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.
Rising Sports Leagues, Regional as well as Global, to Boost the Epoxy Putty & Construction Chemicals Market
Epoxy putty & construction chemicals market demand is expected to increase over the forecast period owing to the surging population of sports enthusiasts, along with the growing number of regional as well as international sports leagues. In addition to this, factors such as rapid urbanisation, the growing popularity of these chemicals, and inflating disposable incomes are predicted to contribute towards epoxy putty & construction chemicals market share. The market is further being facilitated by the emergence of an e-commerce channel, which offers an extensive variety of premium-quality, legitimate merchandise in addition to providing a smooth shopping experience to customers at competitive prices. Moreover, the rising prevalence of construction chemicals and epoxy putty manufacturers is anticipated to assist the market growth in the coming years.
The wide application spectrum of epoxy putty, such as in adhesives, paints and coatings, electrical systems and electronics, and industrial tooling and composites, is predicted to bolster the epoxy putty & construction chemicals market size. The potential benefits and successful large-scale implementation of the construction outsourcing model in the United States is an emerging trend that is expected to boost the demand for epoxy putty and construction chemicals in the region.
The market is expected to be driven by the various product launches and acquisitions by market key players. In addition to this, several opportunities exist in the construction chemicals market, which is expected to push the market development over the forecast period.
In February 2022, Nuvoco Vistas Corp. Ltd. launched Zero M Epoxy Tile Grout in Delhi, Haryana, Punjab, and West UP. Zero M Epoxy Tile Grout offers distinct features like flexural, high compression, resistance to acids and corrosive agents, and shear adhesion strength, and is applicable in commercial and residential spaces. These value-added products are recommended for bathrooms, kitchens, terraces, swimming pools, and balconies.
In January 2019, Birla Corporation Limited announced the debut of wall putty and construction chemicals as an add-on to Perfect Plus, its premium brand of cement. The company has launched three products, namely Latex and Perfect Plus Wall Putty, Perfect Plus SBR (styrene butadiene rubber), and Perfect Plus IWP (integral waterproofing). Birla Corporation has a yearly production capacity of 15.5 million tons. With this launch, the company is likely to develop new partnerships with retailers of construction materials, including hardware and paints.
These insights are based on a report on Epoxy Putty and Construction Chemicals Market by Future Market Insights