DUBLIN, October 21, 2021--(BUSINESS WIRE)--The "Construction Chemicals Market - Growth, Trends, COVID-19 Impact, and Forecast (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Global Construction Chemicals Market size was estimated at USD 47,997.12 million in 2020 and the market is projected to register a CAGR of over 6% during the forecast period (2021-2026).
Cemetaid (N.S.W.) Pty Ltd
GCP Applied Technologies Inc.
Henkel AG & Co. KGaA
MUHU (China) Construction Materials Co., Ltd.
Pidilite Industries Ltd.
RPM International Inc.
Key Market Trends
Increasing Demand for Concrete Admixtures
Concrete admixtures are ingredients that are added to the concrete mixture before or during mixing. Concrete admixtures reduce concrete construction cost by modifying the properties of hardened concrete, thereby ensuring better quality during mixing, transporting, placing, and curing. This allows users to overcome emergencies during concrete operations.
According to the European Standard EN 206-1, the permitted dosage of admixtures to concrete should be less than or equal to 5%, by weight of the cement. However, in conditions of low dosage, the admixture quantities should be less than 0.2% of the cement.
The admixture is generally added in a relatively small quantity, ranging from 0.005% to 2%, by weight of cement. However, overuse of admixtures has detrimental effects on the quality and properties of concrete.
Based on function, admixtures are categorized into several types, which include air-entraining, retarding, accelerating, plasticizing, and water reducing, among others. The special category admixtures have various functions, including shrinkage reduction, corrosion inhibition, workability enhancement, alkali-silica reactivity reduction, bonding, coloring, and damp proofing.
Asia-Pacific has the largest market for concrete admixture, owing to the massive growth in construction in India, China, and various Southeast Asian countries. Various incentives by the governments of the respective countries to promote the infrastructure sector, coupled with the booming residential sector (owing to the burgeoning middle-class population), have largely facilitated the growth of the construction sector in Asia-Pacific, over the recent years.
Demand for concrete admixture is increasing at a rapid rate. Manufacturers are responding to this demand, and have started taking action. For example, BASF launched Master X-Seed STE admixture for the concrete industry, in March 2019. The product was introduced specifically for the Asia-Pacific region, as it enhances concrete strength's development and performance characteristics.
Asia-Pacific Region to Dominate the Market
The Asia-Pacific construction sector is the largest in the world, and is growing at a healthy rate, owing to the rising population, increase in middle-class incomes, and urbanization.
Increasing infrastructure construction activities and the entry of major players from the European Union into the lucrative market of China have further fueled the industry's expansion.
China's 13th Five Year Plan started in 2016, as it was an important year for the country's engineering, procurement, and construction (EPC) industry. In addition, the country ventured into new business models domestically and internationally, during the year. Although the construction sector slowed down after 2013, it is still a major contributor to the GDP of the country. The China's construction industry developed rapidly in the recent past, due to the central government's push for infrastructure investment, as a mean to sustain economic growth.
The construction industry is the second-largest industry in India with a GDP contribution of about 9% and has shown promising growth in 2019 with a re-energized output of around 8%. It is predicted that India's construction industry is set to emerge as the third-largest market in the world, with a size of almost USD 1 trillion by the end of forecast period.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Rising Residential and Commercial Construction Activities in the Asia-Pacific Region
4.1.2 Strengthening Demand for Water-based Products
4.2.1 Regulations For VOC Emissions and Inadequacy of Skilled Labor
4.2.2 Unfavorable Conditions Arising due to COVID-19 Impact
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.5 Price Analysis
5 MARKET SEGMENTATION
5.1 Product Type
5.2 End-use Sector
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Upcoming Construction Projects In the United States
7.2 Increasing Focus on Sustainable Materials
For more information about this report visit https://www.researchandmarkets.com/r/sz9byl
View source version on businesswire.com: https://www.businesswire.com/news/home/20211021005454/en/
Laura Wood, Senior Press Manager
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