Global Construction Chemical Market is expected to foresee significant growth. APAC to lead the growth!
- Vikas Kumar
- September 11, 2021
- BUILDING MATERIAL AND CONSTRUCTION
- 0 Comments
Construction Chemicals are chemical formulations used to hold the construction material together. Construction chemicals such as concrete admixtures, asphalt modifiers, adhesives, sealants, grout and mortar, insulation, protective coatings, and other products are used in improving workability, enhancing performance, adding functionality, and protecting structures from weather and pollution. Additionally, construction chemicals help in enhancing concrete strength and quality, provide watertightness, and protect concrete structures from atmospheric degradation.
The Construction Chemical Market is expected to grow at a steady rate of around 7.8% owing to the increasing awareness regarding green construction. For instance, in Jun 2021, JSW Cement entered the construction chemicals biz and launched green products. The range comprises ‘Enduro Plast’ ready mix plaster, ‘Krysta Leakproof’ integral crystalline waterproofing compound, and ‘Duraflor’floorhardner. Additionally, the growing adoption of construction chemicals in the construction industry. For instance, BASF launched a new brand for the construction industry. The chemical solutions for new construction, maintenance, repair, and renovation of buildings and infrastructure: concrete admixtures, cement additives, chemical solutions for mining and tunneling, waterproofing, concrete protection and repair products, grouts, and high-performance flooring products.
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Based on product type, the market is segmented into concrete admixtures, construction adhesives, concrete sealants, asphalt modifiers, protective coatings, and others. The concrete admixtures category is to show dominance in the market. Concrete admixtures are a type of construction chemical that is added to the concrete mix before or during mixing. These admixtures modify the properties of fresh and hardening concrete, such as setting time, workability, and strength development. Also, many major players are launching new products in the market to provide better binding of the concrete. For instance, in Feb 2022, Euclid launched three new admixtures at World of Concrete. The three admixtures are EUCOSHIELD is a ready-to-use liquid admixture designed to be used as an integral finishing aid that prevents rapid moisture loss from the concrete surface by binding the internal water in the pore structure; EUCON Eco-Strength improves both early- and late-age strength development in concrete; Eucon AM-10L is formulated to interact with concrete capillary pore structures to provide a system that greatly reduces the permeability of concrete through the formation of tiny crystals that block the pores.
Based on application, the market is categorized into infrastructure, residential, and non-residential. Among these, the residential category is to show dominance in the market. This is mainly due to the rising populations, urbanization, and increasing demand for affordable housing. Also, homeowners are becoming increasingly concerned with the quality and durability of their homes and are looking for products that will ensure the longevity and performance of their structures. Thus, that can be provided with the use of construction chemicals which is escalating the growth of the market.
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For a better understanding of the market adoption of the construction chemical industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Italy, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, Rest of Asia-Pacific), Middle East & Africa (Saudi Arabia, UAE, Qatar, South Africa, Rest of MEA), South & Central America (Brazil, Rest of South & Central America). APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to rapid urbanization, a growing economy, government initiatives, rising awareness of building codes and standards, and increasing demand for high-quality and durable building structures. Furthermore, the government of China has been investing heavily in the construction of new infrastructure, including roads, bridges, airports, and high-speed rail lines, as part of its ongoing economic development plan. This has created a significant demand for construction chemicals, which are essential for ensuring the quality and durability of these structures. Thus, increasing the demand for construction chemicals in the region.
Some of the major players operating in the market include RPM International Inc., Arkema S.A., BASF SE, Fosroc, Ashland Global Holdings Inc., DuPont, Sika AG, CICO Technologies Limited, Bostik, and Mapei Group.
Global Construction Chemical Market Segmentation
Market Insight, by Product Type
· Concrete Admixtures
· Construction Adhesives
· Concrete Sealants
· Asphalt Modifiers
· Protective Coatings
· Others
Market Insight, by Application
· Infrastructure
· Residential
· Non-Residential
Market Insight, by Region
· North America
o U.S.
o Canada
o Rest of North America
· Europe
o Germany
o U.K.
o France
o Spain
o Italy
o Rest of Europe
· Asia-Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
· Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of MEA
· South & Central America
o Brazil
o Rest of South & Central America
Top Company Profiles
· RPM International Inc.
· Arkema S.A.
· BASF SE
· Fosroc
· Ashland Global Holdings Inc.
· DuPont
· Sika AG
· CICO Technologies Limited
· Bostik
· Mapei Group
