The global construction chemicals market (2015–2020) is estimated to reach USD 33.98 Billion by 2020 growing at a rate of 7.62% between 2015 and 2020.
The global construction chemicals industry is witnessing a significant growth because of increasing awareness about construction quality and technological advancements, and growing number of new projects for housing, commercial spaces, and public infrastructure in the Asia-Pacific region and other developing countries such as Brazil, Colombia, UAE, and Saudi Arabia.
Changing lifestyles, growing urbanization trend, and demand for enhanced esthetics of residential and infrastructures are also supporting the growth of the market, attributing to the design flexibility provided by construction chemicals (such as concrete admixtures, flame retardants, and adhesives & sealants) to modify and enhance the physical as well as chemical properties of a structure. These properties include compressive strength, durability, surface finish, and resistance to adverse climatic and working conditions as per design specifications and requirements.
The drivers identified for the construction chemicals market are growing infrastructure requirements in developing economies, improving economics of construction, and increasing urbanization of population. Developing countries that are major markets of construction chemicals include China, India, Brazil, Egypt, Saudi Arabia, and UAE, whereas developed countries that are major market include the U.S., Germany, Japan, and Italy.
Asia-Pacific is the largest market, both in terms of volume and value, followed by RoW.
The key companies in this market are BASF SE (Germany), W.R. Grace (U.S.), RPM International Inc.(U.S.), Sika A.G. (Switzerland), Fosroc International (U.K.), The Dow Chemical Comapny (U.S.), Arkema S.A. (France), Ashland Inc. (U.S.), Mapei S.p.A (Italy), and Pidilite Industries (India).
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Construction chemicals are chemical compounds added in formulation of various specialty chemicals or in construction materials made of cement, mortar, and concrete at construction sites to improve workability, performance, compatibility with construction structure and protect construction materials and finished structures.
Construction chemicals comprise a wide variety of materials such as cementations; admixtures like waterproofing admixtures, plasticizers, accelerating agents, retarding agents and others; adhesives and sealants like acrylic adhesives, polyurethanes, polyvinyl acetates, epoxy and others; and flame retardants like ATH, antimony oxides, brominated, and chlorinated. The use of these chemicals depends and varies on the type of and scale of construction projects.
The market size of construction chemicals depends on new construction and its maintenance and repair activities. The demand for construction chemicals is mainly driven by growing requirements for housing and infrastructure. It is also influenced by consumer awareness, need for durable and aesthetic civil structure, and other benefits achieved in making construction structure more economical for contractors and other interest holders. The restraints in the market are different across regions, such as mature infrastructure, logistic issues, and low investments in the infrastructure sector. The opportunities are identified in new product launches for various construction applications.
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