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Construction Chemicals Market is Expected to Reach $50.6 Billion by 2026, Globally

 

Report Code : A01357

quote Growing adoption of construction chemicals with best practices across the world, to meet consumer international standards, is expected to increase the current market penetration levels quote

Eswara Prasad
Manager, Materials & Chemicals at Allied Market Research

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According to a new report published by Allied Market Research, titled, " Global Construction Chemicals Market by Type, by Application - Global Opportunity Analysis and Industry Forecast, 2018-2026 ", the market is poised to reach $50.6 billion by 2026, from $32.0 billion in 2018, growing with a CAGR of 5.9% from 2019 to 2026. The concrete admixtures segment leads the construction chemicals market with more than one-third of the market share during the forecast period.

Construction chemicals are chemical compounds that optimize the performance of concrete and increase the life of end products. These addendums provide further value for end users by reducing labor costs and minimizing wastage. The key elements that drive the construction of chemical market growth include the rise in the construction industry, an increase in urbanization, and growth in conformity with the latest manufacturing standards. However, change in the regulatory environment and low consumer awareness inhibit the market growth. Current and prospective regulatory environment towards the construction industry is not standardized globally, which leads to sub-standard building guidelines. Contractors use cheap material to budget the overall expenditure, particularly in the emerging economies. The lack of benchmark regulations in the region prevents the growth of the construction chemicals market. On the contrary, rising demand for construction chemicals from emerging economies to offer lucrative growth opportunities for the market. The increase in demand from emerging economies is attributed to numerous factors such as rapid industrialization, increasing population, and others. The increasing population in developing countries creates a basic requirement for infrastructure. The demand for construction chemicals would continue to increase in emerging economies and the impact of these factors is expected to create significant opportunities in the construction chemicals market during the forecast period.

On the basis of type, concreate admixtures are anticipated to grow at the fastest growth rate. This is attributed to an increase in consumption from developing regions such as Asia-Pacific owing to the huge number of infrastructure projects undertaken.

On the basis of end user residential has gained a dominant market share. Residential complexes and buildings are in high demand in response to the perennial urbanization globally. Construction firms initiate a comparatively larger number of residential projects with high-grade construction materials to provide improved structural integrity and sustainability. Asia-Pacific and LAMEA regions are foremost in these ventures due to high urban displacement. 

Concrete admixtures and water proofing & roofing chemical segments together dominated the construction chemicals market in 2018, accounting around two-thirds of the market share collectively. Concrete admixtures segment is expected to grow with a high CAGR in volume terms, owing to the increased compressive strength and enhanced workability, so as to provide higher moving and positioning time. Residential and infrastructure end-user segments collectively accounted for three-fifths of the market share, in terms of revenue, in 2018.

Key Findings of the Construction Chemicals Market :

  • Infrastructure segment is projected to grow at the fastest rate over the forecast period
  • Residential segment accounted for around half of the market share, in terms of revenue in 2018 
  • LAMEA is projected to occupy the highest market value, registering a moderate CAGR over the forecast period
  • Asia-Pacific amounted for more than two-fifths of the market share, by revenue, in 2018 
  • The market share has been analyzed across four major region and segments
  • The construction chemicals market size is provided in terms of volume and revenue

The Asia-Pacific and LAMEA construction chemicals market is expected to offer lucrative growth opportunities, during the forecast period, owing to the increase in economic development, expansion in the construction industry, and rise in the need for better infrastructure. The key players profiled in the global construction chemicals market include BASF SE, Arkema SA, Ashland Inc., Fosroc International Limited, Mapie S.p.A, Pidilite Industries, RPM International Inc., Sika AG, The Dow Chemical Company, and W.R. Grace & Company, and others.
 

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quote Construction Chemicals Market by Type (Concrete Admixtures, Water Proofing & Roofing, Repair, Flooring, Sealants & Adhesives, Asphalt Additives, Flame-retardants, shrinkage reducing agents, bond breakers, and mold release agents) by Application (Residential, Industrial/Commercial, Infrastructure and Repair structures): Global Opportunity Analysis and Industry Forecast, 2019 - 2026 quote

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