The Global Construction Chemicals Market is valued at USD 48.65 Billion in 2021 and is expected to reach USD 77.96 Billion by 2028 with a CAGR of 6.97% over the forecast period. Increasing demand in construction industry and growing demand for concrete admixtures & cement grinding aids are some of the major factors driving the growth of the Global Construction Chemicals Market.
Chemicals mixed with cement, concrete, and other construction materials to produce superior construction materials are called construction chemicals. Construction chemicals are chemical formulations used with cement, concrete, or other building materials during construction to hold building materials together. Chemical products, such as concrete admixtures, help reduce the amount of cement and water needed during construction. Construction chemicals are used by the construction and civil repair industries. These chemicals help to increase the strength and quality of concrete, provide water tightness, and protect concrete structures from atmospheric degradation. Some commonly used construction chemicals include concrete admixtures, sealants, adhesives, protective coatings, asphalt modifiers, and waterproofing agents. They are formulated using natural and synthetic resins, waxes, and solvents and are available in oil, resin, water, and organic chemical-based varieties.
The COVID-19 pandemic has negatively impacted the growth of the global construction chemicals market. The production unit experienced a shutdown in construction activities to slow down the transition rate. The industry suffered financial losses and working capacity. Changes in consumer behavior and changes in market trends were observed. Besides, the slowdown in global market growth had a major impact on the construction chemicals industry.
The global construction chemicals market is segmented on the product type, application, region & country level. Based on product type, the global construction chemicals market is segmented into adhesives & sealants, waterproofing chemicals, protective coating, asphalt additives, and concrete admixture. By application, the global construction chemicals market is segmented into commercial & industrial, residential, and infrastructure.
The regions covered in the global construction chemicals market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global construction chemicals is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
Some major key players for the global construction chemicals market report cover prominent players like -
One of the major factors in the growth of the construction chemicals market is the increasing demand in the construction industry. Construction is the process of building, altering, reconstructing, repairing, improving, or demolishing any structure. The increasing construction industry in developing economies is supporting the growth of the construction chemicals market, primarily driven by new construction and repair and rehabilitation sectors. According to the United States Department of Housing and Urban Development, 1,517,000 new residential construction permits were issued in the United States from the beginning of the year through August 2022. Similarly, in other countries around the world, citizens are focusing on building independent houses due to increasing disposable income. Due to this, construction is increasing in a big way all over the world. Besides, major countries contributing to this growth are China, India, and the United States. Hence, the growth in construction is expected to fuel the growth of the construction chemicals market.
In addition, the rising demand for green buildings is boosting the growth of the construction chemicals market. Green building materials use less water and are easier to maintain than comparable products, and they improve building durability and efficiency because they emit fewer carbon emissions. The main types of green building materials are for structural, exterior, and interior applications and are increasingly used in many sectors, including residential and non-residential building construction. For instance, according to the government of Canada, on April 17th, 2022, Minister Wilkinson advanced Canada's green building strategy and announced funding to revitalize community recreation centres. Budget 2022 committed $150 million to develop the Canada Green Building Strategy. Besides, in 2021, Canada certified 205 projects, representing 3.2 million gross square meters (GSM) of LEED (Leadership in Energy and Environmental Design) space. Construction chemicals are widely used as tile adhesives, bonding agents, expansion and crack joint filters, and plasticizers. They improve the overall quality and durability of buildings, as well as protect them against environmental hazards. Thus, the increasing development of green buildings across the world is driving the demand for the construction chemicals market.
However, fluctuations in prices and rates associated with construction chemicals may hinder the growth of the global construction chemicals market. Moreover, the growing demand for concrete admixtures and cement grinding aids is also supplementing the construction chemicals market's growth. Despite that, the growing emphasis of governments on green building standards and eco-friendly chemicals may create more opportunities in the global construction chemicals market.
Geographically, Asia-Pacific is expected to hold a significant share of the global construction chemicals market during the forecast period, owing to the growing construction industry, rising demand for concrete admixture, and technological advancement, all of which drive the market. The increasing construction industry is driving the growth of the construction chemicals market. For example, the government of India launched the Smart City Mission on February 20, 2021, with the goal of developing 100 smart cities across the country. As a result, rising construction spending is also driving market growth. For instance, according to a Brandessence market survey, in June 2022, China's GDP construction data was reported to be nearly USD 315.12 billion. In addition, the rising demand for concrete admixture is another factor supplementing the construction chemicals market's growth in this region. For example, on March 21st, 2019, BASF announced the launch of an innovative strength-enhancing admixture solution for the construction industry that significantly improves early-and late-age strength development in concrete. Therefore, many innovations in concrete admixture promote the growth of the construction chemicals market in the Asia-Pacific.
North America is the second-dominating region in the global construction chemical market. Increasing government initiatives to increase construction in the region, market players' investments in new products and business expansion, and other factors driving the growth of the North American construction chemicals market.
JSW Cement Enters the Construction Chemicals Market and Introduces Green Products.
On June 14th, 2021, JSW Cement entered the construction chemicals sector and launched a green product range in this category. The range includes ""Enduro Plast"" ready-mix plaster, ""Krysta Leakproof"" integral crystalline waterproofing compound, and ""Duraflor"" floorhardener. JSW Cement has set up a 0.3-million-tonne manufacturing facility at Ballari in Karnataka, India to manufacture its construction chemical product range.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 48.65 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 77.96 Billion|
|Tables, Charts & Figures:||175|
|key players / Manufacturers||GCP Applied Technologies, Pidilite Industries, SIKA AG, RPM International Inc., The DOW Chemical Co., Ashland Inc., Akzo Nobel NV, MAPEI, Arkema SA, Fosroc, Covestro AG, HB Fuller Company, Henkel AG & Co. KGaA, and others.|
|Segments Covered||By Product Type, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|