2015 saw a market size of USD 39.17 billion for construction chemicals globally. The CAGR from 2016 to 2024 is predicted to be 6.3%. According to the industry research reports in the coming years, increasing infrastructural development and growing demand, particularly in the Asia Pacific region, will drive market growth. Building and construction activities and other infrastructure activities are expected to grow the global market.
Over the forecast period, rapid urbanization by a number of developing regions is also expected to increase market growth. The biotechnology industry has been highly impacted by several regulations, so major companies have devoted significant resources to research and development. Market development is likely to be impeded by fluctuations in raw material prices and supplies. As construction activities and residential and non-residential building construction increase throughout the forecast period, the demand for these products will rise.
Construction chemicals are consumed most frequently in Asia Pacific. More than half the market share of this region comes from China and India. As the construction industry develops, this market grows. The global market is expected to be driven by the increasing spending on infrastructure development. It is projected that infrastructure spending in Europe will reach USD 508 billion by 2025, a growth rate of about 3% annually. In addition, this will lead to market expansion.
A total of USD 550 billion is expected to be spent on infrastructure in Latin America by 2025. Brazilian, Chilean, and Columbian investments occupy most of this region. The infrastructure industry has long been centered in North America. Canada’s infrastructure investment will reach USD 16 billion by 2023, while the U.S.’s will reach USD 100 billion.
In 2015, concrete admixtures comprised 64.7% of the market. Construction relies heavily on cement as a binding material. Typically, cement is made by blending crushed rocks (aggregate), sand, and water. Concrete is strengthened and finished by adding admixtures to it. The main purpose of concrete additives is to increase durability and reduce water content. Sulfonated Naphthalene Formaldehyde (SNF) and Sulfonated Melamine Formaldehyde (SMF) are among the principal types of admixtures used. Concrete was the first to use lingo-based admixtures among these types.
During the forecast period, the construction adhesives market is forecast to grow lucratively. Material quality is excellent. Adhesives are more durable and bond longer when they contain them. The adhesion of materials is primarily based upon cement, epoxy, and polymers. The majority of tile adhesives are cement-based. In both internal and external applications, they can be made of water-resistant cement or polymer-modified cement. A cold-curing epoxy adhesive will resist water, oil, alkalis, and many other solvents.
New construction and repair projects use protective coatings extensively. Oil, acid, solvent, and fuel-resistant coating offers resistance. Protective coatings commonly utilize chemicals such as polyurea, epoxy, urethane, and polyester. Floors, walls, and structural steel can be protected with water-borne, solvent-borne, or solvent-less coatings.
More than 67.0% of the global volume of construction chemicals was used in nonresidential and infrastructure sectors in 2015. Generally, joints, cracks, and other non-residential surfaces are sealed with non-residential materials. A sealant is also used in the construction process to protect a building against moisture, dust, and heat. Commercial and residential sealants have a wide range of applications.
Segment growth is expected to be boosted by projects such as the Panama Canal expansion. Increasing urbanization and improved lifestyles have led to an increase in ultramodern workplaces and offices.
Market growth in emerging markets such as China, India, South Africa, Turkey, and the Middle East will be aided by the positive outlook towards housing sectors in the near future. Increasing housing demand in developing countries such as Nigeria, Mozambique, and Zimbabwe, along with a growing spending capacity, will push construction chemical demand over the next few years
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