Construction chemicals play a crucial role in the modern construction industry by enhancing the properties and performance of construction materials. These chemicals are formulated to improve the durability, strength, workability, and aesthetics of various building materials, thereby ensuring the longevity and sustainability of structures. The global construction chemicals market has experienced significant growth over the past years, driven by rapid urbanization, infrastructure development, and the increasing demand for sustainable and energy-efficient construction practices.
The Construction Chemicals Market is poised for substantial growth, driven by several key factors. Supported by global infrastructure expansion and consumer demand for innovation, the market is projected to grow at a CAGR of 6.7%, reaching a value of US$ 104.92 billion by 2032. Rising per capita disposable income has influenced the population to invest more in better residential structures and a higher quality of living. Furthermore, the increasing demand for public, commercial, and residential buildings, coupled with the expanding urban population, is fueling the growth of the construction chemicals market. Additionally, the growing need for infrastructure facilities, including buildings, roads, bridges, tunnels, and dams, further contributes to the market’s positive outlook.
A recent industry report by Future Market Insights projects that the building chemicals market will reach US$ 54.85 billion in value by 2022. (FMI). Demand is anticipated to rise during the projection period at a CAGR of 6.7%.
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For cool roof treatments, thermal insulation, general building protection, polycarboxylate ether-based green admixtures, and underground structural protection, major companies in the construction chemical industry are concentrating on ecologically friendly and sustainable products.
Applications of construction chemicals are essential for maintenance tasks. The importance of maintaining, repairing, and enhancing existing structures, particularly for residential and infrastructural developments, is what drives demand for construction chemicals.
Numerous government initiatives to promote infrastructure development, together with the rising residential sector, have significantly supported the market expansion in the area over the predicted period.
Key Takeaways
- The construction chemicals market is likely to have a CAGR of 6.7% during the forecast period.
- According to the application, the resident segment holds the largest share during the forecast period for the construction chemicals market.
- North America holds a significant share in the global construction chemicals market.
- Based on type, concrete admixture accounted for the 36% construction chemicals market share in 2021.
- During the forecast period, Asia Pacific is expected to dominate the construction chemicals market.
- The value of the construction chemicals market is expected to be US$ 104.92 billion by 2032.
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Competitive Landscape:
To meet changing consumer demand, manufacturers of construction chemicals prioritize increasing production capacity. Construction chemical market trends are predicted to be influenced by portfolio expansion and divestment plans over the anticipated time period.
To boost their market share in the construction chemicals industry, the leading companies in this space mostly employ acquisition and growth strategies.
The DOW Chemical Co., RPM International Inc, Ashland Inc., MAPEI, Akzo Nobel NV, Arkema SA, Fosroc, Pidilite Industries, Covestro AG, Henkel AG & Co. KGaA, HB Fuller Company, Lanxess AG, The 3M Company, Wacker Chemie AG, Huntsman Corporation, Momentive Performance Materials, Guangzhou Jointas Chemical Co. Ltd are some major key players in the construction chemicals market.
Recent Developments
- In July 2021, Saint-Gobain and Chryso, a major player in the worldwide construction chemicals market, entered into a purchase agreement. The purchase of Chryso matches Saint-strategic Gobain’s ambition of being the global leader in sustainable construction. With combined sales of more than €3 billion across 66 countries, it further increased the Group’s footprint in the developing construction chemicals sector.
- With the debut of a distinct green product line in the category, JSW Cement, India’s top green cement business, entered the construction chemical market in June 2021. JSW Cement now has new chances to connect innovation in concrete mix products with ethical construction thanks to the Construction Chemical category. The business of the corporation grew as a result of this development.
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Construction Chemicals Market Key segments
By Product Type:
- Waterproofing Chemicals
- Protective Coating
- Concrete Admixture
- Adhesives & Sealants
- Asphalt Additives
By Application:
- Residential
- Commercial & Industrial
- Infrastructure
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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