Construction Chemicals Market Growing On The Back Of Growing Urbanization Of The Construction Industry In The Emerging Economies Due To The Rapid Migration Of People Into Developing Cities
Construction chemicals are specialty chemicals that are added to construction materials such as concrete, cement, coatings, and other materials to enhance the properties and functionality such as strength, durability, and environmental impact of construction materials. Construction chemicals aid in setting up sustainable infrastructure along with energy conservation in the construction industry to protect from environmental hazards and increase the durability of the buildings. One of the major applications of construction chemicals is in improving the performance of concrete and providing benefits such as usage of less water and concrete during construction activities.
The global construction chemicals market was estimated at around USD 37 billion in 2019, and by the end of 2026, the market value is anticipated to reach USD 62 billion. The analysts and industry players predict the global construction chemicals market growth of around7.5% in terms of CAGR.
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Construction chemicals are used during the construction of residential, and commercial buildings and infrastructures. Construction chemicals are used for the construction of commercial spaces such as hospitals, offices, educational institutions, hotels, etc, in a variety of industries such as cement, iron and steel, petroleum, etc, in infrastructure projects such as roads & bridges, railways, airports, etc, and the residential and public space sectors such as housing societies, houses, and statues and monuments. Based on recent trends, demand for concrete admixtures is on the rise. In March 2019, BASF SE launched a new admixture for the concrete industry called Master X-Seed STE. This product improves performance characteristics and strength development of the concrete and was specifically introduced in the Asia Pacific region. In June 2016, BASF SE established a new plant of concrete admixtures in Vietnam. This plant will let the company meet the increasing demands of the end-user industries for high-quality construction chemicals in Vietnam.
The growing global construction industry in the developing countries and the increasing new construction projects along with the rehabilitation and repair activities are anticipated to drive the construction chemicals market in the upcoming years. There is a high demand for construction chemicals from emerging economies such as India, South Korea, and China due to their growing population and rising construction projects associated with it. However, construction chemicals may contain dangerous VOCs such as acetone, formaldehyde, and butanol that are released through solid wood, floor wax, acoustic ceiling tile, and caulking sealant. Hence, government regulations on construction chemicals due to VOC emissions are anticipated to restrain the market growth.
Top Market Players
- 3M
- Arkema Group
- Ashland
- BASF SE
- Bolton Group
- Cemetaid (N.S.W.) Pty Ltd
- Chryso SAS
- CICO Group
- Conmix Ltd
- DowDuPont
- Fosroc Inc.
- Franklin International
- GCP Applied Technologies Inc.
- Henkel AG & Co. KGaA
- LafargeHolcim
- MAPEI SpA
- MUHU Construction Materials Co. Ltd
- Nouryon
- RPM International Inc.
- Sika AG
- Thermax Global
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Based on type, the global construction chemicals market can be segmented into concrete admixture, concrete adhesives, and concrete sealants, with the ‘concrete admixture’ category having the leading market share of about 39 percent. On the basis of application, the market is being bifurcated into non-residential & infrastructure, and residential. In terms of geography, among regions such as North America, Europe, Latin America, and Middle East & Africa, the Asia Pacific region held a prominent market share of around 40 percent and is anticipated to grow with the fastest CAGR in the forecast years.
Frequently Asked Questions
What is Construction Chemicals?
Construction chemicals are specialty chemicals that are added to construction materials such as concrete, cement, coatings, and other materials to enhance the properties and functionality such as strength, durability, and environmental impact of construction materials. Construction chemicals aid in setting up sustainable infrastructure along with energy conservation in the construction industry to protect from environmental hazards and increase the durability of the buildings.
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What are the key factors driving Construction Chemicals Market expansion?
The growing global construction industry in the developing countries and the increasing new construction projects along with the rehabilitation and repair activities is anticipated to drive the construction chemicals market in the upcoming years. There is a high demand for construction chemicals from emerging economies such as India, South Korea, and China due to their growing population and rising construction projects associated with it.
Which region will make notable contributions towards global Construction Chemicals Market revenue?
Asia Pacific construction chemicals market is anticipated to contribute remarkably towards the overall construction chemicals market size in the coming years. Currently, the Asia Pacific region held around 40% share of the global construction chemicals market.
Which are the key players leveraging Construction Chemicals Market growth?
Some of the leading and top Construction Chemicalscompanies in the global construction chemicals market include 3M, Ashland, Bolton Group, Chryso SAS, Conmix Ltd, Fosroc Inc., GCP Applied Technologies Inc., LafargeHolcim, MUHU Construction Materials Co. Ltd, RPM International Inc., Thermax Global, Arkema Group, BASF SE, Cemetaid (N.S.W.) Pty Ltd, CICO Group, DuPont, Franklin International, Henkel AG & Co. KGaA, MAPEI SpA, Nouryon, Sika AG among others.