Published: Nov-2019
Pages:241
Table:102
Figure:136
Report ID:UMCH19193
The Global Construction Chemical market generated revenue of US$ 39.0 billion in 2018 and is expected to grow at a CAGR of 7.10% during the forecast period 2019-2025. Construction chemicals are additives that are used with concrete, cement, or other construction materials to provide additional durability and workability to infra structures. The type of chemical to be used depends on the size and nature of the project. Construction chemicals are used to obtain certain desired characteristics in concrete such as high workability, high compressive strength, and high performance and durability to meet the requirement of complexity of modern structures. Hardeners are used with structures to protect them against moisture and making them dustproof by bonding the crystalline structure of cement. Construction chemicals are the chemical compounds used to modify the properties of the construction materials. These chemicals reduce the amount of water used in any construction project. They play a crucial role in improving the overall performance of a building and non-building structures. These chemicals can be categorized into different product segments including concrete admixtures, construction adhesives, construction sealants, protective coatings, and waterproofing chemicals.
The global constructing industry is growing in full swing. As per a report named Global Construction 2030 published by PwC, it has been forecasted that the volume of construction output will grow by 85% to $15.5 trillion worldwide by 2030, with three countries, China, US and India, leading the way and accounting for 57% of all global growth. The global construction growth has been predicted to be of 3.9% per annum to 2030, outpacing that of global GDP by over one percentage point, driven by developed countries recovering from economic instability and emerging countries continuing to industrialize. Rising industrialization paired with urbanization would increasing the overall demand for residential and non-residential building and infrastructure. This would further driver the demand for construction chemicals at global scale, majorly driven by developing economies such as China and India.
Strategic Responses of Construction Chemical and Additive Material Companies to Major Opportunities
“In 2018, Concrete admixture product segment dominated the market and is expected to lead the market by 2025”
Based on products, the market is segmented into Concrete Admixtures, Concrete Adhesives, Concrete Sealants, Asphalt Modifiers and Protective Coatings and other applications. In 2018, Concrete admixture product segment dominated the market with 27.5% share and is expected to lead the market by 2025. Concrete consists of cement, sand, aggregate and water. Anything other than these if added in concrete either before or during mixing to alter the properties are termed as admixtures. Further, the use of admixtures offers certain beneficial effects to concrete such as improved workability, acceleration or retardation of setting time, reduce water cement ratio etc. Adhesives used in construction industry are classified by function into two broad categories, structural and non-structural. Structural adhesives are used to bond materials which must withstand loads or stresses acting to compromise structural integrity. It is used to build roads, parking lots, airport runways, sidewalks, tennis courts, playgrounds and bike paths. Finally, protective coatings are a simple way to reduce corrosion, by limiting the exposure of the metal to a corrosive environment. Paint is a very common protective coating, but tar, pitch, bitumen and plastics are also used as an alternative.
“Residential segment dominated the global construction chemical application segment, accounting for 34.6% share in 2018”
Based on the application the report segments the market into Infrastructural, residential and non-residential. The commercial building industry has experienced unprecedented growth in recent years. Its transformation is mainly owed to technological advancements and a shift in project management techniques. Further, the infrastructure segment includes public utilities projects such as bridges, roads, rail tracks, airports, highways, water supply and resources etc. Increasing traffic loads, exposure to severe environmental conditions in service in conjunction with increasing demands for faster construction and extended service life create challenges for construction professionals who build and maintain bridges, highways and other transportation-related structures. Finally, Residential segment includes the construction of residential properties for individual and family dwelling. The market fragments into single-unit, manufactured, duplex, quad-plex, and apartments and condominiums.
Construction Chemical Market, by Application, Global 2019-2025 (US$ billion)
“Asia-Pacific is regarded as the hub of construction sector owing to countries such as India and China. This has helped the region to dominate the global construction chemical market. Asia-Pacific accounted for ~50% share in 2018”
For better understanding the overall adoption on construction chemical, detailed analysis has been conducted for different region/country including North America (US, Canada), Europe (Germany, UK, France, Italy and others), Asia-Pacific (China, Japan, India, Australia and others), MEA (Saudi Arabia, UAE, Qatar, South Africa and others) and South & Central America (Brazil). The increasing construction activities in emerging economies, such as India & China, and the increased adoption of innovative construction procedures are driving the market of the infrastructure sector in the Asia-Pacific region. The key areas of expected growth are social infrastructure, schools, hospitals, government accommodation, water, defence infrastructure, and water resources. Furthermore, the growing adoption of ready-to-mix concrete in the region and the rising FDIs in the real estate sector is expected to offer numerous opportunities for the growth of the Asia-Pacific construction chemicals market. Demand for construction chemicals has a direct correlation with the level of new and redevelopment construction activity being undertaken in a specific region.
Competitive Landscape-Top 10 Market Players
Some of the major players operating in the global construction chemical market are RPM International, Arkema, Ashland, BASF, DuPont, Fosroc, Sika, CICO, Bostik and Mapei. These companies have adopted numerous growth strategies including innovation product launches, investment in R&D, partnership, mergers etc. to sustain in the growing construction chemical market. Owing to the growth prospect, the industry has witnessed various start-ups flourish in the past few years, however they are operational at regional level only.
Reasons to buy (The research report presents):
Customization Options:
The Construction Chemical Market can be customized for different region globally and at country level as well. Besides this, UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients.
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Analyzing historical market, estimation of the current market and forecasting the future market for Construction Chemical industry were the three major steps undertaken to create and analyze the overall market of the Construction Chemical. Exhaustive secondary research was done to collect the historical market of the sector and overall estimation of the current market. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted with industry experts across value chain of the Construction Chemical market. Post assumption and validation of market numbers through primary interviews, top-down approach was employed to forecast the complete market size and adoption rate of Construction Chemical. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of these products. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Global Construction Chemical through company internal sources such as annual report & financial statements, performance presentations, press releases etc. and external sources including trade journals, news & articles, government publications, economic data, competitor publications, sector reports, regulatory bodies publications, safety standard organizations, third-party database and other creditable publications. For economic data collection, sources such as World Bank, IMF, Trading Economics among others were used.
Step 2: Market Segmentation:
After obtaining historical market size of the overall market, detailed secondary analysis was done to gather historical market insights and share for different segments & sub-segments of the Global Construction Chemical market. Major segments included in the report are product type, application, and regions. Further analysis was also done for sub-segments of the major segments of Global Construction Chemical market.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, detailed factor analysis was conducted to estimate the current market size of the Construction Chemical globally. Factor analysis was conducted using dependent and independent variable such as number of new constructions planned, type of ongoing construction projects including residential and non-residential etc. Historical trends of the global Construction Chemical market and its year-on-year impact on the market size and share in the recent past was analyzed. Demand and supply side scenario was also thoroughly studied.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at current market size, key players in major applications and markets, market shares of these players, industry’s supply chain, and value chain of the industry. All the required percentage shares, splits, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including market drivers & trends, restraints, and opportunities. After analyzing these factors, relevant forecasting techniques i.e. Bottom-up/Top-down was applied to arrive at the market forecast pertaining to 2025 for different segment and sub-segments in different region/country. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head etc.). Primary research findings were summarised, and statistical analysis was performed to prove the stated hypothesis. Input from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants
Market Engineering
Data triangulation technique was employed to complete the overall market engineering process and to arrive at the precise statistical numbers of each segment and sub-segment pertaining to the Global Construction Chemical market. Data was split into several segments & sub-segments post studying various parameters and trends and products of Construction Chemical industry including Concrete Admixtures, Concrete Adhesives, Concrete Sealants, Asphalt Modifiers, Protective Coatings and Others. Further, applications of Construction Chemical were also taken into consideration such as Commercial, Industrial, Infrastructure and Residential. For better analysis of the market, through region/country wise study was conducted for major region/country including North America, European, Asia-Pacific and Middle East & Africa (MEA) and South & Central America (S&CA).
Main objective of the Construction Chemical Market Study
The current & future market trends of the Construction Chemical Market are highlighted in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market, providing a platform for the industrial participant to exploit the untapped market to benefit as first mover advantage. Other quantitative goal of the studies includes:
Analyzing historical market, estimation of the current market and forecasting the future market for Construction Chemical industry were the three major steps undertaken to create and analyze the overall market of the Construction Chemical. Exhaustive secondary research was done to collect the historical market of the sector and overall estimation of the current market. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted with industry experts across value chain of the Construction Chemical market. Post assumption and validation of market numbers through primary interviews, top-down approach was employed to forecast the complete market size and adoption rate of Construction Chemical. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of these products. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Global Construction Chemical through company internal sources such as annual report & financial statements, performance presentations, press releases etc. and external sources including trade journals, news & articles, government publications, economic data, competitor publications, sector reports, regulatory bodies publications, safety standard organizations, third-party database and other creditable publications. For economic data collection, sources such as World Bank, IMF, Trading Economics among others were used.
Step 2: Market Segmentation:
After obtaining historical market size of the overall market, detailed secondary analysis was done to gather historical market insights and share for different segments & sub-segments of the Global Construction Chemical market. Major segments included in the report are product type, application, and regions. Further analysis was also done for sub-segments of the major segments of Global Construction Chemical market.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, detailed factor analysis was conducted to estimate the current market size of the Construction Chemical globally. Factor analysis was conducted using dependent and independent variable such as number of new constructions planned, type of ongoing construction projects including residential and non-residential etc. Historical trends of the global Construction Chemical market and its year-on-year impact on the market size and share in the recent past was analyzed. Demand and supply side scenario was also thoroughly studied.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at current market size, key players in major applications and markets, market shares of these players, industry’s supply chain, and value chain of the industry. All the required percentage shares, splits, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including market drivers & trends, restraints, and opportunities. After analyzing these factors, relevant forecasting techniques i.e. Bottom-up/Top-down was applied to arrive at the market forecast pertaining to 2025 for different segment and sub-segments in different region/country. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head etc.). Primary research findings were summarised, and statistical analysis was performed to prove the stated hypothesis. Input from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants
Market Engineering
Data triangulation technique was employed to complete the overall market engineering process and to arrive at the precise statistical numbers of each segment and sub-segment pertaining to the Global Construction Chemical market. Data was split into several segments & sub-segments post studying various parameters and trends and products of Construction Chemical industry including Concrete Admixtures, Concrete Adhesives, Concrete Sealants, Asphalt Modifiers, Protective Coatings and Others. Further, applications of Construction Chemical were also taken into consideration such as Commercial, Industrial, Infrastructure and Residential. For better analysis of the market, through region/country wise study was conducted for major region/country including North America, European, Asia-Pacific and Middle East & Africa (MEA) and South & Central America (S&CA).
Main objective of the Construction Chemical Market Study
The current & future market trends of the Construction Chemical Market are highlighted in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market, providing a platform for the industrial participant to exploit the untapped market to benefit as first mover advantage. Other quantitative goal of the studies includes: