Pune, India -- (SBWIRE) -- 06/13/2018 -- Construction Chemicals Market – Overview
According to some of the leading market research organizations have estimated that the Global Construction Chemicals Market may register the growth expansion at a CAGR of over 9% to reach the double digit million dollar mark by the end of 2023. The Construction Chemicals are the vastly used product on account rapidly increasing construction activities around the globe. It is not only one of the major and necessary residential and non-residential building applications but also in mega and multi-purpose projected such as dam, Hydro Electric Power (HEP) plants, and road construction, among others. In addition to this with changing consumer trends and stricter regulations to meet safety standards of building construction almost over 75% of the commercial and residential buildings opt for the Construction Chemicals to avoid the leveraging cost of maintenance. During the last decade, the construction chemicals are gaining great attention owing to the rigorous environmental regulations, which are demanding greater safety of the structure.
However, the lack of skilled labor and required awareness regarding use of these chemicals may hamper growth of the market for shorter run.
Construction Chemicals Market - Competitive Landscape
The Global Construction Chemicals is a highly mature market, which is primarily driven by flourishing building & construction industry, along with the rapidly increasing infrastructural development activities and technological advancements in the field of construction adhesives and building solution undertaken by major market players. This market accommodates significant numbers of tier 1 companies, yet the market share is dominated by BASF SE, Sika AG, PPG Industries, W.R. Grace & Co, and Fosroc International. They are the leading manufacturers having substantial contribution to the growth of this market during the assessment period. The major business tactic undertaken by almost all of these market leaders include capacity expansion, inauguration of new facility, and establishment beyond traditional regions, product launch and Joint Ventures (JV's. The market is anticipated to witness high competition on the backdrop of increasing global demand and continuous technological up-gradation of these players to gain significant share of the market and sustain the huge competition during 2017 to 2023.
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Industry/ Innovation/ Related News:
April 19, 2018- The France based specialty chemicals and advanced material manufacturing company Arkema S.A. has expanded the cementitious powder production capacities of its major subsidiary Bostik. This expansion was taken place at Philippines with opening of its new plant here. It is based on company's world-class Polymer Modified Binder (PMB) technology. With this development Bostik is able to serve their construction chemicals customers in the high growth regions of Visayas and Mindanao.
February 5, 2018- Bangladesh based unit of one of the leading paints & coatings industry Berger Paints Bangladesh Ltd, and globally leading construction chemicals manufacturing company Forsoc Interantional Ltd, entered into Joint Venture (JV) to set up a new leagal entity Berger Fosroc Limited. This serves the growing demand for construction chemicals at Bangladesh and aimed to provide advanced constructive solutions for sustainable construction.
January 5, 2018- India based leading adhesive and construction chemicals manufacturing company Pidilite Industries Limited has announced acquisition of majority 70% stakes in CPIY Polyurethanes Pvt. Ltd. CPIY Polyurethanes Pvt. Ltd engages in in the business of manufacture and sale of floor coatings using polyurethanes, epoxies, polyurea and polyaspartic polymers. With this acquisition Pidilite is able to participate in the growing market of the resin flooring and floor coatings market.
November 15, 2017- Sika Abyssinia, part of Swiss group Sika AG, a firm engaging in specialty chemical company providing building & construction solutions announced inauguration of its first facility in Ethiopia. The move came after the projected high potential of the surrounding region for development in construction chemicals segment. This new plant started the production with a full range of Admixture products such as retarder, plasticizer, water reducer, accelerator, super plasticizer and waterproofing.
October 10, 2017- Germany based leading manufacturer of construction chemicals has inaugurated the all new plant at Saint Petersburg in Russia. The move by BASF is line with its goal to provide the innovative solutions, advanced services, expertise and technologies which will support their customer base in the overall Russian economy.
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