Sustainable development and green innovation have transformed the nature of construction industry. Countries across the world are rapidly advancing towards practices, systems, and products that fit into the agenda of sustainable development. In the construction industry, prominent manufacturers are accelerating the drive towards green building technologies. Against this backdrop, the construction chemicals market is well-positioned to achieve new milestones in revenue generation. In the near future, climate-conscious governments are expected to increase their investments in the construction chemicals market as they aid in heat reflection and insulation. Moreover, there has been a steady rise in construction projects across the globe. Being cognizant of these positive trends, prominent manufacturers in the construction chemicals market are poise to engage in high-value collaboration and intense R&D initiatives. In the upcoming years, these factors are set to unleash the sound economic potential of the construction chemicals market.
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Growing Emphasis on Green Innovation Unlocks High-Value Business Outcomes
Strong international commitments towards sustainable development and innovation have translated into unique business outcomes for all heavy industries. The construction sector, in particular, has witnessed a welcome shift towards green building regulations, renewable energy, and infrastructure conservation projects. These trends have dramatically increased the demand for ecofriendly construction technologies, green chemicals, and green innovation. All these positive developments bode extremely well for the construction chemicals market. In the near future, global goals to realize sustainable innovation are expected to augment the demand for green construction chemicals, creating lucrative opportunities in the construction chemicals market. This market trend is soon poised to gain momentum owing to favorable government incentives, strategic public-private partnerships, sound advancements in construction technologies, and marked increase in demand for waterproofing technologies.
Increase in Construction Projects to Soar Demand for Construction Chemicals
Both emerging and leading economies are highly engaged in various infrastructure development or renovation projects. Growth is especially pronounced in the residential sector – a trend that is expected to garner significant traction. In the public sector, government expenditure on the construction of roads, tunnels, hydel power projects, and dams is predicted to open novel revenue streams in the construction chemicals market. Notably, the civil repair sector is anticipated to record a remarkable surge in demand for construction chemicals. This is primarily owing to their ability to enhance concrete strength. Key players in the construction chemicals market are also expected to attract profitable opportunities due to the growing need to prevent degradation of buildings from harsh climatic conditions and stringent regulations regarding the same.
Robust Pursuit of Sustainable Development to Position Asia Pacific as Key Regional Player
The adoption of green building technologies and eco-friendly construction materials is highly promising in the Asia Pacific. In this region, emerging economies such as India have been witnessing a consistent shift towards sustainable construction. This move runs parallel to the rising demand for construction chemicals and increase in various construction activities. Additionally, governments in APAC carry an optimistic outlook towards sustainable construction, resulting in favorable policies and considerable increase in investments towards green construction practices. Over the assessment period, these growth drivers are projected to substantially expand APAC’s construction chemicals market.
The major players in the construction chemicals market include RPM International Inc., Dow Chemicals, MBCC Group, MAPEI, Sika AG, BASF, Pidilite, Arkema SA, Elotex, and Henkal KGA among some others.
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