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)
Publication Month: Sep 2022 |
Report Code: TIPRE00003947
| No. of Pages: 162
| Category: Chemicals and Materials
| Status: Published
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.
Construction chemicals are chemical formulations used with cement, concrete, and other construction materials at the time of construction to hold the construction materials together. Chemical products, such as concrete admixtures, help in minimizing the quantities of cement and water generally required during construction.
In 2021, Asia Pacific dominated the global construction chemicals market. The growing construction industry across the region is driving the market growth. In Australia, the increasing residential construction is propelling the demand for construction materials. Along with this, the rising infrastructure developments in countries, including India, China, and Indonesia, fuel the demand for construction chemicals in the region. The national 2021 budget of India allocated US$ 6,257.67 million (Rs 50,000 crore) to the Ministry of Housing and Urban Development (MoHUA), as well as the creation of a US$ 3.5 billion (about Rs 25,300 crore) fund to support the completion of stalled housing projects. All these factors are driving the construction chemicals market in Asia Pacific. Under China’s 14th Five-Year Plan, the Ministry of Housing and Urban-Rural Development (MOHURD) issued a notice for the Implementation of Urban Renewal Actions in 2020. While China’s urbanization rate reached 60.6% in 2019, the urban renewal policy aims to develop greener and efficient cities as the government seeks to improve the quality of China’s urban living conditions.
Strategic Insights
Report Coverage - Construction Chemicals Market
Report Coverage
Details
Market Size Value in
US$ 50,952.86 Million in 2022
Market Size Value by
US$ 71,449.75 Million by 2028
Growth rate
CAGR of 5.8% from 2022 to 2028
Forecast Period
2022-2028
Base Year
2022
No. of Pages
162
No. of Tables
58
No. of Charts & Figures
72
Historical data available
Yes
Segments covered
Product, and Application
Regional scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverage
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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Construction Chemicals Market Forecast, by Region, 2021–2028
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Market Insights
Growing Demand for Green Buildings
In recent years, there has been a growing demand for the development of sustainable and green buildings. According to the Indian Green Building Council (IGBC), the energy savings from green buildings could range from 20 to 30% and water savings from 30 to 50%. Construction chemicals are widely used as bonding agents, tile adhesives, expansion and crack joint filters, and plasticizers. They improve the overall quality and durability of the buildings, as well as provide protection against environmental hazards. Thus, the growing development of green buildings across the world is driving the demand for construction chemicals.
Product Insights
Based on product, the construction chemicals market is segmented into concrete admixtures, asphalt additives, waterproofing chemicals, adhesives and sealants, flame retardants, and others. The concrete admixtures segment held the largest market share in 2021, and the market for this segment is expected to grow at the fastest pace during the forecast period. Dry ice blocks are being increasingly used for commercial, transportation, and industrial applications.
Construction Chemicals Market Share, by Product, 2021–2028
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Ashland; BASF SE; Choksey Chemicals; Dow; Fosroc, Inc.; MAPEI; Pidilite Industries Ltd.; RPM International Inc.; Saint-Gobain; and Sika AG are a few key players operating in the construction chemicals market. The major players adopt various strategies, such as mergers and acquisitions and product launches, to expand their geographic presence and consumer base.
Report Spotlights
Progressive trends in the construction chemicals industry to help players develop effective long-term strategies
Business growth strategies adopted by companies to secure growth in developed and developing markets
Quantitative analysis of the global construction chemicals market from 2020 to 2028
Estimation of the demand for construction chemicals across various industries
Porter’s analysis to illustrate the efficacy of buyers and suppliers in the construction chemicals industry
Recent developments to understand the competitive market scenario and the demand for construction chemicals
Market trends and outlook, and factors governing the growth of the market, including drivers and restraints
Understanding about the strategies that underpin commercial interest into the global construction chemicals market growth, aiding in the decision-making process
Dry ice market size at various nodes of market
Detailed overview and segmentation of the construction chemicals market and its industry dynamics
The construction chemicals market size in various regions with promising growth opportunities
The "Construction Chemicals Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry with a special focus on the construction chemicals market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The construction chemicals market is segmented on the basis of product, application, and geography. Based on product, the market is segmented into concrete admixtures, asphalt additives, waterproofing chemicals, adhesives and sealants, flame retardants, and others. By application, the market is segmented into residential, commercial, industrial, institutional, and infrastructure. Based on geography, the construction chemicals market is primarily segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.
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, 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.
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.
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.
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.
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.
The List of Companies - Construction Chemicals Market
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
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the global construction chemicals market, thereby allowing players to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to application.
Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis.