Rising Construction Activities To Drive The Construction Chemicals Market Growth

Global Construction Chemicals Market: Key Highlights

• According to the new market research report “Construction Chemicals Market by Type (Concrete Admixtures, Asphalt Modifiers, Adhesives and Sealants, Protective Coatings, Flame Retardants, and Others), by End-use (Residential, Industrial/Commercial, Infrastructure, and Repair Structures), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) — Global Forecast (2019 to 2027)”, the global construction chemicals market is projected to reach a value of USD 51 billion, registering a CAGR of around 5.5% during the review period
• Construction chemicals are formulations used with cement, concrete, and other construction materials to hold the construction material together
• They enhance concrete strength and quality while providing water-tightness and protecting concrete structures from atmospheric degradation
• Increasing number of construction activities across the globe is a key driving factor
• Fluctuating raw material cost of raw materials used in the production of construction chemicals is a restraining factor

Global Construction Chemicals Market: Key Market Dynamics

• Growth of the construction chemicals market is attributed to fast-paced industrialization and urbanization
• Rising population and migration to the urban area is a key factor driving this market
• According to the International Energy Agency, the building & construction sector account for 36% of global energy use and 39% of CO2 emissions
• Adoption of green chemicals is expected to create growth avenues as they are environmentally-friendly
• Various organizations such as the US Environmental Protection Agency and the REACH regulations promote the use of green chemicals

Global Construction Chemicals Market: Regional Overview

• Asia-Pacific

Asia-Pacific emerged as the fastest-growing region for this market owing to the rapid industrialization and urbanization in countries such as India, Malaysia, and Vietnam. According to Invest in India, the construction market in India is expected to emerge as the third-largest globally by 2025. The Indian government plans to invest USD 1.4 trillion in infrastructure projects in the coming 5 years.

• Middle East & Africa

With the upcoming mega-events such as EXPO 2020 and FIFA World Cup 2022, the construction industry in the region is expected to grow at a substantial rate. This is expected to result in the growth of the repair structures in the region, thus driving the construction chemicals.

Global Construction Chemicals Market: Key Players Overview

• Sika AG:

Sika AG engaged in manufacturing construction materials. The company produces concrete and mixtures, mortar, sealants and adhesives, tooling resins, anti-static industrial flooring, and acoustic materials. In January 2019, the company agreed to acquire Parex, a France-based company for the construction materials sector.

• RPM International Inc.:

RPM International Inc. manufactures and markets high-performance coatings, sealants, and specialty chemicals. In June 2019, the company’s business Tremco, acquired Schul International Co., LLC, a manufacturer of joint sealants for commercial construction, and Willseal LLC, a business that markets and sells Schul products.

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