Doom: Upcoming Challenges and Business Opportunities in Construction Chemicals Market
Pune, New York, USA, November 17 2020 (Wiredrelease) Research Dive –:Construction chemicals are the specialty products crucial for energy conservation and sustainable infrastructure in construction industry to provide added protection from environmental hazards and enhance durability of buildings. Construction chemicals are used in the construction industry and by the civil repair for infrastructure-based development. These chemicals have a wide range of applications like repair, concrete modification, and waterproofing.
According to the Research Dive blog, construction chemicals comprise of wide-range of products which includes sealants, flooring chemicals, admixtures, grouts, chemicals for maintenance & repair of structures, and water proofing chemicals. These products are currently among the vital components that goes into building or infrastructure construction.
Key Developments in the Global Industry
Developments in construction chemicals market are creating lucrative opportunities in the building construction & infrastructure industry. The major industry players are adopting several strategies such as mergers, acquisitions, advanced product developments, and geographical expansion to strengthen their position in the overall market, which is subsequently supporting the construction chemicals market to grow at a significant pace.
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For instance, in April 2016, Sika AG completed the acquisition of L.M. Scofield, a U.S.-based manufacturer of concrete color additives, in order to expand its concrete business in North America. Further, in November 2017, Sika AG acquired Butterfield Color in the U.S. to strengthen the company portfolio for concrete contractors. Butterfield’s product line of sealers and colors, along with innovative tools for texturing and stamping has been growing with a strong pace for many years.
In April 2016, BASF inaugurated a new concrete admixture plant in Vietnam. The aim of the company behind the opening of this plant is to better serve and meet the rising demand of consumers for better quality construction chemicals products in Vietnam market.
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In December 2018, Fosroc launched ‘Polyurea WH 200GR,’ which is a green roof waterproofing grade construction chemical product. The novel product is spray-applied that targets the green roof industry. The Polyurea WH 200GR provides tensile/crack/ elongation bridging and water abrasion-resistance/ impermeability, which makes it a great solution for both existing and newly build structures.
In September 2019, BASF announced the launch of ‘Master X-Seed STE’ admixture for New Zealand and Australia concrete industry. Master X-Seed STE helps in significantly improving both early as well as late-age strength development in concrete and also in making concrete production more efficient. Master X-Seed STE solution is recommended for use in precast and ready-mixed concrete and self-consolidating concrete.
Forecast Analysis of the Construction Chemicals Industry
Global construction chemicals market is projected to experience a robust growth over the forecast period owing to rapidly increasing urbanization and construction activities worldwide. The growing concern regarding eco-friendly chemicals is predicted to play a crucial role in creating enormous growth opportunities in the global market. However, extensively growing environmental regulatory policies related to volatile organic compounds (VOC) emissions are likely to hamper the market growth in the near future.
A significant growth in the construction projects across the globe is a major factor estimated to boost the growth of the global construction chemicals market by 2026. Research Dive in its published report estimates that the construction chemicals market will grow at a CAGR of 5.6% during the forecast period. The North America region is estimated to subjugate the global construction chemicals market throughout the forecast period owing to booming economy in the region. The report further outlines major players operating in the global industry that are concentrating on several strategies to sustain in the pandemic crisis. The major players of the industry include Fosroc, Inc., Arkema SA, Sika A.G., Dow, BASF SE, RPM International Inc., Ashland., W. R. GRACE & CO., Pidilite Industries Ltd., and MAPEI S.p.A.
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