The construction chemicals market is estimated at $19.9 billion in 2015 and forecasted to be $21.4 billion in 2016.
The construction chemicals market is estimated at $19.9 billion in 2015 and forecasted to be $21.4 billion in 2016. The market is expected to maintain a compound annual growth rate (CAGR) of 7.9% between 2016 and 2022, and reach a projected $33.7 billion by 2022. The highest demand is reportedly for concrete admixtures, and also the fastest growing on a global basis, projected to reach $12.4 billion by 2022, with a 2016-2022 CAGR of 8.9%.
Global demand for construction chemicals has witnessed above average growth in recent years, a trend that is likely to sustain at least over the medium term. Consumption of construction chemicals has a direct correlation with the level of ongoing construction activities. This further depends on the existing status of the construction market, urbanization, and the degree of industrialization in a specific region.