Construction Chemicals Market | Size, Growth, trends, covid-19 impact, and forecasts (2021 - 2027)
Construction Chemicals Market – Market Overview
Construction
chemicals are specialty chemicals used in various construction activities
residential, non-residential and renovation. These chemicals enhances the
overall performance of end products used in the building and construction. The
construction chemicals can be broadly classified into concrete admixtures,
waterproofing chemicals, flooring compounds, and adhesives & sealants among
others.
As the name
suggests, the market is highly dependent on the dynamics of construction
industry across the globe. On a holistic, the emerging economies such as Asia
Pacific and Middle East is expected to be the sweet spot for construction
chemicals. For instance, India’s vision “Housing For All by 2022” initiatives
is expected to boost the demand. Whereas, regained stability of housing market
and increasing reconstruction activities in developed economies is expected to
drive the demand.
The market
consumption trends vary region to region, for instance, the economic downturn
in 2008-09 in the U.S which had an adverse effect on the housing industry in
the country witnessed sharp decline in the ceramic tile industry. However, the
recent stats showing a positive outlook for housing market in the U.S for
2017-18 with low mortgage rates in the country beefing up new construction
activities. Hence, a positive prospect for the ceramic tile players operating
in the region. Since, the construction chemicals are majorly consumed in its
close vicinity of production.
Construction
chemicals Size are widely consumed among new residential and non-residential
constructions along with the reconstruction and renovation activities. With the
increasing population, urbanization, and industrialization in the emerging
economies such as Asia Pacific and Middles East are stimulating the
construction activities. These are some of the protuberant market compelling
factors for construction chemicals.
Amidst the decline
in oil prices in the GCC the construction activities in the region still
remains as a strong indicator for economic growth in the region. The
construction activities is expected to stimulate in the coming years with an
overall capital spending in GCC estimated at USD 480 billion of which 65% will
be towards infrastructure development. Accounting for the latter mentioned
factors it is healthy to assume a pool of market opportunities for construction
chemicals in the Middle East adding value to the global construction chemicals
market as a whole.
Protuberant trend
in the Construction Chemicals
Market includes. Furthermore, government initiatives in the emerging
economies for infrastructural developments is expected to stimulate the market
for construction chemicals. For instance, government of India’s proposed
spending in infrastructure accounting for 10% of the country’s GDP in its 12Th
five-year plans will boost the demand for construction chemicals in the
country.
Key Players:
BASF SE (Germany),
Arkema SA (France), Ashland Inc. (U.S.), Fosroc International Limited (U.K.),
Mapie S.p.A (Italy), Pidilite Industries Limited (India), RPM International
Inc. (U.S.), Sika AG (Switzerland), The Dow Chemical Co.(U.S.), and W.R. Grace
& Company (U.S.) among others. are some of the prominent players at
the forefront of competition in the Global Construction Chemicals Market and
are profiled in MRFR Analysis.
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Construction
Chemicals Market – Competitive Analysis
The construction
chemicals is a fragmented market, the competition is intense among the players
operating in this market with increasing demand for construction chemicals
players operating in the market wants to capture maximum share in the market.
Some of the strategies adopted by the players operating in the market includes,
capacity expansions, product launches and expanding geographical presence.
Industry/
Innovation/ Related News:
August, 2016
– BASF opened its first production plant in Sri Lanka for the production
of standard and custom-made performance based construction chemicals. The plant
was in line with company’s geographic expansion strategy to cater the
increasing demand from customers in Sri Lanka
April, 2016-, BASF
expanded its construction chemicals division in Russia. This expansion was in
line with expanding the waterproofing chemicals portfolio for the Russian
market.
April, 2016-, In
line with the rapid growth of construction industry in India, BASF launched
three new constructions solutions in the India market. Low-viscosity concrete
admixtures, waterproofing solutions and waterproofing solutions for parking
structure. The solutions launched are cost-effective, durable thus minimising
the resources used in construction and repairs.
February,
2016- Sika AG, opened two construction chemicals plant in Southeast Asia
addressing the increasing construction activities in the region. The plants are
located in Myanmar and Cambodia. This expansion was in line with company’s
strategy 2018, which involves penetration into new markets by opening new
factories.
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