The global construction chemical market is expected to witness a growth rate of 6.0% during the forecast period owing to increasing infrastructural projects. The rapid rise in the infrastructural projects has been witnessed over the years owing to the government and private investment in infrastructure development. Both developed and developing countries are focusing on encouraging their infrastructure activities as it is key for faster economic growth. For instance, better roads are required to transport the goods safely and at an accurate time. Delaying may lead to economic and reputation losses. Therefore, the government across the nations is investing a significant amount to upgrade their investment, which in turn, is contributing to the growth of the global construction chemicals market.
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In India, the infrastructure sector is a major driver for the Indian economy as it is a key to propel overall development of the country. As a result, the government is initiating policies that would ensure timely development of world-class infrastructure in India. The country is focusing on the development of urban infrastructure, power, bridges, roads, and dams. In 2018, India ranked 44th out of 167 countries in the World Bank’s Logistics Performance Index (LPI) 2018. The Indian government has allowed significant foreign direct investment in the construction sector.
Due to this rise in infrastructural projects, there is a significant number of construction chemical manufacturers operating in the region, which include FOSROC, SIKA AG, BASF, Pidilite and SWC (Structural Waterproofing Company Pvt Ltd). These companies are operating in the region to support infrastructure and residential construction activities and gain a significant market share from the construction sector. As a result, such a rise in infrastructural projects is supporting the growth of the global construction chemicals market.
Additionally, China plans to expand its investment in infrastructure operations. For instance, as per the People’s Republic of China, $119 billion will be invested in railway construction, nearly $250 billion in road construction and waterway projects in 2019. Nearly $81.5 billion is included in the central government budget for related investment in 2019, an increase of $5.7 billion from last year. The country will explore new kinds of project financing and lower as suitable capital contribution needs for infrastructure projects. This involves making good use of developmental financial instruments and attracts more private capital into projects in major areas.
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Global Construction Chemicals Market- Segmentation
By Product
- Concrete Admixture
- Concrete Adhesive & Sealants
- Protective Coatings
By Application
- Residential
- Non-Residential
- (This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
