Construction Chemical Additives.
Construction Chemical Additives Business is Growing.
Construction Chemical Additives Market to reach $60.5 Billion by 2020.
Construction Chemical Additives are chemical formulations which are used in construction of residential, non-residential buildings. These are Specialty Chemicals which help increase the durability and strength of the structures being constructed. Major type of additives being used are concrete admixtures, water-proofing compounds, leveling agents and sealants. The concrete admixtures are again divided into plasticizers, superplasticizers and air entraining agents. The major advantages attributed to the usage of these additives include concrete stabilization, slump reduction, waterproofing, water reduction and improving the overall strength of the construction. Construction chemical additives have a wide range of applications including residential, non-residential, infrastructure and renovation.
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MARKET TRENDS AND MARKET GROWTH:
The global market in 2014 was $36 Billion and is dominated by APAC which is poised to exhibit the fastest growth due to favorable macroeconomic conditions such as population growth and financial conditions like increasing FDI investments. China and India are the growth frontiers for the construction chemical additives manufacturers providing a huge potential market to be tapped. China is the largest construction chemicals market with a share of 24.5% currently. China has overtaken the U.S as the world's leading market of construction chemicals and is expected to remain the largest up to 2015. Other major market includes North America which accounted for a significant market share. The construction chemicals market in the U.S is anticipated to grow at a CAGR of 18% during the forecast period 2015 to 2020.
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Market Driving Factors:
Rapid developments in emerging countries and use of innovative products and materials in construction activities have supported the growth of construction chemicals additives markets. Along with the demand growth, the adoption of new technologies for construction chemical in emerging economies such as China and India provides a strong impetus to the market growth. Innovation is a key driver for this segment. As per the industry, construction chemical sector spends approximately 3% of its sales on R&D of new products and technologies. This is one of the strategies to increase the market share. The new firms that venture into this market will need huge capital for investment in manufacturing and marketing along with offering product or pricing benefits to customers. The market is poised to exhibit new product launches and strategic acquisitions or partnerships, as major companies explore for new opportunities.
REPORT SCOPE: The construction chemical additives market report is a comprehensive study of the market for different types, applications and geography.
Key Market Players:
Sika and BASF, key players of this industry, have 50% of the major developments acclaimed for in the last five years. They are followed by W.R Grace Construction and Ardex GmbH with 11%and 9%, industry specific developments respectively. There are a total of 54 developments over a period of 5 years, done by top 10 major players in the market. The overall construction chemicals market is characterized by large number of companies but top three companies account for 54% market share due to the wide distribution network and brand reputation. Some other notable players analyzed and mentioned in this report:
- · RPM International
- · W.R Grace & Co.
- · Mapei South Africa (PTY) Ltd.
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