|Forecast Period :||2018-2026|
|Base Year :||2018|
|Leading Market Segments :||Waterproofing Chemicals|
|Value in 2018 :||$226.41 Million|
|Research covered :||100+ Countries|
Global Statistics Representing Construction Chemical Market Scenario
Construction chemicals are the additivities that provides additional durability and functionality to various structures and are most commonly used with cement, concrete, and other construction materials. Products are primarily applied to achieve certain desired characteristics in concrete such as high compressive strength, high workability, and high performance and endurance parameters to meet the requirement of complexity of modern structures. Admixtures are used to alter properties such as heat of hydration, water reduction, dispersion and air-entrainment, accelerating or retarding setting time, impermeability and durability factors. Whereas, hardeners are used with structures to seal them against moisture and making them dustproof. These chemicals aid in moisture retention, provides enhanced bond strength, increases crack resistance and reduces drying time of mortar, improves the appearance and yield with same quantity of construction materials.
Trends in Construction Chemicals
Global construction chemical market was valued at USD 226.41 million in 2018 and is projected to reach a value of USD 369.39 million by 2026, registering a CAGR of 6.31% during the forecast period, 2019–2026.
Segmental Insights Trends
The global construction chemical market has been segmented by type, application and region.
On the basis of type, construction chemical market has been segmented into concrete admixtures, adhesives & sealants, waterproofing chemicals, flooring chemicals, repair & rehabilitation and others. Waterproofing chemicals is expected to hold significant share in global construction market owing to benefits offered such as strengthens the structure, prevents mold, reduce maintenance costs, health environment and Increase property Value.
Growing global construction and rapid economic growth in developing countries including India, china, and Brazil is fueling the growth of industrial, commercial, and pubic infrastructure in these countries is likely to surge the construction chemical market. For instance, according to the India Brand Equity Foundation (IBEF), India has requirement of investment worth USD 777.73 billion in infrastructure by 2022. However, unstable economic cycle and established infrastructure in developed economies might restrain the growth of the market. Increased usage of Ready-To-Mix Concrete (RMC) in developing economies and innovation in new products and services provides several opportunities to market players to strengthen their market position.
On the basis of application, the construction chemical market has been segmented into residential, commercial, industrial and others. Residential segment is expected to gain significant share in global chemical market during forecast period 2019-2026 owing to the growing awareness regarding construction quality and increase in urban population and formation of mega cities in developing countries. Additionally, increasing disposable income of individuals has influenced them to invest more in residential projects.
Geographically, the construction chemical market has been segmented into North America, Europe, Asia Pacific, Latin America and the Middle East & Africa.
North America is expected to witness a significant growth for construction chemical market during the forecast period 2018–2025 owing to the growing residential construction sectors along with the increasing usage of construction chemicals. U.S. is expected to dominate the regional market owing the growing number of residential new projects. For instance, U.S. Census Bureau, number of privately-owned housing units received the building permits is increased 1,273,000 to in June 2018, from approximately 950,000 in June 2013.
Europe is expected to be the second largest construction chemical market during the forecast period owing to the increasing number of projects regarding improvements in existing buildings and renovations. Construction sectors plays an important role in the growth of European Union (EU) economy as it contributes to about 9% of the EU's GDP. Huge construction industry and rising adoption of products are fueling the growth of Europe construction chemical market.
Asia Pacific is expected to be the largest market for the construction chemical market in terms of both value and volume during the forecast period primarily owing to the huge infrastructural projects in emerging economies including China and India. Governments’ continuous and intense focus towards infrastructural development, initiatives towards affordable housing projects are expected to further drive the demand for construction chemical market in the region.
Latin America and the Middle East & Africa is expected to witness a considerable growth for construction chemical market during the forecast period owing to the rising adoption of specialty chemicals in construction activities and growing number of construction projects.
Major key players operating in the global construction chemical market include BASF SE, Sika AG, MAPEI S.p.A., CHRYSO, GCP Applied Technologies, Cementaid International Group of Companies, Arkema S.A., Akzo Nobel Chemicals AG, Henkel AG & Co., and RPM International S.P.A. other vendors in the market include BOSTIK, UROMIX CHEMICAL SDN BHD, Fosroc International Limited, DowDuPont Inc., Lafarge S.A., Pidilite Industries., and Axelchem SDN BHD.
Global Construction Chemical Market Segmentation