Construction Chemicals Market Is Predicted to Reach $50.6 Billion by 2026, Growing With a Cagr of 5.9% From 2019 to 2026 | Basf Se, Rpm International Inc., Sika A.G.

Construction Chemicals Market Is Predicted To Reach $50.6 Billion By 2026, Growing With A Cagr Of 5.9% From 2019 To 2026 

Construction chemicals are additives that are used with concrete, cement, and other construction materials to provide additional durability and workability to various structures. The type of chemical to be used depends on the size and nature of the project. Construction chemicals are used to obtain certain desired characteristics in concrete such as high workability, high compressive strength, and high performance and durability parameters to meet the requirement of complexity of modern structures. Hardeners are used with structures to seal them against moisture and making them dustproof by bonding the crystalline structure of cement.

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Construction Chemicals Market Outlook – Need for Durable and Lightweight Materials Expected to Boost Demand

Rapidly increasing growing construction industry coupled with complex modern infrastructural needs fuels growth of construction chemicals market. Asia Pacific is one of the major contributors to the construction chemicals market. This is owing to constantly growing construction industry in emerging economies such as India and China. According to India Brand Equity Foundation (IBEF)—part of the Department of Commerce, Ministry of Commerce and Industry, Government of India—the Indian construction industry is expected to grow to a value of US$ 5 billion by 2020. Also, various government schemes and foreign investments have augmented the growth of construction chemicals market in the region. Growing infrastructural needs in India has attracted various investors such as Silver Spring Capital Management, Altico Capital, The Construction Industry Development Board of Malaysia, and many more. This in turn creates a conducive environment for market growth.

Key Developments

1. Major companies in the market are involved in various business strategies such as business expansion, in order to enhance their global market presence. For sintance in August 2019, Pidilite Industries, an adhesives manufacturer, commissioned the state-of-the-art manufacturing plant of Pidilite Specialty Chemicals Bangladesh (PSCBL) at Bhaluka, Bangladesh.
2. Key players in the market are focused on various business strategies such merger and acquisition, in order to gain competitive edge in the market. For instance, in September 2018, RPM International Inc., a manufacturer of specialty chemicals, acquired Nudura Corporation, manufacturer of insulated concrete forms (ICF).

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