Construction Chemicals Market Size Report | Growth & Overview 2028

Construction Chemicals Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Concrete Admixtures, Asphalt Additives, Waterproofing Chemicals, Adhesives and Sealants, Flame Retardants, and Others) and Application (Residential, Commercial, Industrial, Institutional, and Infrastructure)

  • Report Code : TIPRE00003947
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 162
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[Research Report] The construction chemicals market was valued US$ 50,952.86 million in 2022, it is estimated to grow at a CAGR of 5.8% from 2022 to 2028.

MARKET ANALYSIS

Construction chemicals are chemical formulations used with cement, concrete or other construction materials during the time of construction to hold the construction material together. Construction chemicals are specialty products that are crucial for sustainable infrastructure and energy conservation in construction industry to increase durability of buildings, and to provide added fortification from environmental hazards. The growing construction industry in developing countries as well as the increase in government support for the development of the residential construction sector is driving the growth of the construction chemicals market across the world.

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Construction Chemicals Market: Strategic Insights

Construction Chemicals Market

  • CAGR (2022 - 2028)
    5.8%
  • Market Size 2022
    US$ 50.95 Billion
  • Market Size 2028
    US$ 71.45 Billion

Market Dynamics

GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players

  • Ashland Global Holdings Inc.
  • BASF SE
  • MAPEI S.p.A.
  • Sika AG
  • Fosroc, Inc.
  • Compagnie de Saint-Gobain S.A.
  • Pidilite Industries Limited
  • Choksey Chemicals Pvt Ltd
  • RPM International Inc.
  • Dow Chemicals Company

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Product
  • Concrete Admixtures
  • Asphalt Additives
  • Waterproofing Chemicals
  • Adhesives and Sealants
  • Flame Retardants
  • Others
Application
  • Residential
  • Commercial
  • Industrial
  • Institutional
  • Infrastructure
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

GROWTH DRIVERS AND CHALLENGES

The strong growth of construction industry in developing countries has aided the construction chemicals market growth. The construction chemicals enhance the workability, performance, functionality, chemical resistance, and durability of the construction materials. In India, the growth in the construction activities is driven by continuing industrialization, urbanization, increasing population, growth in middle-class income, and the increase in infrastructural developments. According to the Department for Promotion of Industry and Internal Trade (DPIIT), foreign direct investments (FDIs) in the construction development sector and construction (infrastructure) activities stood at US$ 26.20 billion and US$ 27.92 billion, respectively, between April 2000-March 2022. The construction industry is a best prospect industry sector for Mexico. Mexican construction industry is growing due to the economic growth and public investment in infrastructure projects. In 2019 and 2020, the country’s President López Obrador, along with private sector representatives, announced multiple projects as part of the nation’s infrastructure plan. Mexico is also moving rapidly towards green and environmentally friendly construction activities. The construction industry from the country has embraced the green building movement. Further, in Brazil, the construction sector is a key contributor to gross domestic product (GDP) growth. The construction market in Brazil offers key opportunities for the foreign multinational companies expanding into Latin America. Hence, the strong growth of the construction industry in these developing countries is mainly driving the construction chemicals market growth. The adoption of innovative product like ready-mix concrete is also the major factor in positively impacting the construction chemicals market size. Ready-mix concrete is a concrete that is batched for delivery from a central plant instead of being mixed on the job site. It is ideal for many jobs. Ready-mix concrete is particularly beneficial when small quantities of concrete or intermittent placing of concrete are required. Ready-mix concrete helps save on capital investments by not having to invest in plants and machinery for cement. All these benefits contribute to the increasing use of ready-mix concrete in various construction activities. Therefore, the development and adoption of innovative products such as ready-mix-concrete is predicted to boost the construction chemicals market size during the forecast period. However, fluctuations in the prices of raw materials can create an adverse impact on the market growth. Different polymers are used for the manufacturing of construction chemicals. The prices fluctuate due to various factors. For instance, if the cost of the oil involved in the production is raised, then the cost of the polymer is likely to go up as well. Hence, the fluctuating cost of raw materials and energy is expected to hamper the construction chemicals market growth.

REPORT SEGMENTATION AND SCOPE

The "Global Construction Chemicals Market Analysis to 2028" is a specialized and in-depth study with a major focus on the global construction chemicals market trends and growth opportunities. The report aims to provide an overview of the global construction chemicals market with detailed market segmentation by product, application, and geography. The global construction chemicals market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of construction chemicals worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the construction chemicals market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the construction chemicals market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative construction chemicals market opportunities that would, in turn, aid in identifying the major revenue pockets.

Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global construction chemicals market, which helps understand the entire supply chain and various factors affecting the market growth.

SEGMENTAL ANALYSIS

The global construction chemicals market is segmented based on product, application. Based on product, the construction chemicals market is segmented as concrete admixtures, asphalt additives, waterproofing chemicals, adhesives and sealants, flame retardants, and others. On the basis of application, the market is segmented as residential, commercial, industrial, institutional, and infrastructure.

On the basis of product concrete admixtures led the construction chemicals market with a largest market share. Concrete admixtures are soluble in water and are mixed in small quantities to concrete mixtures for altering certain properties. They help in minimizing the construction projects costs and alters the characteristics of hardened concrete. The adhesives and sealants is another key segment contributing to the construction chemicals market growth. Adhesives and sealants are barrier to external factors like dust particles, moisture, liquid, oxygen, etc. Sealants are used to seal an opening or a surface to avoid leakage of any gas or liquid, and sealants are used to fill small gaps that are tough to cover, with materials such as concrete, drywall and others. Based on application residential segment is dominating the construction chemicals market. Rise in population has led to increasing accommodation requirements especially in smart cities, and to fulfil this demand construction activities are increased by both government bodies and private sector companies, which has further resulted in expansion of residential construction thus, driving the construction chemicals market.

REGIONAL ANALYSIS

The report provides a detailed overview of the global construction chemicals market with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. Asia Pacific accounted for a large portion of the global construction chemicals market share and is valued at more than US$ 18,800 million in 2022. Asia Pacific comprises several developing and developed economies such as China, India, Japan, South Korea, and Australia. The critical factor contributing to its growth is the increasing demand for building & construction. Rising government and foreign investments in mega projects in the Asia Pacific are encouraging construction chemical manufacturers in the region to push strongly toward incorporating sustainable and technologically advanced materials in concrete admixtures, waterproofing, and industrial flooring. North America is also expected to witness considerable growth valued at approximately US$ 19,000 million in 2028. According to the US Census Bureau, building and construction spending in public and private sector of the US in January and February 2022 amounted to USD 237.8 billion, showing a growth of 10.4% compared to the same period of 2021. Furthermore, in Europe, there has been a widespread usage of construction chemicals in residential & commercial construction. This has created lucrative opportunities in construction chemicals market. The construction chemicals market in Europe is augmented to grow at CAGR of 6.7% during the forecast period.

INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES

Partnership, acquisitions, and new product launches were found to be the major strategies adopted by the players operating in the global construction chemicals market.

  • In Aug 2022, Sika AG launched a mortar and concrete admixtures manufacturing plant at Santa Cruz de la Sierra, Bolivia to strength its special chemicals manufacturing operations in South America region.
  • In May 2022, MAPEI S.p.A. partnered with Black Buffalo 3D corporation to utilize the partners 3D printing technology and offer building materials based in its Planitop 3D layer design standards.

IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION

Lockdowns, travel restrictions, and business shutdowns due to the COVID-19 pandemic adversely affected economies and industries in various countries in North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA). The crisis disturbed global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. Further, the international travel bans imposed by various governments in Europe, Asia Pacific, and North America forced several companies to discontinue their collaboration and partnership plans. All these factors hampered the chemicals & materials industry in 2020 and early 2021, thereby restraining the growth of construction industry.

Before the COVID-19 outbreak, the construction chemicals market was mainly driven by the rising demand from construction industry. The COVID-19 pandemic has caused a delay in most ongoing construction projects and reduced the productivity of the construction industry. Due to the reduced construction activities worldwide, the demand for construction chemicals in different residential, commercial, industrial, and infrastructural application has reduced. However, the economies revived their operations. The previously postponed construction projects were resumed, further providing an opportunity for the construction chemicals market players to regain normalcy.

COMPETITIVE LANDSCAPE AND KEY COMPANIES

Some of the key players operating in the construction chemicals market include Ashland Global Holdings Inc.; BASF SE; Mapei S.P.A.; Linde Plc; Sika Ag; Fosroc, Inc; Compagnie De Saint-Gobain S.A; Pidilite Industries Limited; Choksey Chemicals Pvt Ltd; Rpm International Inc.; and Dow Chemicals Company among others.

Construction Chemicals Market Report Scope

Report Attribute Details
Market size in 2022 US$ 50.95 Billion
Market Size by 2028 US$ 71.45 Billion
Global CAGR (2022 - 2028) 5.8%
Historical Data 2020-2021
Forecast period 2023-2028
Segments Covered By Product
  • Concrete Admixtures
  • Asphalt Additives
  • Waterproofing Chemicals
  • Adhesives and Sealants
  • Flame Retardants
  • Others
By Application
  • Residential
  • Commercial
  • Industrial
  • Institutional
  • Infrastructure
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Ashland Global Holdings Inc.
  • BASF SE
  • MAPEI S.p.A.
  • Sika AG
  • Fosroc, Inc.
  • Compagnie de Saint-Gobain S.A.
  • Pidilite Industries Limited
  • Choksey Chemicals Pvt Ltd
  • RPM International Inc.
  • Dow Chemicals Company
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Product, and Application

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

    Frequently Asked Questions


    Can you list some of the major players operating in the global construction chemicals market?

    The major players operating in the global construction chemicals market are Ashland Global Holdings Inc.; BASF SE; MAPEI S.p.A.; Sika AG; Fosroc, Inc.; Compagnie de Saint-Gobain S.A.; Pidilite Industries Limited; Choksey Chemicals Pvt Ltd; RPM International Inc.; and Dow Chemicals Company.

    In 2021, which region held the largest share of the global construction chemicals market?

    In 2021, Asia Pacific accounted for the largest share in the global construction chemicals market. The growing number of construction chemicals used in many residential and non-residential sectors is anticipated to increase the construction chemicals demand in the Asia Pacific region.

    Which product segment accounted for the largest share in the global construction chemicals market?

    Based on product, the global construction chemicals market is segmented into concrete admixtures, asphalt additives, waterproofing chemicals, adhesives and sealants, flame retardants, and others. In 2021, the concrete admixtures segment accounted for the largest revenue share. These concrete admixtures are necessary to improve concrete quality, controllability, faster or slower setting times and other modified properties to achieve specific building results.

    Which product segment is the fastest growing in the global construction chemicals market?

    Based on product, the global construction chemicals market is segmented into concrete admixtures, asphalt additives, waterproofing chemicals, adhesives and sealants, flame retardants, and others. The concrete admixtures segment is expected to account for the highest growth rate over forecast period. Concrete admixtures are soluble in water and are mixed in small quantities to concrete mixtures for altering certain properties. They help in minimizing the construction projects costs and alters the characteristics of hardened concrete.

    What is the key driver for the growth of the global construction chemicals market?

    Government support for the development of residential construction sector is expected to drive the demand for construction chemicals market. Various construction chemicals play a vital role in residential construction projects. Various government bodies across different countries are supporting for the development of the residential construction sector.

    In 2021, which application held the largest market share in global construction chemicals market?

    Based on application, the global construction chemicals market is segmented into residential, commercial, industrial, institutional, and infrastructure. In 2021, the residential segment accounted for the largest revenue share and is expected to account for the highest growth rate over forecast period. Construction chemicals are mainly used for speeding up the work in residential construction projects. In addition, younger generation is easily attracted toward the newly designed houses, and this has also increased the rate of residential construction.

    The List of Companies - Construction Chemicals Market

    1. Ashland Global Holdings Inc.
    2. BASF SE
    3. MAPEI S.p.A.
    4. Sika AG
    5. Fosroc, Inc.
    6. Compagnie de Saint-Gobain S.A.
    7. Pidilite Industries Limited
    8. Choksey Chemicals Pvt Ltd
    9. RPM International Inc.
    10. Dow Chemicals Company            

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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