Global demand for construction chemicals has been witnessing above average growth in recent times, a trend that is likely to sustain at least over the medium term.
As a rule, consumption of construction chemicals has a direct correlation with the level of ongoing construction activities around the globe. This further depends on the existing status of the construction market, urbanization and the degree of industrialization in a specific region.
Developing economies of Asia-Pacific, Middle East & Africa and South America are the primary construction markets that have been growing and would continue to grow rapidly, leading to a corresponding increase in consumption of construction chemicals.
The populations in these regions, too, tend to grow at a much faster rate that the developed economies, signifying a constant need for construction activity to be maintained. In addition, huge spending by governments for providing housing and boosting infrastructure is likely to bolster demand for construction chemicals in these sectors.
Existing trends in the construction market indicate an increased use of ready-mix concrete and wider demand for non-hazardous and sustainable construction chemicals. Another trend that has been gaining in traction is the use of carbon nanotubes in flame retardant materials that are employed in construction.