The report forecasts the global construction chemicals market to grow at a CAGR of 5.59% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Regulatory changes toward green and energy-efficient buildings are driving the demand for eco-friendly construction chemicals. Water-based reactive formulations are being encouraged over solvent-based formulations to support and meet the emissions regulations. Product reformulations and other efforts are made to make solvent-based products environmentally friendly. Polyurethane- and silicone-based adhesives and sealants are expected to report hasty benefits due to their higher performance. In addition to reactive adhesives and sealants, hotmelt products also foresee a healthy demand from various applications owing to their rapid cure rates, which in turn helps in fast processing. Also, hotmelt products do not emit VOC and do not pose any other harmful effects on the environment; therefore, the use of them are being encouraged by various vendors.
According to the report, the global construction chemicals market is witnessing technological advances in production capacities and also in the enhancement of adhesive and binder properties. This has led to the development of new and improved applications of adhesives and binders. Also, owing to environmental concerns of VOC emissions, manufacturers are focusing on the development of new products. They are producing adhesives with no-added formaldehyde (NAF) resins to sustain the environmental pressures. Wood adhesives and binders with high binding strength, durability, temperature resistance, and chemical-resistance are being manufactured, which provides customers with cost-effective solutions.