Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Construction Chemicals market.
Trusted Business Insights presents an updated and Latest Study on Construction Chemicals Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Construction Chemicals market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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The global construction chemicals market size was USD 42.32 billion in 2018 and is projected to reach USD 70.91 billion by 2026, exhibiting a CAGR of 6.7% during the forecast period.
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Construction chemicals are specialty chemical compounds that are used in construction activities. These chemicals are added to construction materials such as cement, concrete, coatings, and others, where they provide high strength and durability and increase the construction work and give additional protection from environmental hazards. Construction chemicals have major applications in enhancing the performance of concrete and also provides benefits to less usage of water and cement during the construction activities.
Growing Awareness Regarding Green Construction Will Have a Significant Impact on Market Growth
The growing awareness on environmental hazards caused by conventional buildings and change in government policies globally, are the key reasons for construction chemicals adoption specially for buildings activities. Some major players in the construction industry are focusing on underground structure protection with green and sustainable materials, polycarboxylate ether based green admixtures, thermal insulation, overall building protection, cool roof treatment and others, which will play a vital role towards sustainability.
Chemicals used in the construction sector increases the overall cost, though it is more beneficial to the environment. Construction chemicals add more strength and corrosion resistance to the infrastructure, and they also bring down the cement and water volume used during construction process. Moreover, major purpose for adoption of construction chemicals is that it enhances the performance of buildings such as structural tapes, thermoset hot melts, and multi-purpose adhesives. The judicious use will change the global residential and non-residential market and will have a positive impact on the environment.
Changing Dynamics of Construction Industry Are Expected to Significantly Impact the Market.
Growing construction industry in developing economies is expected to support the growth of construction chemicals market primarily driven by growing new construction and repair & rehabilitation sector. High demand for residential and non-residential structures in China, India, and South Korea due to high population growth rate shall drive the industry growth. This demand has also increased the consumption rate of cement, which in turn, have caused a high demand for various construction chemicals such as concrete admixtures, cement additives, and adhesives & sealants.
Introduction to better product offering for improving performances is anticipated to drive the growth of the global construction chemicals market during the forecast period. These products include specialty cement additives, silicon caulks, polymer-based grouts and mortars, and others. The construction chemicals also provide technological advantage that enhances performance and endurance of structures while reducing corrosion. Corrosion prevention is also a driving factors for market for construction chemicals, where chemicals comprising of floorings, surface coatings, corrosion inhibitors, concrete admixtures, repair mortars, and grouts & sealants are used to protect the surface from corrosion.
Growing Urbanization Trend in Construction Industry is Expected to Aid Market Growth
Many emerging markets are experiencing high rate of urbanization due to increased migration to rapidly developing cities. Rise in per capita disposable income and improved standard of living shall foster the overall market demand. New residential and non-residential structures will be constructed to fulfill the growing demand caused by urbanization. Structures such as movie theaters, shopping centers, hospitals, and restaurants, in addition with the residential structure. This will augment the growth of this market.
Governmental regulations over VOC emissions on the construction industry
Construction chemicals are used during building activities may lead to VOC which are harmful and can cause common health problems such as skin irritation, asthma, nausea, confusion, headaches, and eye irritation. Many construction chemicals used in residential segments contain dangerous VOCs, such as formaldehyde, acetone, and butanol which are emitted through acoustic ceiling tile, solid wood, caulking sealant, and floor wax. Governmental regulations over use of construction chemicals due to VOC emission acts as a restraining factor for construction chemicals market growth.
By Type Analysis
Concrete Admixtures Dominated the Global Market
Based on type, the market is segmented into concrete admixtures, flooring chemicals, waterproofing chemicals, repair & rehabilitation chemicals, and others. Cement is widely used as a binding material within construction, cement added with crushed rock, water and sand in precise quantity to produce concrete. Concrete admixtures are then added to improve the properties of concrete. They provide benefits such as low cement water ratio, improved setting time, prevent settlement, reduce segregation, Improve pumpability. Growing construction industry in China, India, UK, and Germany is causing the high usage of concrete admixtures, which will cause growth of the construction chemicals market.
Flooring chemicals are usually epoxy and polyurethane based. These chemicals are used for various applications to improve the load impact, abrasion, moisture penetration, chemical attack, aesthetic appeal, strengthening of damaged floors.
Water proofing chemicals are designed to stop water infiltration. Water proofing chemicals are added for waterproofing of concrete during the construction process as maintenance and preventive waterproofing ingredients. Repair & rehabilitation is the reconstruction of the structure parts which are damaged. These chemical includes epoxy based repair mortars, rust removers, and anticorrosion products.
By Application Analysis
The Non-Residential Segment to Aid Dominance of the Segment
In terms of application, the market is segmented into residential and non-residential. Among these non-residential segment dominated due to growing infrastructure development. Demand for commercial buildings, bridges, roads, dams, and tunnels is further driving the market growth. Additionally, growing disposable economies along with high population rate is causing a high demand for high end and better quality structure for public use, which is acting as a growth driver for global construction chemicals.
The market for residential segment is highly fragmented and growing urbanization has caused a high number of consumer to shift towards cities. Changing lifestyles, rapid urbanization, improving living standards and increasing demand for aesthetically designed residential structures is expected to drive the growth of this market during the forecast period.
The construction chemicals market size in North America stood at USD 9.8 billion in 2018. The market in this region in characterized by growing construction activities in the U.S. and Canada. Various initiatives taken by the governments to promote the infrastructure activities along with the growing residential sector will largely facilitate the growth of the market in the region during the forecast period.
Asia Pacific dominated the market due to growing construction industry in India, China, South Korea, and Japan. Rapidly escalating population rate in China has made the country a major consumer of construction chemicals. Moreover, booming industrialization is also supporting the market growth of construction chemicals.
The construction chemical market in Europe is expected to be primarily driven by the residential segment that includes middle-class housing, elite housing, and low-cost housing. Increasing demand for penthouses, apartments, bungalows, villas, with amenities and high-class designs is expanding rapidly.
The market in Latin America and Middle East & Africa is projected to register comparatively high CAGR during the forecast period. Presence of a largely available raw materials and underpenetrated market in the region, along with world-class life of consumers with high need for residential and commercial structures are anticipated to drive the demand for construction chemicals in these regions.
KEY INDUSTRY PLAYERS
Companies forming new product launch and acquisition to boost market share and their presence in the business
The global construction chemicals market share is competitive with major players including BuildCore Chemicals, Croda International Plc, ACC Limited, Evonik, and BASF SE. Industrial participants are focusing mainly on acquisitions and strategic partnership to increase their overall market share. Also, most of the manufacturers are spending in the new and novel product innovation to gain competitive edge within the international and domestic market.
Also, companies offer wide range of construction chemicals for new and existing infrastructure applications. For instance, Sika AG provides a wide range of construction chemical products which are used in cement, repair & rehabilitation, insulation, waterproofing, flooring, and others.
LIST OF KEY COMPANIES PROFILED:
- BuildCore Chemicals
- Croda International Plc
- ACC Limited
- BASF SE
- Fosroc, Inc.
- CHRYSO India
- SWC Brother Company Limited.
- Sika AG
- 3M Company
- Other Key Players
KEY INDUSTRY DEVELOPMENTS:
June 2016 â€“ BASF opened a concrete admixture plant in Vietnam. This plant will let the company to better serve and meet the growing demands of consumers for good quality construction chemicals products for markets in Vietnam.
December 2018 â€“ Fosroc launched a green roof waterproofing grade product of Polyurea. The new product Polyurea WH 200GR is spray-applied targeting the green roof market. It provides tensile/ elongation / crack bridging and water impermeability/ abrasion-resistance, which makes it a great solution both new-build and existing structures.
The construction chemicals market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product.
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Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over the recent years.
Report Scope & Segmentation
- Concrete Admixtures
- Flooring Chemicals
- Waterproofing Chemicals
- Repair & Rehabilitation Chemicals
- North America (U.S. and Canada)
- Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe)
- Asia-Pacific (China, India, Japan, Australia, South Korea, and Rest of Asia- Pacific)
- Latin America (Brazil, Argentina, and Rest of Latin America)
- Middle East & Africa (South Africa, Saudi Arabia, and Rest of Middle East & Africa)
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