Construction chemicals market 2020 - 2026
Contents |
[edit] Introduction
Construction chemicals (such as polymers and protective coatings) are specialty materials that play an important role in construction by increasing the longevity of buildings and improving performance.
Concrete admixtures dominated the market in 2019 and are expected to grow further in the future. There are concrete mixtures that help reduce the amount of cement and water required during construction; others change the characteristics of hardened concrete during the process of mixing, healing and carrying.
[edit] Growth drivers
The residential segment had the largest market share of the global construction chemical industry in 2019. The segment is projected to grow based on the rising demand for residential housing in rural and urban areas.
Increasing demands for earthquake-resistant structures (particularly around the Asia Pacific Fire Ring, North and Latin America's East Coasts and Europe and Asia Pacific's Alpide Belt) will boost market demand for robust and weather-resistant structures and infrastructure.
Asia Pacific held the majority share in 2019, and this segment is anticipated to increase even more through the forecast period. The growth of this segment is based on the rising population in this region combined with increasing income and urbanisation.
[edit] Projections
Driven by urban planning and development (using sustainable, environmentally friendly
components), infrastructure requirements are currently the most profitable chemical building market. In 2019, the global construction chemicals market was approximately 37 billion US dollars; this is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.5% and could reach 62 billion US dollars by 2026.
Currently, some of the largest construction chemicals manufacturers include 3M, Arkema Group, Ashland, BASF SE, Bolton Group, Cemetaid (N.S.W.) Pty Ltd, Chryso SAS, CICO Group, Conmix Ltd, DowDuPont, Fosroc Inc., Franklin International, GCP Applied Technologies Inc., Henkel AG & Co. KGaA, LafargeHolcim, MAPEI SpA, MUHU Construction Materials Co. Ltd, Nouryon, RPM International Inc., Sika AG, Thermax Global, and others.
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