Construction Chemicals Market has significantly evolved in the recent years with the global trend of ecofriendly, greener buildings. Upgraded living standards along with exponential increase in the infrastructure spending especially across BRICS nations is leaving a direct impact on the rapid expansion of the overall industry. Driven by the product’s unique ability to enhance the construction materials while reducing the harmful carbon footprints, these materials are witnessing a phenomenal demand worldwide. Furthermore, various states, as well as central governments initiations in promoting quality construction work, are set to augment construction chemicals industry’s consumer base. According to Global Market Insights Inc., “Construction chemicals market is slated to surpass a revenue of USD 50 billion, with a projected CAGR of 9% over the period of 2016-2024.”
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Based on product trends, the industry is principally segmented into concrete admixtures, asphalt modifiers, protective coatings, sealants, and adhesives. Concrete admixtures construction chemicals industry accounted for 50% of the global share in 2015, and is expected to show a sharp growth curve in the next seven years. The massive growth can be attributed to these materials’ increasing demand both from residential as well as commercial infrastructure sector such as flyovers, roads, bridges etc. Owing to the chemicals’ inherent property of improving the cement quality by modulating its physical and chemical resistances, concrete admixtures are expected to show significant adoption across a wide range of sectors. Concrete admixtures are further bifurcated into mineral and chemical admixtures. Increasing government efforts on the restoration of heritage buildings is anticipated to spur sealants, adhesives and protective coatings based construction chemicals market demand.
Europe is one of the prominent regions holding a considerable share of global construction chemicals market. The regional industry collected a revenue of USD 4.5 billion in 2015, and is expected to grow substantially at an annual rate of 8% over the coming seven years. As per European commission, buildings in this region accounts for 40% of the total energy consumption and emit almost 33% of the overall greenhouse gas emission, which in turn is driving the regional market.
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Geographically, Asia Pacific is another promising player dominating construction chemicals industry. Booming construction activities along with rapid urbanization across these regions is leaving an influential impact on the regional industry share. China, India, and Japan are the major revenue contributors prominently driving the market. Escalating construction market in China is having a parallel impact on the region’s construction chemical market. Japan and India are other two regions, expected to witness a notable progress in the construction chemicals industry growth.
Prominent market participants include Sika Group, Dow Chemical, Arkema, BASF SE, and RPM International.
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