Construction Chemicals Market Overview:
Fast urbanization in many developing regions would support the market expansion over the coming years. As the market is highly affected by several organizations, major companies have been focusing on R&D projects to develop new bio-based products. Change of prices and supply of the raw materials is likely to hinder market development. Nevertheless, a growing number of private and non-residential architecture and construction activities over the globe will drive the market demand across the forecast period.
Construction adhesives are expected to witness a lucrative growth during the projection period. Cement-based adhesives are widely used in floor and wall tiles. They include water-resistant cement and polymer-modified concrete, which is useful in internal and external relationships. Epoxy adhesives are cool curing adhesives, which are resistant to water, oil, alkalis, and several other solvents.
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Construction chemicals are generally used in non-residential and infrastructure sectors, considering for over 67% of the global volume. Forthcoming projects such as Panama Canal expansion is foreseen to foster the segment growth over the forecast period. Development of ultramodern offices and workspaces along with fast urbanization and enhanced lifestyles has led to the majority of the global construction chemicals market.
Infrastructure is the various attractive segment in the world business. Infrastructure would be the greatest preference for new players due to the surging population and urbanization according to driving the need for sustainable infrastructure and environmentally friendly products. Residential is the most attractive part for new entrants in the construction chemicals market. This section was the highest revenue generating in 2015 valued at $12,301 million representing approximately half of the global market.
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Construction Chemicals Market Geographical Insights:
Asia Pacific region was the biggest consumer for construction chemicals globally. Taiwan and India are the main countries in this region considering more than 50% of the overall market size. The growth of this market is directly linked with the development of the construction industry. Thus, increasing spending on infrastructure development is anticipated to drive the global market. The support spending in Europe is expected to grow at around 3% yearly approaching USD 508 billion by 2024. This will also have a positive impact on market expansion.
Key Players of the Construction Chemicals Market:
The economies of South East Asian nations such as Indonesia, Philippines, and Malaysia are undergoing rapid economic growth, which is likely to have a real impact on the construction industry. These nations are witnessing strong demand for infrastructure projects, which, in turn, will feed the demand for construction chemicals in the Asia Pacific, thereby driving the regional market.
Fast urbanization in many developing regions would support the construction chemicalsmarket expansion over the coming years.Construction chemicals are generally used in non-residential and infrastructure sectors, considering for over 67% of the global volume.Residential is the most attractive part for new entrants in the construction chemicals market.Asia Pacific region was the biggest consumer for construction chemicals globally due to the development of the construction industry and increasing infrastructure spending.
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