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Last edited 12 Feb 2021
Construction Chemicals Market
The construction chemicals market is expected to reach $40,154 million by 2022, registering a CAGR of 5.6% during the period 2016 to 2022.
Construction chemicals are chemical compounds that optimise the performance of construction materials and increase the life of end products. These additions provide further value for end users by reducing labour cost and minimising wastage. The key elements that drive the construction chemicals market growth include rise in construction industry, increase in urbanisation, and growth in conformity with latest manufacturing standards. However, change in regulatory environment and low consumer awareness inhibit the market growth.
Concrete admixtures and water proofing and roofing dominated the construction chemicals market in 2015, accounting for around two-thirds of the market. The concrete admixtures segment is expected to grow with a high CAGR of 9.9%, in volume terms, owing to the increased compressive strength and enhanced workability it offers, providing higher moving and positioning time. Residential and infrastructure end-user segments collectively accounted for three-fifths of the market share, in terms of volume in 2015. The infrastructure segment is expected to grow at the fastest rate with a CAGR of 7.7% during the forecast period.
- The infrastructure segment is projected to grow at the fastest rate with a CAGR of 9.7% (volume terms).
- Flooring construction chemicals, are projected to grow with a CAGR of 9.6% (volume terms) during the forecast period.
- The residential segment accounted for around half of the market share, in terms of value in 2015.
- LAMEA is projected to occupy the highest market value, registering a CAGR of 5.8%.
- Asia-Pacific amounted for more than two-fifths of the market share, by volume, in 2015, growing at a CAGR of 10.2%.
The Asia-Pacific and LAMEA construction chemicals market is expected to offer lucrative growth opportunities, during the forecast period, with CAGRs of 5.8% and 6.1%, respectively. This is due to an increase in economic development, expansion in the construction industry, and the need for better infrastructure.
The key players in the world construction chemicals market include BASF SE, Arkema SA, Ashland Inc., Fosroc International Limited, Mapie S.p.A, Pidilite Industries, RPM International Inc., Sika AG, The Dow Chemical Company, and W.R. Grace & Company.
See also: Construction chemicals market to 2023.
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