Global Construction Chemicals Market Analysis by Knowledge Sourcing Intelligence

 Global Construction Chemicals market is projected to witness the growth at a CAGR of 6.39% during the forecast period to reach the total market size of US$38.516 billion by 2021 from US$28.259 billion in 2016.  The Global Construction Chemicals market accounts for a large number of global market players, including BASF, Arkema, and Dow Chemical Company. This results in low switching costs from one supplier to another, leading to the low bargaining power of suppliers. Global companies manufacturing various construction chemicals rely on strategic mergers and acquisitions and partnerships to enhance the production capacity and technology levels while expanding the global footprints. For instance, in December 2016, Arkema acquired Den Braven, a European leader in high-performance sealants for insulation and construction.  

An emerging trend of constructing smart buildings in metropolitan cities further fuels the demand for advanced construction chemicals. Supportive initiatives and high spending by governments for building roads, dams, tunnels, and bridges are also influencing the construction industry growth, and thus, the growth of the construction chemicals market globally. Furthermore, increased manufacturing activities in both developed and developing regions require new factories which also contribute to the augmenting demand for construction chemicals.