Global Construction Chemicals Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Construction Chemicals Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Construction chemicals are specialty chemicals that are critical for sustainable buildings and energy conservation, increase the longevity of buildings and further enhance environmental hazards. Construction chemicals are chemical compounds used to change the properties of construction materials. Such chemicals reduce the water consumption of buildings. They have an important role to play in improving general construction and non-construction efficiency. Such chemicals can be divided into different product categories, including concrete admixtures, asphalt modifiers, protective coatings, thermal, insulation materials, sealants & adhesives. The use of construction chemicals in different building materials during the construction work enhances workability, and performance, adds functionality, and preserves the basic or customized elements of a structure. These chemicals are the most crucial element of any chemical industry. Construction chemicals have changed the milieus of the entire construction industry. Their application has improved the quality of building materials and is hence used extensively in construction projects to offer sustainability

Market Overview:

The latest research study on the global Construction Chemicals market finds that the global Construction Chemicals market reached a value of USD 25498.44 million in 2022. It’s expected that the market will achieve USD 13326.07 million by 2028, exhibiting a CAGR of -10.25% during the forecast period.

Influence of COVID-19 Outbreak on Construction Chemicals Industry Development

The distribution channel segment is divided into offline and online, the offline segment is dominating the market currently, and due to emergence of COVID-19, the online market witnessed a significant growth in 2020. The COVID-19 Outbreak has led to a decline in offline passenger flow, and the advantages of e-commerce companies have become prominent. During the epidemic prevention and control period, some Construction Chemicals enterprises did not carry out internet marketing and promotion for their business, so they encountered great resistance in undertaking business. For enterprises that fail to make good use of network promotion means, there is almost no market development during the epidemic period, and the original offline market development plan is disrupted, and the epidemic will face fierce market homogenization competition, which is expected to have a great impact on the company's business throughout the year.
The epidemic will have a short-term impact on Construction Chemicals industry, but it is relatively limited. Due to the impact of the epidemic, the production of raw materials and equipment procurement and transportation supply are difficult to be in place, and upstream enterprises affect the work schedule of downstream enterprises. Equipment manufacturing and product manufacturing enterprises in construction chemicals industry are affected to different degrees, and the production and delivery work may be delayed to some extent. Meanwhile, if it fails to meet the customer's delivery time requirements according to the contract, it may lead to the customer looking for another enterprise and lose business.

Strength

The demand for these chemicals is mainly driven by growing requirements for housing and infrastructure and new construction and its maintenance and Protective Coatings activities. It is also influenced by consumer awareness, need for durable and aesthetic civil structure, and other benefits achieved in making construction structure more economical for contractors and other interest holders. These construction chemicals improve the properties of construction such as compressive strength, durability, and resistance to undesirable working conditions. In addition, heavy downpours, wetter winters, and milder climate drastically reduce the durability of construction projects such as roads and buildings. The vulnerability of climate also affects the indoor climate of buildings as well. Thus, to overcome such problems, builders and developers highly prefer the construction chemicals. Due to these aforementioned factors, it is anticipated that construction chemicals will have potential growth, over the forecast period.

North-America construction chemicals market is a dominating market. The booming economy and significant market fundamentals for commercial real estate projects are anticipated to drive the demand for construction chemicals in this region. Also, an increase in state and federal funding for public works and institutional infrastructure also expected to boost the construction chemicals market, particularly in the US and Canada. Moreover, upcoming projects that are in the pipeline for the construction sector may fuel the growth of construction chemicals market in this region. The growing rate of middle-class residential housing is also projected to bolster the growth of the market.

Introduction to better product offerings for improving performances is anticipated to drive the growth of the North America and LATAM Regions market during the forecast period. These products include specialty cement additives, silicone caulks, polymer-based grouts and mortars, and others. The construction chemicals also provide the technological advantage that enhances the performance and endurance of structures while reducing corrosion. Corrosion prevention is also a driving factor for the market for construction chemicals, where chemicals comprising of floorings, surface coatings, corrosion inhibitors, concrete admixtures, repair mortars, and grouts & sealants are used to protect the surface from corrosion.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

Sika Group is one of the major players operating in the Construction Chemicals market, holding a share of 14.93% in 2022.

Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry.

For over a century, The Euclid Chemical Company has served the global building market as a worldwide quality supplier of specialty products and technical support services for the concrete and masonry construction industry.

Segmentation Overview:

Among different product types, Concrete Admixtures segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Industrial/Commercial segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Construction Chemicals market covered in Chapter 3:

Huntsman Corporation
Saint-Gobain S.A
Eastman Chemical
MBCC Group
PPG
Henkel AG & Company KGaA
Dow Chemical
Laticrete
H.B. Fuller
International (AkzoNobel Chemicals)
Sika Group
MAPEI
Wacker Chemie AG
Arkema SA
3M Company
RPM International

In Chapter 4 and Chapter 14.2, on the basis of types, the Construction Chemicals market from 2018 to 2029 is primarily split into:

Concrete Admixtures
Asphalt Modifiers
Protective Coatings
Thermal Insulation Materials
Sealants & Adhesives

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Construction Chemicals market from 2018 to 2029 covers:

Residential
Industrial/Commercial
Infrastructure

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)