Albertville, Alabama Nov 10, 2021 (Issuewire.com) - Market Overview
The Europe and CIS Construction Chemicals Market is expected to grow at a CAGR during the forecasting period (2021-2028).
Construction chemicals are chemical formulations used with cement, concrete, or other construction materials at the time of construction to hold the construction material together.
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The quality of cement has improved extensively with the utilization of the development of synthetic substances.
Construction chemicals have become an important component of the chemical industry, playing an important role in global infrastructure development. Improved development prospects in the construction business imply that numerous global organizations have begun contributing to creating advanced chemical product development.
Market Dynamics:-
Increasing construction activity, increasing adoption of innovative construction, and growing government developments are the key drivers that boost market growth. The growing awareness among architects, builders, contractors, and owners that construction chemicals help improve construction quality and performance will help the market boom in the future.
Governments are investing heavily in infrastructure and housing development. Government policies that promote energy-saving materials and environment-friendly specialty chemicals in construction drive the demand for environment-friendly performance chemicals, such as waterborne coatings.
The increase in the use of ready-mix concrete (RMC) is increasing the demand for construction chemicals. RMC in construction is around 7% of domestic cement demand and is expected to rise to 20% to 25% in the future.
High prices of construction chemicals, strict government regulations, and lack of skilled labor are the key restraints for market growth. The presence of various small-scale manufacturers that produce low-value products would compensate for the increasing prices of construction chemicals. On May 14, 2018, BASF Ltd. had increased the sales prices for all construction chemical products in small packages by over 10%, including a price review and restructure for air-entraining agents and air-controlling agents concrete admixtures.
Segmentation Analysis:-
By Type
- Concrete Admixtures
- Surface Treatment
- Water Proofing, Industrial Flooring
- Adhesives and Sealants
- Protective Coatings
- Flame Retardants
- Others
By Application
- Commercial
- Residential
- Infrastructure
- Others
Competitive Landscape:-
Some of the key market players are 3M, RPM International Inc., Clariant AG, BASF SE, Chryso SAS, DowDuPont Inc., Fosroc International Limited, Henkel AG & Co., RPM International S.P.A, and Sika AG.
The mergers and acquisitions, the formation of strategic partnerships with key market players, and the launch of green construction chemicals for eco-friendly solutions are vital parts of leading companies' business strategies.
Fosroc has introduced the new Patchroc250, a solution for highway repairs, featuring improved characteristics, providing the rapid setting and rapid strength gain but low heat generation, ensuring no thermal cracking at high thickness.
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Related reports:
Chemical Surface Treatment Market
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