Construction Chemicals Market: High Consumption in Steadily Developing Economies to Ramp up Growth Prospects

According to a recent report by Transparency Market Research (TMR), the vendor landscape of the global construction chemicals market features a largely consolidated nature, with the top four players accounting for over 48% of the market in 2013. Leading companies have made research and development activities a priority, with focus increasing on the development of product with the least amount of emissions and carbon footprint.

The market, however, also features a large number of companies holding promising share in the global or regional markets. Some of the leading contributors to the global construction chemicals market space are The Dow Chemical Company, BASF SE, Henkel AG & Co. KGaA, Sika AG, AkzoNobel Chemicals AG, Bostik Limited, and Fosroc International.

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Transparency Market Research projects that the global construction chemicals market will expand at a promising 8.7% CAGR over the period between 2013 and 2019, rising from a value of US$21.12 bn in 2012 to a valuation of US$37.68 bn by 2019.

Of the key varieties of construction chemicals covered in the report, the segment of concrete admixture accounted for more than 55% of the global in 2013. The segment is also expected to continue to hold onto its top spot through the forecast period. The segment of protective coatings is likely to develop at a moderate pace.

From a geographical standpoint, China dominated the global construction chemicals market in terms of volume, accounting for over 40% of the overall market in 2013. Europe held the second position in terms of consumption of construction chemicals in the said year, but the regional market is likely to expand at a slower pace through the forecast period. The Rest of Asia Pacific regional segment is projected to thrive on account of its burgeoning construction industry in emerging economies.

One of the key factors driving the global construction chemicals market is the steady investment in infrastructure development projects in BRICS countries. Developing countries in Asia Pacific are witnessing a rapid rise in urban centers owing to the availability of lucrative personal growth opportunities. This has led to an increased demand for housing projects and other urban infrastructure in these regions, which, in turn, has led to the steady rise in demand for construction chemicals. Similarly, the increased preference of consumers to green buildings along with the strict environment sustenance regulations are driving the global construction chemicals market.

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Although growth opportunities abound for the construction sector across developing as well as developed economies, a range of factors could rein in the prospective growth of the global construction chemicals market through the forecast period. Factors such as dearth of new construction projects in developed economies and the low rate of awareness about the benefits of a variety of construction chemicals to the construction’s life or in improving its carbon footprint, especially in developing regions, are expected to impede the growth of the market to an extent in the near future.

All the same, lenient environment protection norms in developing and less developed economies could limit the development of product segments that help attain environment protection objectives, such as low emission rate; demand for such chemicals has sped in developed economies in the recent years.

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This release was published on openPR.