Global Construction Chemicals Market Will Experience a Noticeable Growth During the Forecast Period 2020 – 2027Published Date: July 2, 2020 |
Construction chemicals are specialty chemicals that impart several properties, which help in meeting aesthetic, functional, and design requirements of civil structures. Construction chemicals offer several benefits such as high chemical resistance, improved durability, reduction in cement and water requirement, and resistance to adverse climatic conditions. Construction chemicals also help provide a pleasing appearance to a structure without compromising its overall quality. These chemicals are widely used in the construction of commercial, industrial, residential, and other infrastructure projects. Thus, growth in the construction industry, especially in BRICS countries, is estimated to boost the overall construction chemicals market in the next few years. Furthermore, environmental benefits coupled with increasing government initiatives are anticipated to boost the demand for construction chemicals during the forecast period. However, sluggish growth of the construction industry in developed regions along with low awareness in developing regions is likely to hamper market growth during the forecast period. The development of bio-based construction chemicals is estimated to open up new avenues for the construction chemicals market in the near future.
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Concrete admixture accounted for over 55% share of the global construction chemicals market in 2019. Asphalt additives are composite materials that are commonly used in surfacing of roads, parking lots and airports. Growing urbanization, especially in BRICS countries, is projected to augment the overall growth of the asphalt additives market by 2020. Protective coatings primarily help in complying with stringent safety regulations that are prevalent especially in developed countries; hence, the market is expected to expand at a moderate pace during the forecast period. Adhesives and sealants are primarily used in the maintenance of old structures. Hence, the demand for these products is dominant in developed countries.
In terms of volume, China emerged as the leading consumer of construction chemicals, accounting for over 40% of the global construction chemicals market in 2019. An increase in population coupled with rising urbanization has boosted the overall demand for construction chemicals in China. The country was followed by Europe, which is estimated to grow at a sluggish rate in the near future due to the mature construction market in the region. The rest of Asia Pacific is projected to exhibit rapid growth due to the developing construction industry in the region, especially in India and Japan.
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The global construction chemicals market is consolidated in nature, with the top four players accounting for nearly 48% share of the global market in 2019. Major players in the construction chemicals market include BASF SE, Sika AG, The Dow Chemical Company, W. R. Grace, MAPEI S.p.A., Bostik and Akzo Nobel Chemicals AG.
This report segments the global construction chemicals market as follows:
Construction Chemicals Market – Product Segment Analysis
- Asphalt Additives
- Concrete Admixtures
- Protective Coatings
Construction Chemicals Market – Regional Analysis
- North America
- Rest of Asia Pacific
- Rest of the World
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