The global construction chemicals market is expected to witness a CAGR of 6.5% from 2019 to 2025 to reach 81.22 billion by the year 2025. Perpetual demand from construction industry is anticipated to drive the market growth over the forecast period. Additionally, favorable government regulations are expected to propel the market growth in the coming years.
Construction chemicals are mixtures (liquid, paste or powdered form) used in different elements of a project to achieve durability and workability. Concrete admixtures, corrosion protection compounds, curing compounds, waterproofing chemicals, and flooring compounds are the most common type of construction chemicals. Construction chemicals form a fraction of the total construction cost meanwhile imparting durability to the finished structure. This greatly reduces the repair and maintenance cost, additionally increasing the lifespan of the structure.
The global construction chemicals market is segmented into type, end-use, and region. The type segment is categorized into concrete admixture [minerals (fly ash, silica fume, rice husk ash, granulated blast furnace slag), chemical (normal plasticizer, super-plasticizer, hyper-plasticizer, accelerators, retarders, air entertainment, corrosion inhibitors)], water proofing chemicals (sheet membranes, liquid applied systems), flooring compounds (epoxy coatings, polyurethane coatings) and others (sealants, adhesives, protective coatings & resins). The end-use segment is categorized into residential building, non-residential building and nonbuilding. Based on region, the global market is segmented into North America, Europe, Asia-Pacific, Central & South America, and Middle East & Africa.
The years used for the assessment are as follows:
Historical years: 2015 – 2017
Base year: 2018
Forecast period: 2019 – 2025
Global Construction Industry: Overview
The global construction industry is expected to grow USD 8 trillion by 2030, with China, US and India leading the global market, accounting for over 50% of the total market share. Urban population of India is expected to grow by over 160 billion by 2030. This is expected to be the driving force of the construction industry in this region. Additionally, adoption of new services and technologies in infrastructure is anticipated to expedite the growth of this market over the coming years.
Construction chemicals – Regional outlook
By region, the construction chemicals market is segmented into North America, Europe, Asia-Pacific (APAC) and Rest of the World (RoW). Asia-Pacific held the largest share of the market in the year 2018, and is anticipated to retain its position throughout the forecast period. APAC exhibits immense growth potential owing to the rapidly expanding construction industry of this region.
China dominated the APAC construction market during 2015 to 2018. The 18th CCCPC 3rd Plenary Session (2013) stated that sustainability and quality are essential to an equitable economic structure. Transition of China towards a service driven economy will provide opportunity for high-grade construction in healthcare, education, and consumer-based markets. Additionally, rapid societal changes in China have created opportunities for companies that can offer high quality products and services, giving impetus to the construction chemicals market. However, due to slowing down of the housing market of China, the construction chemicals market experienced sluggish growth in the residential segment.
India is anticipated to register a significant CAGR over the forecast period. This can be attributed to the rapid adoption of concrete admixture in the construction industry. Moreover, presence of key players in this region is expected to boost the market over the forecast period.
The research and analysis are based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are:
Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, and other secondary sources.
Interacting with key opinion leaders of the market and developing data points.
Study of past trends in the market and their year on year impact on the market size and share.
Analyzing the collected data points.
Bridging the data points to calculate the total construction chemicals market and its various segments.
Anticipating potential risks
Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the construction chemicals
Finalizing the overall size and share for the global construction chemicals
To classify the global construction chemicals market into segments by type, end-use, and region and analyze their growth prospects individually.
To analyze market trends, opportunities, drivers and restraints associated with the construction chemicals market.
Profiling key companies operating in the global construction chemicals market.
To study market response with respect to the mergers and acquisitions in the industry.