6 February 2020 - The global
Construction Chemicals Market is
anticipated to reach USD 67.61 billion by 2024, expanding at a 6.3% CAGR during
the forecast period. Rising requirements from numerous end-use industries
including residential & non-residential and infrastructure is expected to
drive the market growth over the next nine years.
In addition, the market
expansion is expected to be driven by rapid shift towards urbanization and
rising focus towards infrastructure development in emerging economies.
Moreover, government initiatives in emerging economies such as India are also
presumed to drive the market growth.
On account of stricter
environmental regulations, the market participants are focusing on research and
development activities to come up with new products complying with guidelines
established by various regulatory bodies. Application of biochemical as
construction chemicals is at its initial stage, that could prove to be a
revolutionary technology in future. Emerging countries such as India and China
are presumed to fuel the market owing to various upcoming infrastructure
projects under development. China was the major construction market accounting
for over 20.0% of the global share in the year 2015.
The market growth is also
expected to witness a significant growth on account of rising rate of mergers
and acquisitions by major players in the market. In addition, technological
innovations have resulted in the rise in usage of other specialty chemicals
which consist of chemical flooring, surface coating chemicals, grouting
compounds and structural adhesives.
Product Insights
In terms of market volume
share, concrete admixtures accounted for 64.07% in the year 2015 on account of
its wide usage in concrete to strengthen its chemical and physical properties.
Its applications include all types of constructions such as residential and
non-residential infrastructure. The product improves the strength of the
construction by providing strong durability, enhanced durability, chemical
resistance and considerably lowering cement and water requirement.
Super plasticizers and
plasticizers are broadly utilized as concrete admixtures. Super plasticizers
are suitable for pre-stressed concrete as majority of the products are chloride
free. Chloride causes an oxidation reaction with metals, which then causes
corrosion, weakening the building structure.
End-use Insights
Infrastructure and
non-residential industry accounted for over 60% of the total market revenue
share in 2015. Construction chemicals are applied in non-residential segments
such as hotels, office spaces, retail, erection of warehouse and industrial
buildings. The growth for infrastructure activities is driven by government
initiatives in developing economies which consist of India, China, Brazil and
Mexico. In addition, the market growth is anticipated to be fueled by growing
trend towards metropolitan developments caused an increase in the need for more
residential buildings.
The expansion of the
residential & non-residential segment is caused by growing per capita
income together with strengthening economic policies in the emerging economies.
Overseas investments have increased in the recent years in Asia Pacific, which
is also propelling the growth.
Regional Insights
With a market share over 45%,
the Asia Pacific region was valued as the largest market for the product
globally in 2015. India and China are the key markets in the region
contributing over 50% of the total regional market size. The growth of
construction chemicals market is directly associated with the development of
construction sector.
Asia is presumed to witness an
investment of about USD 8.0 trillion by the year 2020 according to the Asia
development bank. Growing urbanization trend and increasing disposable income
of population in countries such as India, Vietnam and China has generated a necessity
for better transport systems, water & sanitation facilities and buildings.
Further, numerous international investors are focusing on re-allocating their
capital in APAC.
Construction and
infrastructure activities have seen a rapid growth in the country since the
launch of 2011-20 Economic Transformation Program (ETP) by the Malaysian
government. The construction sector in Vietnam was valued at USD 24.0 billion
in the year 2012. All these factors are projected to result in the consistent
growth of construction industry in APAC region, which in turn will cause a high
growth of construction chemicals in this region.
Competitive Insights
The major players in the
global construction chemicals market are FOSROC chemicals, BASF SE, Grace &
Co., Arkema S.A., Dow chemicals, Pidilite Industries Ltd., Mapei S.P.A and RPM
International Inc. The market is extremely competitive in nature with key
players engaged in product innovation and R&D.
Market players are trying to
enlarge their customer reach through various strategies which consist of new
product launches and exhibitions. The U.S. based manufacturer, Dow Chemicals is
a key player in this market. The firm manufactures a wide range of sealant
products and adhesives. Strategic agreements and launching innovative products
has helped the company to preserve their position in the construction chemicals
market globally.
Market Segment:
Construction Chemicals Product Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2013 - 2024)
• Concrete Admixtures
• Concrete Adhesives
• Concrete Sealants
• Protective Coatings
Construction Chemicals End-use Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2013 - 2024)
• Residential
• Non-residential & Infrastructure
Construction Chemicals Regional Outlook (Volume, Kilo Tons; Revenue,
USD Million, 2013 - 2024)
• North America
• U.S.
• Europe
• Germany
• Italy
• France
• U.K.
• Asia Pacific
• China
• India
• Japan
• South Korea
• Latin America
• Brazil
• Middle East & Africa (MEA)
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