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Construction Chemical Market Size, Share, Trends, and Growth 2019-2026

 



(EstateNewsWire.com, December 18, 2019 ) Market Overview
The global Construction Chemical Market is expected to grow at a CAGR of 5.9 % during the forecast period (2019-2026).

Construction chemicals are chemical formulations used with cement, concrete or other construction materials at the time of construction to hold the construction material together. The quality of cement has improved extensively with the utilization of the development of synthetic substances. Construction chemicals have become one of the important components of chemical industry playing an important role in global infrastructure development. Improved development prospects in the construction business imply that numerous global organizations have begun contributing to create advance development of chemical products.

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Market Dynamics
Increasing construction activity, increasing adoption of innovative construction and growing government developments are the key drivers that are boosting the market growth. The growing awareness among architects, builders, contractors and owners, that construction chemicals help in improving the quality and performance of construction will help the market to boom in the future. The rising formation of mega-cities, increasing living standards and population has a demand for quality construction work which will drive the construction chemical market. ASEAN infrastructure spending and GDP average growth rates are gradually rising from the past few years.

Governments are investing heavily in infrastructure and housing development. Government policies that promote the use of energy-saving materials and environment-friendly specialty chemicals in construction are driving the demand for environment-friendly performance chemicals, such as waterborne coatings. Rising government and foreign investments in mega projects in Asia-Pacific are encouraging chemical manufacturers in the region to make a strong push toward incorporating sustainable and technologically advanced materials in concrete admixtures, waterproofing, and industrial flooring. Government of India is initiating to invest in constructions through different policies. India is one of the fastest-growing markets by country.

The increase in the use of ready-mix concrete (RMC) is increasing the demand for construction chemicals. The use of RMC in construction is around 7% of domestic cement demand and is expected to rise to 20% to 25% in the future.

The demand for construction chemicals will be intense in Southeast Asian countries such as the Philippines, Vietnam, Malaysia, and Indonesia, which are enjoying high investments in large-scale infrastructure and commercial projects.

High prices of construction chemicals, strict government regulations and lack of skilled labor are the key restraints for the market growth. Due to the presence of various small scale manufacturers that produce low-value products would compensate for the increasing prices of construction chemicals. On May 14, 2018, BASF Japan Ltd. had increased the sales prices for all construction chemical products in small packages by over 10%, including a price review and restructure for air-entraining agents and air-controlling agents for concrete admixtures.

Market Segmentation
On the basis of type, the market for Global construction chemicals is classified into concrete admixtures, protective coating, industrial flooring, waterproofing, adhesives & sealants, grinding aids and others. Concrete admixtures accounted for the largest market share with 25% totally in the year 2018. The global construction chemical market for concrete admixtures was worth $13,880 million in 2018 and is forecasted to reach $XX million by 2026, at a CAGR of XX% during the forecast period. Admixtures are natural or manufactured chemicals added to the concrete before or during mixing. The use of admixtures in concrete is increasing rapidly in recent years owing to its associated physical as well as economic benefits. The growing demand from consumers for better product quality has led to increased investments by companies in the R&D sector which have led to the launch of new concrete admixture products. For instance, in 2017, GCP Applied Technologies Inc. launched two new concrete admixtures, OPTEVA™ HE and TAVERO™VM, to deliver higher-performing, lower-cost cement production.

Based on application, the market for Global construction chemicals is broadly segmented as commercial, infrastructure and residential. The commercial sector is the largest market segment due to massive public and private investments in commercial high-rise buildings, recreational, institutional and government facilities, public works projects, retail outlets, and business office facilities. The global constructions chemicals market for the commercial sector was valued at US$ 24,922 in 2018. This segment is also anticipated to witness highest growth rate throughout the forecast period. The Commercial Construction segment consists of commercial high-rise buildings, recreational, institutional and government facilities, public works projects, retail outlets, and business office facilities. Increasing construction of office spaces, hotels, and retail outlets have driven the demand for application of construction chemicals for extended durability of building structures and protection against chemical attack.

Geographical Analysis
The global construction chemical market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

The North America construction chemical market was worth $5312 billion in 2018 and is forecasted to reach $XX billion by 2026, at a CAGR of 5.4% during the forecast period. This region is further categorized by region into the US, Canada, and Mexico. The US will witness an increase in construction investment and rapid technological advancements by key market players, which will help boost sales revenue for construction chemicals. The construction chemicals market in Canada is also expected to achieve healthy growth rate buoyed by the presence of massive business opportunities in the construction of roads, highways, rehabilitation housing projects, and maintenance and repair projects of existing building structures. Key market players present in the region include 3M Company, Albemarle Corporation, BASF SE, Henkel AG & Company, and DowDuPont Inc.

The Asia Pacific construction chemical market was worth $34976 billion in 2018 and is forecasted to reach $XX billion by 2026, at a CAGR of 8.8% during the forecast period. Rising government and foreign investments in mega projects in Asia-Pacific are encouraging chemical manufacturers in the region to make a strong push toward incorporating sustainable and technologically advanced materials in concrete admixtures, waterproofing, and industrial flooring. The increasing infrastructure development activities, investment in commercial, residential housing, renovation activities of historical monuments, water retention structure, bridges, and other civil structures have has driven the demand for construction chemical in the Asia Pacific region. Industry players are facing a decline in sales in the Asia region; this decline is mainly due to the negative currency effects. BASF introduced Master X-Seed 55 admixture on January 24, 2018; it improves both early- and late-age strength development in concrete.

Competitive Analysis
Some of the key market players are 3M, Akzo Nobel Chemicals AG, Arkema S.A, AxelchemSDN BHD, BASF SE, BOSTIK, Cementaid International Group of Companies, ChrysoGroup, DowDuPont Inc., Fosroc International Limited, GCP Applied Technologies Inc., Henkel AG & Co., Lafarge S.A., Mapei S.p.A, MC-BAUCHEMIE MULLER GmbH & KG Chemische Fabriken, Pidilite Industries, PT Penta Chemicals Indonesia, RPM International S.P.A, Sika AG and UROMIX CHEMICAL SDN BHD.

The mergers and acquisitions, the formation of strategic partnerships key market players, and launch of green construction chemicals for eco-friendly solutions are the vital part of the business strategy of leading companies.
Choskey Chemicals Pvt. Ltd. launched Techseal Solo 901, road grade polysulphide sealant that repairs and builds an expansion in joints with easy application and minimal waste.

Fosroc has introduced new Patchroc250, a solution for highway repairs, featuring improved characteristics, providing the rapid setting and rapid strength gain, but low heat generation, ensuring no thermal cracking at high thickness.

Green construction chemicals for environmentally friendly solutions Choskey Chemicals Pvt. Ltd. launched the following green construction chemicals in the market:
• Sunshield, which doesn’t allow heat absorption, thus creating a significant temperature difference without any considerable insulation system.
• Durable acrylic coating, Roofcoat, protective coating that is resistant to UV radiation and free for foot traffic.
• Acrylic elastomeric color membrane, which is eco-friendly, non-hazardous and non-toxic with high elasticity and solid content.

Key Points:
• The Global Construction Chemicals market is forecasted to grow at a CAGR of 7.5% in the period 2018-2026.
• Increasing construction activity, increasing adoption of innovative construction, and growing government construction developments are the major factors driving the growth of the market.
• High prices of construction chemicals, strict government regulations and lack of skilled labor are the major factors restraining the growth of the market in the forecasted period.
• By type, concrete admixtures account for the largest market share of 25% in 2018, closely followed by waterproofing with 22%.
• The Asia Pacific has the largest market by region, while China accounts for the largest market share by country with 64% in Asia-Pacific in 2018. India is one of the fastest-growing market by country.
• The mergers and acquisitions, formation of strategic partnerships key market players, and launch of green construction chemicals for eco-friendly solutions are the vital part of the business strategy of leading companies.
• Construction chemicals are a consolidated market with top 4 companies accounting for significant market share. BASF SE, Sika AG, GCP Applied Technologies Inc., and ChrysoGroup are the major companies in the industry.

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