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Construction Chemicals Market

Construction Chemicals Market by Type (Concrete Admixture, Asphalt Additives, Adhesives and Sealant, Protective coatings), by Geography (US, Canada, Germany, France, UK, Italy, China, Japan, India, South Korea, Brazil, Saudi Arabia and South Africa) - Global Market Size, Share, Development, Growth and Demand Forecast, 2012-2022

Published: June 2016
Report Code: CM10686
Available Format:
Pages: 104

Construction Chemicals Market Overview

The global construction chemicals market is expected to grow at a CAGR of 5.7% during the forecast period, to reach $61.1 billion by 2022. A significant growth in demand for construction chemicals is anticipated due to increasing awareness for quality construction, and increasing industrialization and urbanization.

Construction chemicals are the additives added to Portland cement, concrete or other construction materials to bind them together and improve their structural properties. It is also used for protection against leakages and shrinkage cracks and to improve the durability of civil structures. With the advancement in technology, new innovative products are being developed to enhance workability and impart further protection from environmental threats. In addition, the use of these chemicals during construction also minimizes the quantity of water and cement generally required.

GLOBAL CONSTRUCTION CHEMICALS MARKET, BY TYPE, $B (2012-2022)

Construction chemicals have a wide variety to ease the workmanship in demanding conditions at several stages of construction. Today each full-fledged construction chemicals manufacturer produces 50 to 100 different construction chemicals. It is a chemical complex added in formulation of several construction materials or specialty chemicals made of mortar, concrete and cement at building sites to increase compatibility with building structure, improve performance, workability, and protect finished structures and construction materials. It contains a wide range of materials, such as admixtures including waterproofing admixtures, accelerating agents, plasticizers, retardants and others, cementations, sealants and adhesives such as polyurethanes, acrylic adhesives, epoxy polyvinyl acetates and others, and flame retardants such as antimony oxides, ATH, chlorinated and brominated. The application of construction chemicals depends and differs on the kind and scale of construction projects.

Based on type of chemical, the construction chemicals market has been generating highest revenue from protective coatings, while adhesive & sealants, concrete admixture, and asphalt additives are the other major construction chemicals.

Construction Chemicals Market Dynamics

The construction chemicals industry has experienced a major growth on the global basis due to the growing awareness of construction safety and quality, increasing number of new projects for public infrastructure, technological advancements, commercial spaces and housing in the regions including Asia-Pacific and other developing nations such as Colombia, Brazil, Saudi Arabia and UAE. However, the mature construction market of developed economies is the major factor responsible for hindering the growth of the construction chemicals market.

Growth Drivers

Growing urbanization and industrialization, and increasing awareness for quality construction are the factors responsible for driving the demand of construction chemicals.

Urbanization is the shift of population from rural areas to urban areas, and increase in the fraction of people living in urban areas. The urban population of the world is expected to increase significantly during the forecast period. Much of the urban growth is expected to take place in the emerging countries of the developing regions, mainly Africa. Urbanization brings enormous economic, social and environmental changes. Thus, these countries will face many challenges in meeting the requirements of their growing urban populations such as housing, transportation, infrastructure, energy and employment, and for basic services such as healthcare and education.

Industrialization is the process where a country or a region (or world) changes itself from a primarily agrarian society into one that is based on the manufacturing of goods and services. During this change, a lot of other changes occur in the region or country such as increasing infrastructure and energy requirements as well as new employment opportunities and economic growth. This transformation can be seen by the emerging nations, particularly BRICS (Brazil, Russia, India, China, and South Africa). These countries are the fastest growing economies and if these economies continue to grow, they would become strong global economic players in future. This can bring construction of new factories and technologies into these countries, which would propel the growth of the construction chemicals market.

Trends

The current trend witnessed in construction chemicals market is increased consumption of construction chemicals in rapidly developing economies. The increase in worldwide consumption of construction chemicals in rapidly developing economies is due to the population growth. The world population is expected to increase rapidly, with almost all these advances in developing nations. An increasing portion of the consumer class of construction chemicals worldwide lives in developing nations. India and China together claim almost one fourth of the global market, with a collective consumer base higher when compared with Western Europe. However, the average Indian or Chinese member consumes substantially less in comparison to the average European. Developing nations also have significant potential to increase the ranks of consumers. The consumer class in most of the developing countries accounts for less than half of the population which provides a considerable room to grow.

Opportunities

The key opportunity witnessed in the construction chemicals market is a new range of products and services and increasing awareness for energy conservation and sustainability. Energy conservation refers to reduction of energy consumption through less energy usage. There has been increasing awareness for energy conservation due to growing concern about increasing energy demand all over the world. This awareness for energy conservation has been increasing in various sectors from transportation to building. The construction chemicals business is offering ample opportunities to aid in energy conservation. Sellers can use their political influence and industry networks to monitor and benefit from administration agencies that need application of construction chemical products to aid in energy conservation in structures. Increasing awareness of climate change will propel the demand for energy conservation materials and technologies, such as construction chemicals.

Construction Chemicals Market Competitive Landscape

Some of the major companies operating in the construction chemicals market include BASF SE, Akzo Nobel Chemicals AG, Ashland Inc., Antas Chemical Company Limited, 3M Company, Bostik Inc., Albemarle Corporation, The Dow Chemical Company, Evonik Industries, and Sika A.G.

 

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