CAGR: 7.7%Current Market Size: USD 40.32 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2022-2029Base Year: 2021
The Global Construction chemicals market is expected to grow from USD 40.32 billion in 2021 to USD 72.98 billion by 2029, at a CAGR of 7.7% during the Projection period 2022-2029. The crucial component of the rise in the market revenue of the construction chemicals market, as well as the most recent technological advancements due to rising building and construction, and other infrastructure activities, which will foster market growth, is the increased implementation of growing infrastructural developments and rising demand.
Construction chemicals are chemical substances that are used with cement, concrete, or other building materials during construction to hold them all together. The project will be more sustainable and the building materials will be of higher quality. Chemical compounds called construction chemicals are utilized in building projects. They are primarily employed to speed up the procedure and provide the buildings greater sustainability and strength. Construction chemicals are used in various building materials to improve workability, performance, provide functionality, and maintain the fundamental or bespoke aspects of a structure during construction. The most important component of every chemical enterprise is these compounds. The environments of the whole construction sector have changed as a result of construction chemicals. Their use has increased building material quality, and as a result, they are widely employed in construction projects to provide sustainability. Chemicals known as construction chemicals are added to cement, concrete, or other building materials during construction to help keep everything together. The project will be more environmentally friendly, and better-quality building materials will be used. Construction projects make use of chemical substances known as construction chemicals. They are mostly used to expedite the process and provide the buildings more durability and strength. Construction chemicals are added to a variety of building materials to enhance their usability and performance, give functionality, and protect a structure's essential or unique features while it is being built. These chemicals are the most crucial part of any chemical business. Construction chemicals have altered the settings throughout the whole construction industry.
Sample Request: - Global Construction chemicals Market
Market Dynamics:
Drivers:
The need for premix admixtures before they are employed in construction is increasing, which is driving growth in the building chemicals sector. Additionally, the diminished infrastructure durability brought on by greater rainstorms and wetter winters has led to a rise in the demand for high-quality construction chemicals.
Restraints:
Airport security is ensured with full-body scanners, which create a digital, stripped image of each person boarding an aircraft. This makes sure that none of the passengers are in possession of any chemicals or dangerous goods. However, excessive X-ray exposure can exacerbate genetic illnesses, raise the risk of cardiovascular and cancer disorders, and result in foggy eye lenses. Some European countries forbid the use of X-ray detectors at airports, which is predicted to impede market revenue development. The global scarcity of radiologists is one of the major issues in healthcare. The absence of this skill set is a crucial factor in the rising issues in pulmonary healthcare. The market's projected revenue growth is being hampered by this.
Opportunities:
In addition, governments' increasing attention on eco-friendly chemicals and green construction requirements opens up lucrative potential for market participants over the projected period of 2022 to 2029. The significant expenditures made by well-established market players in eco-binders and silicate binder systems are also projected to contribute to the building chemicals industry's continued expansion.
Challenges:
The market for building chemicals suffered as a result of the coronavirus outbreak. The market suffered a significant financial blow as a result of the major interruptions in different industrial and construction operations brought on by the numerous precautionary lockdowns implemented by governments to stop the spread of illness. All around the world, especially in major building hotspots like China, India, the United States, and European nations, construction activities ceased. For instance, it is anticipated that the construction industry would contract by around 3% in 2020 as a result of the coronavirus pandemic and slower economic development in South Korea.
Segmentation Analysis:
The global Construction chemicals market has been segmented based on Type, Application, and regions.
By Type
The Type segment includes Concrete Admixture, Construction Adhesive, Construction Sealant, and Flame Retardant. The Concrete segment led the largest share of the Construction chemicals market with a market share of around 30.3% in 2021. Concrete serves the fundamental needs of civil constructions, such as strength and longevity of the finished structure, and is a vital component of all types of building projects. Sand, aggregate, binder, water, and additives are all combined to make concrete. Concrete admixtures are synthetic chemicals or additives that are mixed in with the fresh or cured concrete to improve certain qualities, such as workability, durability, or early and final strength.
By Application
The Application segment includes Residential, Infrastructure, Industrial, and Repair Structures. The Residential segment led the Construction chemicals market with a market share of around 33.08% in 2021. Developers are building projects to meet the rising demand for villas, apartments, penthouses, and bungalows in gated communities with the greatest architecture and facilities. Due to the increased demand for homes and other residential structures in metropolitan areas, construction chemicals are frequently employed in residential construction.
Global Construction Chemicals Market- Sales Analysis.
The market value for Construction chemicals was approximately 17.2% of the overall USD 6.50 of the global medical Construction chemicals market in 2021.
The sale of synthetic biology products expanded at a CAGR of 7.62% from 2015 to 2021.
Concrete admixture is becoming increasingly necessary. Manufacturers have started to react to the rise in demand. For instance, BASF unveiled the Master X-Seed STE additive for the concrete industry in March 2019. The product was created especially for the Asia-Pacific region because it enhances concrete strength performance and development qualities. In addition, the Lone Star affiliate that bought the BASF construction chemicals company sold it to MBCC Group. MBCC Group has been decoupled from BASF Group for the past 18 months and is now a totally independent business. Thanks to this acquisition, the business is able to meet client demand for construction chemicals.
Industry developments have increased the popularity of super-plasticizers. Growing applications of high-strength concrete, particularly in public infrastructure projects, are driving up demand for construction chemicals. Comparable workability at lower water to cement ratios is made possible by superior molecular mass and water reduction of up to 40%. This supports the demand for these materials as well as its long-term applications.
Thus, owing to the aforementioned factors, the global Construction Chemicals Market is expected to grow at a CAGR of 7.7% during the Projection period from 2022 to 2032.
By Regional Analysis:
The regions analyzed for the Construction chemicals market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North America region dominated the Construction chemicals market and held the 39.1% share of the market revenue in 2021.
Global Construction Chemicals Market- Country Analysis:
Germany Construction chemicals market size was valued at USD 16.38 billion in 2021 and is expected to reach USD 24.29 billion by 2029, at a CAGR of 5.3% from 2022 to 2029.
Future Growth to be Driven by Increased Investment in Infrastructure Development and Rise in Demand for Real Estate" offers a thorough examination of the construction chemical market in Germany. Construction chemical use has emerged as a crucial element in the creation of huge infrastructure projects. They also improve the quality and longevity of the structure by providing cover and preventing foreign objects from getting to the surface or core.
China Construction chemicals market size was valued at USD 29.78 billion in 2021 and is expected to reach USD 43.50 billion by 2029, at a CAGR of 5.1% from 2022 to 2029. The demand for construction chemicals is anticipated to increase throughout the Projection period as a result of rising investments and building activity in the nation. The region's economy has been steadily improving, which has improved customers' financial situations and increased demand for homes and other infrastructure projects in the nation.
India's Construction chemicals market size was valued at USD 5.96 billion in 2021 and is expected to reach USD 9.32 billion by 2029, at a CAGR of 6.0% from 2022 to 2029. Government policies and programs like Make-in-India promote the establishment of various industrial facilities in India. Further encouraging construction chemical manufacturers in the region to push hard for the incorporation of sustainable and technologically cutting-edge materials in concrete admixtures, waterproofing, and industrial flooring are rising government and foreign investments in mega projects in the Asia Pacific. The demand for construction chemicals in the Asia Pacific area is expected to rise due to the increasing number of building chemicals utilized in numerous residential and non-residential sectors.
Key Industry Players Analysis:
To increase their market position in the global Construction chemicals business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2021-2029 |
Base year |
2021 |
CAGR (%) |
7.7% |
Market Size |
40.32 billion in 2021 |
Projection period |
2022-2029 |
Projection unit |
Value (USD) |
Segments covered |
By Type, By Application, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
RPM International Inc., Ashland Inc., MAPEI, Akzo Nobel NV, Arkema SA, Fosroc, Pidilite Industries, Covestro AG, Henkel AG & Co. KgaA, HB Fuller Company, Lanxess AG, The 3M Company, Wacker Chemie AG, and Huntsman Corporation. |
By Type |
|
By Application |
|
Regional scope |
|
Scope of the Report
Global Construction Chemicals Market by Type:
Global Construction Chemicals Market by Application:
Global Construction Chemicals Market by Region:
Global Construction chemicals market is expected to reach USD 72.98 billion by 2029, at a CAGR of 7.7% from 2022 to 2029.
North America dominates the construction chemicals market during the Projection period.
Residential segment is leading in the construction chemicals market.
The construction chemicals market is estimated to record a CAGR of 7.7% during the Projection period.
Leading market players active in the global Construction chemicals market are BW Group, Dorian LPG Ltd., EXMAR, Hyundai Heavy Industries Co., Ltd, Kawasaki Heavy Industries, Ltd, Mitsubishi Heavy Industries, Ltd., Namura Shipbuilding Co., Ltd., PT Pertamina (Persero), StealthGas Inc., The Great Eastern Shipping Co. Ltd., Teekay Corporation among others.