Surge in urbanization activities, compliant manufacturing standards, and the growth of the construction industry across the globe fuel the growth of market.

PORTLAND, OREGON, UNITED STATES, September 10, 2020 /EINPresswire.com/ -- Surge in urbanization activities, compliant manufacturing standards, and the growth of the construction industry across the globe fuel the growth of the global construction chemicals market. However, lack of awareness among consumers and varying regulatory scenario restrain the market growth. On the other hand, increase in awareness related to energy conservation and long-lasting infrastructure offer new opportunities in coming years.

According to the report published by Allied Market Research, the global construction chemicals market generated $31.98 billion in 2018, and is expected to generate $50.6 billion by 2026, witnessing at a CAGR of 5.9% from 2019 to 2026. The report offers an extensive analysis of changing market trends, key segments, major investment pockets, market size & projections, and leading market players.

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Based on type, the construction chemicals market is further segmented into concrete admixtures, sealants & adhesives, water proofing & roofing, repair, flooring, and others. Among these sub-segments, the concrete admixtures and water proofing & roofing segments together held the largest market share of the market in 2018, contributing to nearly two-thirds of the total market share. However, the concreate admixtures segment is estimated to maintain its fastest growth rate by 2026, owing to increase in consumption in developing nations in the Asia-Pacific region along with huge number of construction projects.

Based on application, the market is further classified into residential, infrastructure, industrial/commercial, and repair structures. Among the segments, the residential and infrastructure segments together accounted for nearly three-fifths of the total share of the global construction chemical market in 2018, and is estimated to maintain its dominant position during the forecast period, owing to surge in demand of construction chemicals for these applications along with rapid urbanization across the world.

Geographically, Asia-Pacific contributed to the highest market share in 2018, holding more than two-fifths of the market, and is estimated to maintain its leadership status based on revenue during the forecast period. Moreover, this segment is estimated to witness the highest growth rate with a CAGR of 6.7% from 2019 to 2026. In addition, North America is estimated to portray a CAGR of 4.4% throughout the forecast period. The report also discusses Europe and LAMEA.

Leading market players analyzed in the research include BASF SE, Ashland Inc., Arkema SA, Mapie S.p.A, Fosroc International Limited, RPM International Inc., Pidilite Industries, The Dow Chemical Company, Sika AG, and W.R. Grace & Company.

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