Construction Chemicals Market Research Methodology, Scope & Assumptions Till 2024
“In terms of global market size, the construction chemicals market was valued at USD 39.17 billion in the year 2015 and is expected to register considerable growth over the forecast period.�
In terms of global market size, the Construction Chemicals Market was valued at USD 39.17 billion in the year 2015 and is expected to register considerable growth over the forecast period. Rising requirements from numerous end-use industries including residential & non-residential and infrastructure is expected to drive the market growth over the next nine years. In addition, the market expansion is expected to be driven by rapid shift towards urbanization and rising focus towards infrastructure development in emerging economies. Moreover, government initiatives in emerging economies such as India are also presumed to drive the market growth. On account of stricter environmental regulations, the market participants are focusing on research and development activities to come up with new products complying with guidelines established by various regulatory bodies. Application of biochemical as construction chemicals is at its initial stage, that could prove to be a revolutionary technology in future. Emerging countries such as India and China are presumed to fuel the market owing to various upcoming infrastructure projects under development. China was the major construction market accounting for over 20.0% of the global share in the year 2015. The market growth is also expected to witness a significant growth on account of rising rate of mergers and acquisitions by major players in the market. In addition, technological innovations have resulted in the rise in usage of other specialty chemicals which consist of chemical flooring, surface coating chemicals, grouting compounds and structural adhesives.
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