Global construction chemicals market to cross US$34 billion by 2015


Updated Wed, 20 Oct 2010 00:00:00 GMT

First used about a century back as a supplement to improve performance, construction chemicals have evolved into a vital constituent of all construction activities nowadays. Representing 2-3% of the overall construction cost, these chemicals are used to enhance the life of building structures, to safeguard them from natural hazards and industrial corrosives as well as to facilitate in faster construction. Huge acceptance of ready-mix concrete and higher demand for advanced construction techniques has increased the demand for high-performance construction materials. Most widely used construction chemicals include cement with admixtures, concrete admixtures, protective coatings and sealers, adhesives, caulks, flooring components, waterproofing, asphalt additives, concrete surface treatments and epoxies.

Global Construction chemicals market continues to face challenges amid the economic meltdown, as the construction industry is expected to take some time to pick up vibrancy in developed markets of the US and Europe, as stated by the new market research report on Construction Chemicals. The market witnessed a continued downslide since late 2008, with producers experiencing about 30% decline in orders. However, significant rebound in Asia-Pacific and Latin American economies is expected to set the pace for demand for construction chemicals. Far East represents the most vibrant region in terms of growth, where developing countries such as China, India, Taiwan, Vietnam, along with a few East European nations are witnessing spectacular growth rates owing to rapid urbanization.

Within the construction chemicals market, Non-Residential Construction constitutes the largest end-use segment. Protective Coatings & Sealers represents the largest product segment. These chemicals are widely used in nonresidential building segment especially in industrial and commercial buildings. Cement & Asphalt Additives represent the fastest growing segment. In Asia-Pacific, Cement & Asphalt Additives market is projected to reach US$ 1.2 billion by 2013.

Despite the recessionary woes affecting the construction and building industry, chemical companies continue to make investment in the commercialization and development of chemicals that are geared towards sustainability. Growing emphasis on sustainability by customers is resulting in higher usage of common construction products such as concrete and masonry, while simultaneously leading to declining use of certain raw materials. Volatile organic compound (VOC) contributors, phthalates, formaldehyde, and hydro chlorofluorocarbons (HCFCs) are some of the most commonly used raw materials that are facing shrinking use due to sustainability concerns. The market is also witnessing an increasing shift of production bases from developed countries to developing markets, which provide cheaper labor and robust demand for products.

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