The Europe Construction Chemicals market is expected to register a CAGR of 5.38% in terms of revenue during the forecast period, 2018 to 2023. Germany had the largest market share, accounting for around 18% of the regional market share, in 2017. Increasing construction activities in Europe is expected to drive the market, during the forecast period.
Increasing Construction Activities in the Europe Driving the market
Western Europe, despite being a mature economy, is expected to show diminutive growth when compared to the Central and Eastern European countries. The growth in the European industry is expected to be supported by various factors, such as, lower interest rates, increase in real household disposable income and numerous investment plans by the European Union. The number of residential buildings increased by around 9% in 2016, with major contributions from Slovakia, Spain, Germany, Sweden, and the United Kingdom. The non-residential buildings or commercial buildings segment is expected to also increase by around 5.5%, with a significant growth in Hungary, Spain, Belgium, Finland, and Germany, in 2017-18. Moreover, the civil engineering segment that suffered due the financial crisis has gained momentum, with the European Commission’s Investment Plan for Europe. Hence, with such expansions in the commercial construction activities in Europe, the demand for construction chemicals in the region is projected to increase substantially, during the forecast period.
Concrete Admixtures the Dominant Product Type
Concrete admixtures are the ingredients added to the concrete mixture before or during mixing. Concrete admixtures reduce the concrete construction cost, by modifying the properties of hardened concrete, ensuring better quality during mixing, transporting, placing, and curing. This helps in overcoming emergencies during concrete operations. Based on function, these chemicals are categorized into water reducing, retarding, accelerating and super-plasticizing, and viscosity modifier, among others. The demand for concrete admixtures is increasing at a rapid rate.
Germany to Dominate the Market Growth
The construction industry in Germany is majorly dominated by the public and private sector investments in infrastructure, residential, and industrial construction projects, and energy. The residential construction segment is expected to grow, due to the rapid urbanization, population growth, and to balance the demand and supply for housing. Additionally, the increasing need for schools, government offices, and healthcare facilities is expected to boost the construction industry in the country. The growth in the construction segment is expected to boost the construction chemicals market in the country, during the forecast period.
Key Developments in the Market
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