Key Market Overview:
Construction Chemicals Market size was worth USD 37.9 Billion in 2021, accounting for a CAGR growth of 6.2 % over the forecast period (2022-2030), and the market is estimated to be valued at USD 65.13 Billion by 2030.
Construction chemicals are such types of chemicals used to enhance the durability, strength, and overall quality of buildings and other construction projects such as industrial projects, residential building projects, commercial building projects, and others. Construction chemicals are available in different varieties such as protective agents, water repellents concrete admixtures, waterproofing chemicals, adhesives & sealants, and others. Admixtures, coatings, sealants, adhesives, and repair materials are extensively used to protect and repair concrete structures.
Admixtures are added to concrete and mortar to improve workability, set time, and strength. Sealants are used to fill joints and gaps in building structures, providing waterproofing and airtightness. Furthermore, adhesives are used to bond two or more surfaces together, such as in flooring, wall tiles, and cladding applications. The use of construction chemicals is not limited to new construction projects but is also used in the repair, rehabilitation, and maintenance of existing structures. For instance, hydrophobic architectural coatings are applied to roofs, walls, and balconies to prevent water damage, while asphalt modification improves the durability and resistance of asphalt roads.
Several key companies are constantly investing in research and development to introduce new and improved construction chemicals that cater to the evolving needs of the construction industry. For instance- Sika is working on the development of concrete admixtures using the LC3 technology. The LC3 technology, developed by the Swiss Federal Institute of Technology Lausanne, aims to reduce the carbon footprint of cement production by using alternative raw materials to produce clinker, which is the main source of CO2 emissions in cement production.
Geographically, the Asia-Pacific is anticipated to be the fastest-growing market for construction chemicals, owing to the increasing construction activity, and increasing demand for high-quality and durable construction materials, along with the focus on sustainable construction practices.
Market Dynamics:
Driver:
Rising demand for infrastructure development and increased construction activity across residential, non-residential, and industrial sectors are key factors driving the growth of the construction chemicals market. With the growing population and urbanization, there is a need for more housing and commercial spaces, which leads to an increase in construction activities. Moreover, the demand for construction chemicals such as adhesives, sealants, concrete additives, and waterproofing materials is rising as these products play an important role in ensuring the durability and longevity of buildings.
Restraint:
Construction chemicals are facing competition from alternative materials and technologies that offer similar performance and durability at lower costs. For instance, the use of natural building materials such as bamboo and straw bale offers an eco-friendly alternative to traditional construction materials. Thus, the availability of suitable alternatives at low cost hampers the market growth.
Opportunities:
The growing awareness of the impact of construction activities on the environment is propelling the demand for more sustainable and eco-friendly construction materials and technologies. This offers immense opportunities to companies for the development of construction chemicals that are less harmful to the environment and contribute to more sustainable construction practices.
Construction Chemicals Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2016-2030 |
| Market Size in 2030 (USD Billion) | 65.13 Billion |
| CAGR (2022-2030) | 6.2% |
| By Type | Concrete Admixtures, Waterproofing Chemicals, Protective Agents, Water Repellents, Adhesives & Sealants, and Others |
| By End-Use | Residential, Commercial, Industrial, and Infrastructure |
| By Geography | North America, Europe, Asia Pacific, Latin America, and Middle East, & Africa |
| Key Players | Antas Chemical Co., Ltd., BASF SE, Bostik Inc., H.B. Fuller Company, Sika Group, Mapei S.p.A., The Dow Chemical Company, RPM International Inc., Vivid India Chemicals, and Apple Chemie. |
Market Segmentation:
By Type
The type segment is categorized into concrete admixtures, waterproofing chemicals, protective agents, water repellents, adhesives & sealants, and others. Concrete admixtures are considered the dominant segment in 2021 and hold the largest share of the construction chemicals market. As construction projects become more complex and demand higher-quality concrete, the demand for concrete admixtures is growing. Concrete admixtures offer a cost-effective solution to improve the properties of concrete, making concrete more durable and resistant to environmental factors.
Moreover, the adhesives & sealants segment is likely to grow at the fastest CAGR over the forecast period. As adhesives & sealants are largely used for construction projects due to their improved performance and durability which increased the demand and thereby drives the segment growth. Moreover, adhesives and sealants are used in a wide range of construction applications, including building envelopes, flooring systems, roofing, insulation, and others.
By End-Use
The end-use segment is divided into residential, commercial, and industrial. The residential segment dominated the market in 2021 and is anticipated to grow at a significant rate over the forecast period. Owing to the increasing use of construction chemicals in the construction of houses, apartments, and other residential buildings the segment generated maximum revenue in 2021. Moreover, the segment has been growing rapidly due to the increasing demand for affordable housing and the need to improve the quality and durability of residential buildings.
Additionally, the commercial end-use segment is likely to grow at the fastest CAGR over the forecast period. The factors that are likely to drive the demand include the use of construction chemicals in the construction of office buildings, shopping centers, and hotels, along with the increasing demand for modern and high-quality commercial buildings.
By Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America. The Asia-Pacific has dominated the construction chemicals market and is anticipated to witness notable growth over the forecast period. This is attributed to increasing infrastructure construction activities and increasing focus on sustainable construction practices and energy-efficient buildings. Moreover, China is home to some of the world’s largest construction projects, including high-rise buildings, airports, and bridges, which require large quantities of construction materials and chemicals.
Additionally, North America is expected to grow with the fastest CAGR as the region is home to well-developed construction industries, and has witnessed significant growth in recent years, particularly in the residential and commercial segments.
Construction Chemicals Market Competitive Landscape:
The construction chemicals market is highly competitive, with a large number of players operating in the market globally. The major players in the market are focused on expanding their product portfolios and strengthening their market presence through investments in research and development, as well as mergers, acquisitions, and partnerships. The key players in the market include-
- Antas Chemical Co., Ltd.
- BASF SE
- Bostik Inc.
- B. Fuller Company
- Sika Group
- Mapei S.p.A.
- The Dow Chemical Company
- RPM International Inc.
- Vivid India Chemicals
- Apple Chemie
Recent Developments:
- In June 2021, RPM International Inc. announced the acquisition of Dudick Inc. by its Carboline subsidiary. This acquisition will help RPM International to expand its product portfolio and strengthen its presence in the construction chemicals market. Dudick Inc. is a well-established player in the market, known for its high-performance coatings, flooring systems, and tank linings, which have a strong demand in the industrial and commercial sectors.
- In April 2021, Sika worked on the development of concrete admixtures executing the LC3 technology that lowers CO2 emissions, established by the Swiss Federal Institute of Technology Lausanne. The new technology targets to assist the production of performant and sustainable cement with less clinker.