LONDON--(EON: Enhanced Online News)--According to the latest market study released by Technavio, the global construction chemicals market is expected to grow at a CAGR of 5.59% during the forecast period.
“Being the most versatile bonding agent today, adhesives and sealants have been encouraged in the construction sector. The adhesives segment dominates the overall market and is anticipated to witness a significant growth owing to the technological advances during the forecast period”
This research report titled ‘Global Construction Chemicals Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
In 2015, the construction chemicals market in APAC generated the highest revenue in the global market, and it is anticipated to post the fastest CAGR during the forecast period. The construction market in APAC is dominated by China, India, and Japan. Increasing investments toward urbanization are expected to fuel the demand for construction chemicals in the region.
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Based on product type, the report categorizes the global construction chemicals market into the following segments:
- Protective coatings
- Adhesives and sealants
- Concrete admixtures
- Asphalt additives
- Flame retardants
The top three revenue generating product segments in the global construction chemicals market are discussed below:
Global construction chemicals market for protective coatings
The global construction chemicals market for protective coatings was valued at USD 15.56 billion in 2015 and is expected to reach USD 20.49 billion by 2020, posting a CAGR of almost 6%.
“Protective coatings are a vital part in any construction project. They are used as coatings in commercial and residential buildings. Protective coatings are known to provide protection against elements such as moisture, UV radiation, and microbes,” says Ajay Adikhari, a lead analyst at Technavio for specialty chemicals research.
Protective coatings are generally layered as protective systems, where layers are systematically applied. These systems may be of a single coat or can be a combination of multiple layers of same or different generic types. This together forms a coating system consisting of one or more coats, applied in a predetermined order by prescribed methods, and generally involves surface preparation and quality control requirements.
Global construction chemicals market for adhesives and sealants
The global construction chemicals market for adhesives and sealants was valued at USD 11.78 billion in 2015 and is expected to reach USD 15.40 billion by 2020, posting a CAGR of 5.51%.
Adhesives and sealants are differentiated by the type of bonding involved, especially their physical and chemical mechanisms. Adhesives cover a broad segment, which incorporates materials like glue, cement, mucilage, and others. Adhesives mainly include polymers that help in hardening as a result of chemical or physical reaction. Sealants, on the other hand, are pliable and soft materials that change their state as soon as they are applied. Sealants are mainly used where noise, air, liquid, and dust have to be prevented. Sealants have lower strength than adhesives but are higher in strength than putties and caulks.
“Being the most versatile bonding agent today, adhesives and sealants have been encouraged in the construction sector. The adhesives segment dominates the overall market and is anticipated to witness a significant growth owing to the technological advances during the forecast period,” adds Ajay.
Global construction chemicals market for concrete admixtures
The global construction chemicals market for concrete admixtures was valued at USD 10.51 billion in 2015 and is expected to reach USD 13.75 billion by 2020, posting a CAGR of 5.52%.
Concrete production requires mixing of cement, sand, crushed rock, and water in a specific proportion. Concrete admixtures provide better mixing of materials required in the concrete production from cement. Admixtures have the following benefits in construction:
- They reduce the cost of concrete construction
- They are used to modify the final properties of hardened concrete
- They allow the easy flow of concrete, thus decreasing application time and improving ease of use and preventing the concrete components from segregating
- They help in avoiding cracks and provide a smoother evenly finished surface
The top vendors highlighted by Technavio’s research analysts in this report are:
- RPM International
- W. R. Grace & Co.
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