Construction chemicals are broadly used for waterproofing repairs, bonding agents, crack and expansion joint fillers, tile adhesives, retarders, plasticizers, air entraining compounds accelerators and others. Epoxy putty is a hardening substance utilized as a space-filling adhesive in the construction industry. Construction chemicals are mainly classified into product segments such as protective coatings and sealers, grouts and mortars caulks and adhesives, cement and asphalt additives and polymer flooring and others. All such construction chemical products are widely used in the end-user industries such as residential construction, non-residential construction and non-building construction. The rising demand from the rapidly growing construction industry across the globe, especially the Asia Pacific region, is expected to drive the global epoxy putty and construction chemicals market in the next few years.
The U.S. is the largest consumer of construction chemicals and epoxy putty across the globe and is closely followed by Europe and Asia Pacific regions. Latin America, Africa and the Middle East account for smaller portion of the market. Asia Pacific is expected to be the fastest growing market for epoxy putty and construction chemicals the next six years. The major reason for this is the growing demand from developing countries such as China, India and South East Asian countries such as Thailand, Indonesia, Vietnam and Malaysia. In addition, the countries in the geographies such as Africa, South America and the Middle East are showing remarkable economic growth since the last few years. These nations largely include South Africa, Brazil, Saudi Arabia, Egypt, Jordan, Qatar and Israel. Additionally, the U.S. and the European economies are gradually recovering from the economic slowdown.
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All such economic, industrial and demographic factors are ultimately creating a positive prospect for the global industrial scenario. Considering this positive industry outlook, construction and related industries are anticipated to record a staggering growth in the next six years. There is a mammoth market potential for the construction industry in the countries such as India, China, Indonesia, Qatar, Thailand and Brazil due to rapid infrastructure development taking place in these countries. Moreover, countries like Brazil and Qatar are hosting giant events such as Olympics and FIFA world Cup in the next few years and are developing numerous state-of-the-art stadiums and other infrastructure for those events. Owing to this, the demand for construction related products is expected to grow at a notable rate in the next few years. This will eventually generate a huge demand for epoxy putty and construction chemicals in these emerging nations. The major infrastructure companies are focusing on these developing nations for tapping their gigantic market potential in terms of infrastructure projects. The key producers of epoxy putty and construction chemicals are installing robust production facilities in these growing countries to meet the rising regional demand. Therefore, the global epoxy putty and construction chemicals market is expected to witness a substantial growth in the next few years.
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Some of the major companies operating in the global epoxy putty and construction chemicals market are 3M Company, Akzonobel N.V., Adco Inc., Arkema S.A., Albemarle Corporation, Ashland Inc., Bolton Group, BASF SE, Bostik Inc., Pidilite Industries Ltd., Cementaid (N.S.W.) Pty. Ltd., Cico Technologies Ltd., Chryso S.A.S., E. I. Dupont De Nemours and Company, Lafarge S.A., Fosroc International Ltd., Mapei South Africa Pty. Ltd., Muhu (China) Construction Materials Co. Ltd., Conmix Ltd., RPM International Inc., Sika AG, Terraco Holdings Ltd., Selena FM S.A., The Dow Chemical Company and W.R. Grace and Co. among Others.