Construction Chemicals Market

Growing Awareness Regarding Green Construction Will Has a Significant Impact on Market Growth.

The growing awareness of environmental hazards caused by conventional buildings and changes in government policies globally are the key reasons for construction chemical adoption, especially for building 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 in sustainability.  

Additionally, Chemicals used in the construction sector increase 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 the construction process. Moreover, the major purpose for the adoption of construction chemicals is that 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.

May 2023: Sika, a globally acclaimed construction chemicals industry player, purchased the MBCC Group, which contained waterproofing solutions, anchors, grouts, flooring resins, and repair and rehabilitation chemicals, among others, apart from its concrete admixture business activities in Europe, North America, Australia and New Zealand.

April 2023: Flowcrete, a subsidiary company of RPM International Inc., reported that one year has been added to the warranty period for all of its gooey flooring resins to make them durable for a further 12 months than the earlier stated storage dates without their damages or performance’s drop-in quality.

The Global Construction Chemicals Market Industry is experiencing a surge due to rapid urbanization across various regions. As populations migrate to urban areas, the demand for residential and commercial infrastructure increases. This trend is particularly evident in developing countries, where urbanization rates are projected to rise significantly. The need for durable and sustainable construction materials has led to an uptick in the use of construction chemicals, which enhance the longevity and performance of structures. By 2024, the market is expected to reach 34.8 USD Billion, reflecting the growing emphasis on urban development and infrastructure projects.

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The construction chemicals market size in North America stood at USD 9.8 billion in 2018. The market in this region is characterized by growing construction activities in the U.S. and Canada. Various initiatives taken by the governments to promote infrastructure activities along with the growing residential sector will largely facilitate the growth of the market in the region during the forecast period.

Figure 3:  CONSTRUCTION CHEMICALS MARKET SHARE BY REGION 2023 (%)

Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

The Asia Pacific dominated the market due to the growing construction industry in India, China, South Korea, and Japan. The 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 which includes middle-class housing, elite housing, and low-cost housing. Increasing demand for penthouses, apartments, bungalows, and villas, with amenities and high-class designs, is expanding rapidly.

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Construction Chemicals market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Construction Chemicals industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Construction Chemicals. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Construction Chemicals industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Construction Chemicals industry to benefit customers and expand the market sector. The Low-Profile Additives market has recently given medicine some of the most important advantages. Major Construction Chemicals market players, including BASF SE of Germany, Ashland Inc. of the United States, Pidilite Industries Ltd of India, Sika AG of Switzerland, and others, are attempting to increase market demand by funding R&D initiatives.

BASF is a company that provides petrochemicals, intermediates, performance materials, monomers, dispersions and pigments, performance chemicals, catalysts, coatings, and care chemicals. It conducts its operations through six business segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition and Care, and Agricultural Solutions.

Also, Ashland is a company that provides specialty chemical solutions. Its Specialty Ingredients segment offers solutions using natural, synthetic, and semisynthetic polymers derived from plant and seed extract, cellulose ethers, vinyl pyrrolidones, and acrylic polymers, as well as polyester and polyurethane-based adhesives. Its Composites segment manufactures and sells a range of unsaturated polyester and vinyl ester resins and gel coats.