Construction Chemicals: Global Market Scenario, Trends, Opportunity, Growth and Forecast, 2020-2030

Market Definition

Construction chemicals are simply chemical substances utilised in the construction of constructions. One of the most important types of materials, polymers are formed during the production of practically all building chemicals. Construction chemicals are chemical mixtures used during construction to hold construction materials together, such as cement, concrete, or other building materials. Construction chemicals have emerged as one of the crucial elements of the chemical industry, contributing significantly to the growth of the world’s infrastructure.

Market Insights

From 2023 to 2030, the worldwide construction sector is anticipated to expand at a compound annual growth rate (CAGR) of 7.5%, with regions like MEASA and LATAM likely to contribute the most. Several building projects that were put on hold when the COVID-19 epidemic broke out have been reopened. India, Southeast Asia, and LATAM countries are witnessing rapid industrialization and urbanization, which is boosting demand for both residential and nonresidential construction. With several construction activities in place, this driver is anticipated to have a high impact on market volumes in the short and medium terms and a medium impact in the long term

Due to material shortages and transportation difficulties caused by the COVID-19 epidemic, construction projects were delayed, and construction sites were abandoned. These factors stifled the expansion of construction operations and skyrocketed the cost of building supplies. Residential building and the resumption of stopped projects made up most of the pent-up demand following the pandemic in 2020. A decrease in construction demand is anticipated starting in 2023 because of rising mortgage rates, a shaky economy, and recessionary fears. Continuous labour and material shortages will reduce profits and impede the building chemicals market’s revenue growth

As the construction sector expands and the market becomes more established, the demand for construction chemicals is anticipated to rise. The main growth drivers will be the rising volume of construction operations and the improved quality to meet customer demands. Because of the expanding population and accelerating urbanization, which will result in the construction of new structures and the use of construction chemicals, MEASA will have one of the fastest growing construction chemical markets. Global construction chemicals market stood at more than $40 billion in 2022 and expected to grow at a CAGR of more than 7% during 2023-2030.

Market Dynamics: Drivers

The Growing Number of Concrete-based Skyscrapers

The erection of tall structures has increased significantly. More than 1,750 structures will be built in 2022 alone, which is a considerable increase in the number of buildings taller than 200m. The United States, China, and the United Arab Emirates are the three countries with the most such structures. Originally constructed as business buildings, skyscrapers are now more frequently used in the residential and hospitality sectors. When building skyscrapers, the type of material used is crucial because even a minor structural flaw can cause a huge collapse. Construction chemicals that provide longevity can be added to the structure to increase its durability. As a structural material, steel has traditionally dominated the market. However, concrete’s market penetration expanded from 22.0% in 2000 to 52.6% in 2022, opening up new potential opportunities for concrete admixtures in tall structures. Building skyscrapers is a trend that is driven by urbanization. Because new skyscrapers are taller than older ones, construction chemicals are used more frequently.

Market Dynamics: Challenges

Growing Use of Alternatives to Tile, including Carpets, Vinyl, and Wooden Flooring

The market for flooring materials is dominated by ceramic and stone tiles, but tile substitutes including carpeting, vinyl flooring, and wood flooring are becoming more and more popular. Over the past two to three years, the demand for vinyl flooring—including luxury vinyl tiles (LVTs) and vinyl composite tiles (VCTs)—has increased significantly, and this trend is anticipated to remain for the duration of the projection period. Additionally, consumers’ preferences for eco-friendly products have grown, which restrains the expansion of the tile market because tiles are less eco-friendly and require more energy. The market for tiles will experience slow growth because to the increasing popularity of carpets, vinyl flooring, and wooden floors, which will reduce the demand for tile adhesives.

Market Segmentation

• Based on Product Type, the Global Construction Chemicals market is segmented into
  • Concrete and Mortar Admixtures
    • Plasticizers
    • Superplasticizers
    • Accelerators
    • Retarders
    • Air Entrainers
    • Others
  • Waterproofing Chemicals
    • Bituminous
    • Polymeric
    • Others
  • Tile Adhesive
    • Cementitious
    • Dispersive
    • Reactive Resin
  • Grout and Concrete Repair
    • Repair mortar
    • Repair grout
  • Protective Coatings
    • Epoxy
    • Polyurethane
    • Acrylic
    • Alkyd
    • Polyester
    • Others
  • Surface Treatment
  • Repair and Rehabilitation
  • Industrial Flooring
• Based on Application, the Global Construction Chemicals market is segmented into
  • Residential
  • Commercial and Industrial
  • Infrastructure
• Based on Sales Channel, the Global Construction Chemicals market is segmented into
  • Direct
  • Retail
  • Others
• Based on Geography, the Global Construction Chemicals market is segmented into
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa
• All market revenue has been given in US Dollar, while the market volumes are given in tons.

Historical Year: 2020-2021
Base Year: 2022
Estimated: 2023
Forecast- 2024-2030

 Key Questions this Study will Answer

• What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Market Size-By Volume, Forecast Numbers, Market Segmentation, Market Shares) of Global Construction Chemicals Market?
• What is the region wise industry size, growth drivers and challenges key market trends?
• What are the key innovations, opportunities, current and future trends and regulations in the Global Construction Chemicals Market?
• Who are the key competitors, what are their key strength and weakness and how they perform in Global Construction Chemicals Market based on competitive benchmarking matrix?
• What are the key results derived from the market surveys conducted during Global Construction Chemicals Market study?