Transparency Market Research in a new publication reveals the global construction chemicals marketfeatures a largely consolidated nature, wherein top four players held more than 48% of the market in 2013. Extensive focus on research and development in order to develop novel products with minimal carbon emissions account for the prominence of these players.
Some of the companies that contribute leading revenue to the construction chemicals market are The Dow Chemical Company, Henkel AG & Co., Sika AG, Bostik Limited, BASF SE, KGaA, AkzoNobel Chemicals AG, and Fosroc International.
As per the TMR report, the global construction chemicals market is likely to clock a CAGR of 8.7% between 2013 and 2019, for the market to be worth US$37.68 b by 2019. The opportunities in the market translated into a revenue of US$21.12 bn in 2012. Among the various product type segments, concrete admixture is predicted to continue to remain at the top spot through 2019. On the other hand, the protective coatings segment is likely to grow at a moderate pace. Geography-wise, China held supremacy in the construction chemicals market vis-à-vis volume in 2013. Europe is likely to display decelerated growth to lose its second leading share in 2013. The Rest of Asia Pacific region is predicted to expand on the back of the booming construction sector.
Construction of Entertainment Centers in Emerging Economies Fuels Demand
Majorly fueling the construction chemicals market is steady investment for infrastructural development in BRICS nations. Developing countries in Asia Pacific are witnessing a boom in the construction of commercial complexes, shopping malls, and multiplexes to serve changing entertainment needs of millennials. This has led to new construction of residential complexes, entertainment centers, commercial buildings that display a steady demand for construction chemicals. Furthermore, increasing demand for green buildings to abide by environment conservation regulations are stoking demand for low-emission construction chemicals.
Construction chemicals are used to provide an additional protective layer for buildings to safeguard from weathering and changing climates. In recent years, the demand for construction chemicals has been high as they add aesthetic and functional value to the architecture of a structure.
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In developing countries, several governments have been taking initiatives for the construction of housing for low-income families. The use of various types of construction chemicals enables designers and builders to come up with sustainable building structures that pose minimum hazard to the environment.
Relaxed Environment Protection Norms in Several Regions Crimps Growth
Despite several growth factors, slow rate of growth of the construction sector in developed economies is slowing the growth of construction chemicals market to some extent. Low rate of awareness in developing countries about the benefits of low emission construction chemicals is further challenging the market’s growth.
Apart from this, relaxed environment protection norms in developing and under-developed economies could limit the development of novel construction chemicals to meet environment protection objectives. This is challenging the growth of construction chemicals market to some extent.
The review presented here is based on the findings of a TMR report, titled “Construction Chemicals Market (Product type – Asphalt Additives, Concrete Admixtures, Adhesives, Sealants, and Protective Coatings) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020.”