Construction Chemicals Market Outlook, 2032
The global construction chemicals market size was valued at $49.9 billion in 2022, and is projected to reach $88.1 billion by 2032, growing at a CAGR of 6% from 2023 to 2032. The increase in demand for infrastructure and the development of new construction chemical products & technologies are major factors driving the demand for construction chemicals. With urbanization and the rise in population, there is a surge in need for modern infrastructure such as roads, bridges, commercial buildings, and residential complexes. This surge in construction activities has led to a higher demand for construction chemicals, such as concrete admixtures, waterproofing agents, and sealants.
KEY HIGHLIGHTERS
- The construction chemicals market has been analyzed in both value and volume. The value of the construction chemicals market is analyzed in millions while the volume is analyzed in kilotons.
- Global Construction chemicals market is fragmented in nature with many players such as 3M, MAPEI S.p.A., Fosroc, Inc., Sika AG, Evonik, Chembond Chemicals Limited, ACC Limited, Flowcrete Group Ltd., SWC Brother Company Limited, and Cera-Chem Pvt. Ltd. Also tracked key strategies such as product launches, acquisitions, mergers, expansion etc. of various manufacturers of Construction chemicals.
- Included more than 20 countries in the report which covers market volume as well as market value for all the countries of the construction chemicals market.
- Covered the detailed list of manufacturers by application of the construction chemicals market. It covers the product information, application, and geographical presence of the companies.
- Conducted primary interviews with raw material suppliers, wholesalers, suppliers, and manufacturers of the construction chemicals market to understand the market trends, growth factors, pricing, and key players competitive strategies.
Introduction
Construction chemicals are a range of chemicals used in the construction industry to enhance the performance of building materials and structures. These chemicals are used for various purposes, such as improving concrete strength and durability, preventing corrosion of metal structures, waterproofing, and providing fire protection. Construction chemicals are used to improve the properties of construction materials such as concrete, masonry, steel, and wood. For instance, concrete admixtures are added to concrete to enhance its workability, durability, and strength. Waterproofing compounds are applied to concrete, masonry, or steel surfaces to prevent water penetration and damage.
The common types of construction chemicals include admixtures, waterproofing agents, corrosion inhibitors, fire protection chemicals, sealants & coatings, and others. Admixtures are chemical additives that are added to concrete, mortar, or grout to improve their workability, strength, and durability. Waterproofing agents are chemicals used to prevent water from penetrating building materials, such as concrete, masonry, and wood. In addition, sealants and coatings are chemical products used to seal gaps and joints in buildings and protect surfaces from damage and weathering.
Market Dynamics
The global construction chemical market growth is driven by an increase in demand for infrastructure development. As the world population continues to grow, there is a rise in need for new and improved infrastructure, such as highways, bridges, airports, and buildings. Construction chemicals play a crucial role in enhancing the performance and durability of these structures that makes them more resistant to wear & tear, weathering, and environmental factors. Furthermore, the development of new construction chemical products and technologies have contributed to the growth of the market. The development of high-performance concrete admixtures has enabled the construction of taller and stronger buildings, while new waterproofing and sealing technologies have improved the durability and longevity of infrastructure. All these factors are expected to drive the demand for the construction chemicals market during the forecast period.
However, changes in the regulatory environment and low consumer awareness inhibit the development owing to the price-sensitive nature of this market. As the price of construction chemicals is relatively higher compared to its traditional counterparts, the usage is limited in developing countries. Moreover, the emerging economies are expected to lead the construction chemicals market in coming years. In addition, rise in awareness regarding energy conservation and sustainability in the construction industry is expected to benefit the construction chemical industry.
Moreover, the emerging economies are expected to lead the construction chemicals market during the forecast period. In addition, a rise in awareness regarding energy conservation and sustainability in the construction industry is expected to benefit the construction chemical industry. The push for sustainable building standards and certifications, such as LEED (Leadership in Energy and Environmental Design) and BREEAM (Building Research Establishment Environmental Assessment Method), drives the adoption of construction chemicals that meet these criteria. All these factors are anticipated to offer new growth opportunities for the construction chemicals market.
Rise in the global construction industry to boost construction chemicals demand
The global construction industry has been on a steady rise over the past few years, and this trend is expected to continue during the forecast period. The growth in construction activity can be attributed to several factors, including population growth, urbanization, surge in demand for infrastructure, and technological advancements. Population growth has been a major driver of construction activity, as it has led to an increased demand for housing and other types of buildings. The trend toward urbanization has played a role, as more people move to cities in search of better job opportunities and improved living standards.
Another key factor driving the growth of the construction industry is the surge in demand for infrastructure. As countries around the world invest in new roads, bridges, airports, and other types of infrastructure, there is a growth in need for skilled workers in the construction industry.
Technological advancements have played a significant role in the growth of the construction industry. New construction materials and methods have made it possible to build taller, stronger, and more efficient buildings, while innovations such as building information modeling (BIM) and virtual reality (VR) have transformed the way architects and engineers design buildings. However, challenges such as rise in material costs, labor shortages, and supply chain disruptions may impact the industry's growth in the short term.
Segments Overview
The construction chemical market is segmented on the basis of type, end-use industry, and region. By type, the market is classified into concrete admixtures, water proofing & roofing, repair and rehabilitation, industrial flooring, sealants & adhesives, cement grinding aids, and others. By application, the market is fragmented into residential, industrial/commercial, infrastructure, and repair. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Construction Chemical Market By Type
Based on type, the concrete admixtures segment accounted for the largest share in 2022 and is projected to register the highest CAGR of 6.3% during the forecast period. The development of new and advanced concrete admixtures with improved properties has increased their demand in the construction industry. These new admixtures offer benefits such as higher strength, faster setting times, improved workability, and reduced water requirements.
Construction Chemical Market End-Use Industry
Based on the end-use industry, the industrial segment accounted for the largest share in 2022 owing to rapid developments in developing countries and utilization of innovative products & materials in construction activities have fueled the growth of the market. However, infrastructure is anticipated to register the highest CAGR of 6.4% during the forecast period.
Construction Chemical Market By Region
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global construction chemical market and is projected to register the highest CAGR of 6.2% during the forecast period. This is attributed to numerous factors such as the flourishing construction industry, consistently developing economic status, and strengthening industrialization linked, which drive the growth of the Asia-Pacific market.
The major players operating in the industry include 3M, MAPEI S.p.A., Fosroc, Inc., Sika AG, Evonik, Chembond Chemicals Limited, ACC Limited, Flowcrete Group Ltd., SWC Brother Company Limited, and Cera-Chem Pvt. Ltd. These players have adopted product launch as their key strategy to increase their market shares.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the construction chemicals market analysis from 2022 to 2032 to identify the prevailing construction chemicals market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the construction chemicals market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global construction chemicals market trends, key players, market segments, application areas, and market growth strategies.
Construction Chemicals Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 88.1 billion |
 Growth Rate | CAGR of 6% |
 Forecast period | 2022 - 2032 |
 Report Pages | 250 |
 By Type |
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 By End-use Industry |
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 By Region |
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 Key Market Players | Cera-Chem Pvt. Ltd. , Chembond Chemicals Limited, Evonik, Sika AG, ACC Limited, Flowcrete Group Ltd., SWC Brother Company Limited, Fosroc, Inc., 3M, MAPEI S.p.A. |
Analyst Review
According to the CXOs, the main factors that drive the global construction chemicals market are surge in in demand from construction industry and need for sustainable & energy conserving materials. On the other hand, low consumer awareness about long-term benefits to use construction chemicals and change in regulatory environment of construction industry have hampered the growth of this market. Currently, the residential end-use segment is the leading consumer of construction chemicals amongst all the market segments. The use of construction chemicals is on an increase owing to urbanization and the need for sustainable infrastructure. Moreover, consumption of construction chemicals is the highest in the LAMEA region due to rise in urban population and industrialization.
The industry is characterized by a high number of new market entrants that seek to tap lucrative opportunities in the global market while existing players enter into strategic collaborations to increase capacities & expand their reach into emerging markets. The joint venture, merger, and acquisition activities in the industry have increased significantly over the past decade. Companies constantly seek to establish long-term contract agreements with trusted partners for sustainable business operations globally.
The demand for construction chemicals continues to increase in emerging economies and the impact of these factors is expected to create significant opportunities in the market during the forecast period.
Industrial/Commercial is the leading end-use industry of the Construction Chemicals Market.
Asia-Pacific is the largest regional market for Construction Chemicals.
The Construction Chemicals Market valued for $49.9 billion in 2022 and is estimated to reach $88.1 billion by 2032, exhibiting a CAGR of 6% from 2023 to 2032.
The major players operating in the industry include 3M, MAPEI S.p.A., Fosroc, Inc., Sika AG, Evonik, Chembond Chemicals Limited, ACC Limited, Flowcrete Group Ltd., SWC Brother Company Limited, and Cera-Chem Pvt. Ltd. These players have adopted product launch as their key strategy to increase their market shares.
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