According to ‘Construction Chemicals’, a new report by The Freedonia Group, Inc., demand for construction chemicals used in onsite applications in the US is expected to reach US$12.1 billion in 2018, rising by an estimated 8.2% a year.
This increase has been attributed to a number of factors, including double-digit growth in building construction expenditures, the improving economic outlook and government investment in infrastructure.
“Following several years of recovery, a fully healed US housing market will lead to a jump in new residential construction activity,” explains analyst Nick Cunningham, adding that nonresidential building construction activity is also expected to increase significantly. Meanwhile, investment in infrastructure will boost demand for nonbuilding construction chemicals, particularly cement and asphalt additives and coatings. US demand for onsite cement and asphalt additives is projected to grow by 11.2% a year through 2018 to US$2.83 billion.
According to the report, the product mix will move towards new, higher value formulations and the technologies in response to the introduction of more stringent building codes and environmental regulations. New concrete technologies, such as high performance and self-consolidating concrete, will also drive demand for chemical additives and coatings.
Adapted from press release by Louise Fordham
Read the article online at: https://www.worldcement.com/the-americas/04022015/us-demand-for-construction-chemicals-to-increase-271/