According to the study Global Construction Chemicals, demand for protective coatings and sealers is projected to increase 5.1% per year to $25.2 billion in 2023. Growth will be boosted by ongoing gains in construction activity globally, as well as increasing demand for higher value, better performing products with improved functionality.

Demand for wipes used in healthcare settings is expected to increase 3.8% per year to $594 million in 2023. Gains will be driven by: • robust growth in hard surface disinfectant wipes sales, following concerns over the risk of cross-contamination and HAIs • continued adoption of wipes over alternative products, such as cloth rags and paper towels • advances in product innovation, encouraging new adoptions of wipes as well as higher pricing and market value • an aging population and increasing need for senior care

Fiber cement siding demand is forecast to grow 2.5% annually through 2023 to 22.1 million squares, valued at $1.7 billion. Fiber cement is the second largest siding material and will record healthy gains over this period because of the material’s: • ability to mimic the look of natural wood more effectively than vinyl products • increased use in high-end buildings as product quality continues to improve • affordability relative to brick and natural stone, whose aesthetics it can also replicate

“Sales of cabinets should continue to see solid growth as Americans continue to invest in kitchen and bathroom remodeling projects..."

Asbestos use is on the decline globally.

US new pool and spa installations are expected to grow 3.0% annually.

China will see the largest volume demand gains of any country.

Trends in China – the world’s largest national producer and purchaser of construction machinery – will underlie regional market gains.

Plastic roofing is forecast to post the strongest annual increases of any major low-slope roofing product through 2023, rising 1.5% per year, due in part to its ease of installation and low maintenance requirements. TPO remains the leading plastic roofing type, supported by its lower cost and comparable performance properties to PVC roofing.

According to the Global Silicones study, key market opportunities for silicones include solar panels in the electrical equipment segment; sensors and electric vehicles in the transportation market; medical adhesives and disposable medical devices; and components for cell phones, computers, and LEDs in the electronics market.