Construction chemicals have become one of the important components of chemical industry playing an important role in global infrastructure development. The global construction chemical market can be categorised as:
Construction chemicals are widely used in the construction of residential, industrial, commercial and infrastructure projects. Residential building has the major market share for construction chemicals followed by commercial buildings. Residential building is expected to maintain its dominance in the global construction chemical market because of the increasing number of residential projects.
The Asia Pacific region has the largest market share for construction chemical products, followed by Europe and North America. China is the largest market for construction chemical globally, accounting for more than one third of the global construction chemical market. China is expected to maintain its dominance owing to increasing domestic demand for residential and commercial buildings. Other countries which are expected to boost the global market are India, Brazil, Russia and Australia.
Increasing demand for public, commercial and residential buildings combined with increasing urban population is driving the global construction chemical market. Additionally, the increasing disposable income of individuals has created a demand for better-quality residential buildings, acting as a growth driver for the global construction chemical market. Demand for buildings, roads, bridges, tunnels and dams is further driving the market.
Improved growth prospects in the construction industry means that many multinational companies have started investing to develop advance construction chemical products. In 2012, globally construction chemical industries total investment on research and development of new products and applications was about 3% of total sales. Some of the major companies operating in the global construction chemical market are Axim Italcementi Group, The Dow Chemical Company, CICO Technologies Ltd, Ashland Inc., BASF, SIKA and RPM International.
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