Asia construction flooring chemicals market consists of specialty chemicals which are chemical compounds added in construction materials, such as cement and concrete to improve the performance, enhance workability, protect and hold construction material and to provide make the structure strong and bonded together. There is a need for more houses due to increasing population which demands for more residential construction activities, such as the development of large-scale infrastructure, industries, and commercial spaces. Therefore, a visible growth in the construction sector and modernization are the key factors responsible for the growth in construction flooring chemical market. Emerging economies such as China and India, offer more number of opportunities with rapid urbanization and industrialization. Asian population are investing heavily on construction flooring chemicals due to high disposable income, increasing interest in home improvement and renovation project activities. The increasing adoption of innovative construction procedures in construction activities such as ready-to-mix concrete is driving the market for construction flooring chemicals.
According to the study “Asia Construction Flooring Chemicals Industry Situation and Prospects Research report”, the construction flooring chemical market will witness an expansion over the next few years due to a strong growth in commercial sector, industrial sector, increase in home improvement and renovation projects. The construction flooring chemical market accounts for a largest share in the Asian markets and also offers many benefits such as, noise-reducing effect, dust-binding, insulation provides warmth, comfort and pleasing aesthetics. The construction flooring chemical market in the non-resilient flooring category are used for designing floor, wall fittings, provide protection from rain or moisture, high impacts and chemical spoilage. The key requirements for construction flooring chemicals are to ensure low maintenance, resistance towards moisture, resistance towards water, durability and ease of installation.
The construction flooring chemicals market is categorized into various product types such as epoxy resins, vinyl resins, polyurethanes, polymethyl methacrylate (PMMA) resin and others. All the leading manufacturers are increasingly focusing on creating strong brand names, offering well-established products, and exhibit long-term reliability. The vendors are increasingly competing against each other based on factors such as price, features, and product quality. Manufacturers are investing heavily in technological developments and have excelled in enhancing the existing floor coatings with various properties. The leading players in Asia construction flooring chemicals industry are BASF, Dow Chemicals, Sinopec, Exxon Mobil, SABIC, DuPont, Ineos, LyondellBasell Industries, Mitsubishi Chemical Corporation, LG Chemicals, AkzoNobel, Mitsui Chemicals, Forbo Holdings, Toray Holdings, PPG Industries, Tremco, Huntsman and Borealis AG.
Construction flooring chemical market is categorized based on type of material such as soft covering, resilient, non-resilient and others. They are used in residential, industrial, commercial, infrastructure and repair structure constructions. There are various flooring products available in Asian markets such as resilient flooring such as cork, wood, rubber, vinyl, asphalt, and linoleum; non-resilient such as ceramic tile, clay tile, concrete tile, terrazzo stone, and brick are extensively used for residential, commercial, infrastructure, and others. Epoxies, vinyl resins, polyurethane and PMMA are the most used chemicals in Asian flooring industry. Petrochemical industries in Asia are going renewable with glycerol as an intermediate which is used in the production of finished floor covering chemicals.
The major driving factors in the construction flooring chemicals market are the need for durable flooring, impact resistant flooring solutions in manufacturing facilities such as laboratories and metal industries. This is to ensure safety, hygienic, and reducing volatile organic compounds emissions in the industrial environment. The construction flooring chemicals market prefers long-term existence and sustainability of concrete floorings and the use of resins coatings and polyurethane is propelling the demand. China is the largest consumer of construction flooring chemicals market in Asia due to continuing improvements in economic conditions. Industrialization in China is moving at a fast pace providing more opportunities to the growing population. The development of commercial buildings such as luxury resorts, food chains, shopping malls, coffee outlets, airports and sports stadiums will witnessing an indirectly demand of construction flooring chemicals market over the next few years in Asian countries.
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Ankur Gupta, Head Marketing & Communications