888-689-0688
Email: sales@gminsights.com
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