Global Construction Chemical Market Trends has been one of the largest manufacturing industries of the world. Air, water, natural gas, metals, oils and minerals are the raw materials that are generally processed to manufacture a variety of chemical products used across the globe.
The global chemical market is segmented on the basis of product type and geography. On the basis of product type the market is segmented into protective coating, adhesive sealants, concentrate mixtures, Asphalt additives and frame retardants. The largest share in the market is accounted by protective coating. To resist from high level of wear and tear, paints, primers, lacquers, varnishes and stains are used as protective coating. On the basis of geography, the market is segmented into America, APAC and EMEA.
According to the report, “Chemicals Market Global Report 2017”, in 2016, it has been observed that about 60% of the market share was accounted by Asia and it became the largest region in the chemicals market. Asia Pacific chemical market has been the fastest growing because of excellent performances by China and India. Half of the sales of Asia chemical market were accounted by China itself. Singapore and Japan regions have also been important markets in Asia. The main reasons for growth in Asian region have been the low cost of labour and concentration of manufacturing industries which further led to dominance in global market. With the market share of 20%, America has accounted the second largest region and with 19% market share, Europe followed with the third largest region across the globe.
Recently, in order to eliminate the negative impact of chemical manufacturing on environment, sustainable and eco-friendly methods are being used by chemical companies in large amounts. Due to innovation and development in the chemical market, the companies have started using alternative fuels to produce chemical products like- use of carbon dioxide which is naturally available, industrial products and other substances. To produce high concentrated detergents, methasis is being used, which is a green technology. It reduces energy consumption that further minimizes the harmful effect on environment.
BASF, Mapei, RPM, Sika and W.R. Grace &Co. are the major vendors in the global chemical market. Many local vendors of the region also dominate the global chemical construction market by offering the products at low cost.
There has been a significant rise in demand for investment in construction project and also chemical construction demand in repairing old monuments and buildings. Due to changing trends and fast growing lifestyle, the requirement for housing has increased which has considerably resulted in more demand for construction chemicals. The demand for eco-friendly construction material is increasing. Therefore, manufacturers are continuously developing chemicals to meet the demands like- water bone protective coating which provides benefits like self-cleaning features and graffiti resistance.
The global market is all set to register higher revenues in the years to follow, welcoming the advancements in technology and supporting the increasing demands for newer types of chemicals.
Key Factors Considered in the Report
Asia-Pacific Chemical Market Size
Global Chemical Market Manufacturers
Global Construction Chemical Market Trends
Canada Chemical Market Research Report
US Chemical Market Research Report
China Chemical Market Research Report
India Chemical Market Research Report
To know more about the report:
Ankur Gupta, Head Marketing & Communications