Construction Chemical Market - Industry Analysis, Size, Share, Growth, Trends & Forecast 2019-2025

DELHI, India - Nov. 18, 2019 - PRLog -- The Global Construction Chemical Market is anticipated to reach a market valuation of US$62.73 billion by 2025 expanding at a CAGR of 7.10% in the course of the forecast period (2019-2025). The construction chemical industry is dependent on the growth and demand of the construction industry. So, as the construction industry grows, the construction chemical industry would grow hand in hand. The construction sector is increasingly influenced by megatrends such as a shortage of resources and the impact of climate change. In order to meet the demands of these megatrends, there is a growing need to identify and develop chemical additives that provide optimal interaction between the various mineral substrates. Construction chemicals are essential for high-quality concrete and for the improvement of concrete performance they account for nearly 2% to 5% of the project cost but the benefits realized are far more than the increase in the cost of the project. The global constructing industry is growing in full swing. As per a report named Global Construction 2030 published by PwC, it has been forecasted that the volume of construction output will grow by 85% to $15.5 trillion worldwide by 2030, with three countries, China, US and India, leading the way and accounting for 57% of all global growth. The global construction growth has been predicted to be 3.9% per annum to 2030, outpacing that of global GDP by over one percentage point, driven by developed countries recovering from economic instability and emerging countries continue to industrialize. Rising industrialization paired with urbanization would increase the overall demand for residential and non-residential buildings and infrastructure. This would further drive the demand for construction chemicals on a global scale, majorly driven by developing economies such as China and India.

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