The construction chemicals market is further accelerated by the rapid urbanization observed in many developing regions and is expected to boom the market landscape over the forecast period. The SNS Insider report indicates that the Construction Chemicals Market was worth USD 41.94 billion in 2022 and is expected to grow to USD 72.06 billion by 2030, with a CAGR of 7.0% in the forecast period. The construction chemicals market is witnessing robust growth globally, driven by the booming construction industry and the increasing demand for high-performance construction materials. Construction chemicals encompass a wide range of products, including concrete admixtures, waterproofing chemicals, adhesives and sealants, protective coatings, and repair and rehabilitation products. These chemicals play a critical role in enhancing the durability, strength, and sustainability of construction projects while addressing various challenges such as water infiltration, corrosion, and structural deterioration.
One significant trend shaping the construction chemicals market is the growing focus on sustainable and eco-friendly construction practices. With increasing awareness of environmental issues and stringent regulations aimed at reducing carbon emissions and promoting green building standards, there is a rising demand for construction chemicals that are low in VOCs (volatile organic compounds), non-toxic, and environmentally friendly. Manufacturers are investing in the development of innovative green solutions, such as bio-based concrete admixtures, recycled waterproofing membranes, and eco-friendly sealants, to meet the sustainability requirements of modern construction projects.
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KEY PLAYERS
- BASF SE
- Pidilite Industries Ltd
- Apple Chemie India Pvt Ltd
- Cross International Plc, Dow
- R. Grace and Company, Evonik Industries AG
- Huntsman International LLC
- Ashland Inc.
- RPM International Inc.
- Henkel AG
- Tata Chemicals
- Sika AG
- Fosroc Inc.
- Other Players.
Market Overview:
Construction chemicals are specialty chemical compounds used in construction activities, enhancing the performance of materials like cement, concrete, and coatings. These chemicals provide high strength, durability, and protection from environmental hazards. The growing awareness of environmental concerns and changes in global government policies are driving the adoption of construction chemicals, especially for sustainable building activities. Major players in the construction industry focus on green and sustainable materials, contributing to overall building protection and environmental sustainability.
Market Analysis:
The expansion of new construction and repair sectors in developing economies, driven by population growth in economies like China and India, is a significant driver for construction chemicals. The demand for various construction chemicals, including adhesives, concrete admixtures, and cement additives, has risen alongside the increased consumption of cement. Enhanced product offerings and technological advantages in construction chemicals improve structure performance, durability, and corrosion resistance. The growing construction industry in developing economies and the demand for public, commercial, and residential structures are key factors propelling the construction chemicals market.
Segment Analysis:
By Type
- Concrete admixtures
- Waterproofing roofing
- Repair
- Flooring
- Sealants adhesives
- Others
By Application
- Residential
- Industrial
- Infrastructure
- Repair structures
Based on type, the concrete admixtures segment is expected to dominate the market during the forecast period, driven by its extensive use in construction, particularly in China, India, the United Kingdom, and Germany. In terms of application, the infrastructure segment led the construction chemical market in 2022 due to the growing demand for commercial buildings, bridges, roads, dams, and tunnels.
Regional Development:
Asia-Pacific accounted for the majority of revenue share in 2022, driven by rapid growth in building and government support for infrastructure. The region's expanding middle class, increased demand for luxury homes, and significant construction projects contribute to its dominance. In Europe, the construction chemical market is primarily driven by the residential segment, including middle-class, elite, and low-cost housing.
Key Takeaway for Construction Chemicals Market Study:
- Rapid urbanization and infrastructure development are driving the construction chemicals market globally.
- Concrete admixtures and infrastructure applications dominate the market.
- Asia-Pacific holds a significant share due to rapid growth and government incentives.
- The residential segment plays a crucial role in the European market's growth.
Recent Developments:
- In Sept 2023, Huntsman Corporation launched its Technology Portal, facilitating external collaborations and unlocking potential business opportunities.
- In April 2023, Indigo Paints acquired a 51% stake in Apple Chemie India to strengthen its position in the construction chemicals market.
- In July 2021, Saint-Gobain acquired Chryso, expanding its presence in the construction chemicals market with combined sales of more than €3 billion across 66 countries.
About US:
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