Market Overview
The Global Construction Chemicals Market is estimated to reach USD 92,379 million by 2025 from an initial market value of USD 52,056 million in 2017. The market is forecasted to grow at a CAGR of 7.5% in the period 2018-2025.
Researchers at Bath University are looking to develop a self-healing concrete, using a mix of bacteria within microcapsules, which will germinate when water enters a crack in the concrete to produce limestone, plugging the gap before water and oxygen have a chance to corrode the steel reinforcement. Choskey Chemicals Pvt. Ltd. has developed an advanced transparent waterproofing solution, Splash, for unreachable areas with lower curing times that bridge cracks and pores.
Market Dynamics
Drivers
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Increasing Construction Activity driving the construction chemicals market
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Increasing Adoption of Innovative Construction
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Growing Government Construction Developments
Restraints
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High prices of construction chemicals
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Strict Government Regulations and lack of skilled labor is hampering the growth
Market Segmentation
The Global Construction Chemicals market is segmented by product type into concrete admixtures, protective coating, industrial flooring, waterproofing, adhesives & sealants, grinding aids, and others including grouts & anchors and surface treatment chemicals.
The Global construction chemicals market is expected to grow at a steady rate during the forecast period owing to the increasing demand for different types of chemicals especially for applications such as flooring and waterproofing. In 2017, concrete admixture chemicals accounted for a significant share of the market, owing to an increase in durability, workability, and strength characteristics of a given concrete mixture.
Overall, the market for global concrete admixture construction chemicals is expected to grow at a CAGR of 6.1% to reach a market value of USD 21074 million by 2025 from USD 13146 million in 2017.
Waterproofing is the second largest segment owing to its importance in the prevention of water leakage and protection against chloride and sulfur attack, increasing the longevity of building structure. Waterproofing is the fastest-growing segment during the forecast period as increasing durability of the construction structure remains the top priority of builders and architects.
Geographical Analysis
Asia-Pacific leads market share by region, owing to rapidly growing urbanization and increased public and private investments towards housing and infrastructure development especially in countries such as India and China.
The construction chemicals market in North America is expected to witness stable growth during the forecast period, buoyed by an increase in unusually large commercial and infrastructural building projects in developed countries such as the USA and Canada, and continued efforts by builders and architects to reduce water and cement consumption, greenhouse gas emissions, and reducing curing time of concrete elements. South America accounts for the least share and is anticipated to retain its market position by end of the forecast period too.
The region of the USA 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 a 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.
Competitive Landscape
The global Construction Chemicals market is growing at a rapid pace and small players are acquiring a major market share. Globally, over 30% of the Construction Chemicals market is attributed to Four major players which are headquartered in the US or Europe. These recognized players include BASF SE, GCP Applied Technologies, Sika AG, and Chryso.
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