San Jose, CA (PRWEB) July 25, 2007
Expected to maintain a robust CAGR of 7.72% over the analysis period, world construction chemicals market is likely to record sales of US$35.48 billion by 2010. Booming economies in the developing regions of Asia-Pacific (in particular, China and India) and Latin America continue to be primary growth markets for Construction Chemicals, while the mature western economies are forecast to exhibit a more sedate growth. Asia-Pacific, in addition to being the largest market for Construction Chemicals with an estimated 2006 share of 32.73%, is also forecast to be the fastest growing region, with a CAGR of 10.79% over the analysis period.
As stated by the recent report published by Global Industry Analysts, Inc., protective coatings and sealers market, with a share estimated at 46.66% in 2006, forms the largest segment, while cement and asphalt additives market, is expected to emerge as the fastest growing segment. Other product segments independently analyzed include caulks and adhesives market, grouts and mortars market and polymer flooring and others market.
Of the end use applications for construction chemicals analyzed, residential construction market, with an estimated share of 33.41% in 2006, constitutes the largest, while non-residential construction market, with a forecast CAGR of 8.38% over the analysis period, forms the fastest growing application. The third major end use sector for construction chemicals analyzed includes non-building construction market.
Construction industry, one of the vital constituents of the economy, contributes about 10% to the worldwide gross domestic product (GDP). US, Europe, Japan and Asia are the largest construction markets, controlling more than 70% of the construction market. Some of the most popular construction chemicals that are widely used in the construction industry include cement with admixtures, concrete admixtures, protective coatings and sealers, adhesives, caulks, flooring components, waterproofing, asphalt additives, concrete surface treatments and epoxies.
Large ongoing construction of buildings, dams, bridges, roads and tunnels all over the world vastly depends upon the supply of construction chemicals. Construction chemical industry is progressing with trends in the building material industry. Huge acceptance of ready-mix concrete and higher demand for advanced construction techniques have increased demand for high-performance construction materials. Governments have increased focus on developing infrastructure projects and increased investment outlay has opened up new avenues for worldwide construction chemical industry.
In recent times, Asia-Pacific and Latin American countries have transformed into high growth markets. The prospects lie in the fact that major growth in construction chemicals demand would be generated in developing countries. The underlying fact beneath the trend is that manufacturers are shifting their production facilities from developed countries to developing regions, which provide cheaper labor and robust demand for products.
The Asia-Pacific region in recent times has been soaring high with some vibrant and high growth economies. Regional nations such as China, India and Korea have displayed growth rates of a very high order. Other countries on the march are Singapore, Thailand, Malaysia and Taiwan. The major factors luring MNCs into these countries are low manufacturing costs and availability of cheap labor.
Growth and trends in the building material industry impact the growth of the construction chemicals market. Increased use of latest construction equipment, high acceptance of ready mix concrete and expansion of commercial cities have created greater demand for superior performance products.
Construction industry is moving towards using superior quality grade concrete from conventional concrete. This trend has created new opportunities for construction chemicals and admixtures market. Demand for most of the construction chemicals such as coatings, sealers, adhesives and cement additives has increased tremendously.
Construction industry all over the world is witnessing widespread development of infrastructure projects with governments making high investments in developing these projects. This automatically has led to higher demand for construction chemicals.
Major competitors profiled include Antas Chemical Co. Ltd., BASF AG, Bostik Inc., Franklin International Inc., GE Sealants & Adhesives Inc., Grace Construction Products Inc., Henkel KGaA, ICI Group, ITW Performance Polymers, Mapei SpA, Neogard Corp., PPG Industries Inc., RPM International Inc., Rohm and Haas Company, Selena USA Inc, Sika AG and TEC Specialty Construction Brands.
For more details about this research report, please visit http://www.strategyr.com/MCP-1587.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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