Construction Chemicals Market To Reach $62.62 Billion By 2030

Construction Chemicals Market Growth & Trends

The global construction chemicals market size is expected to reach USD 62.62 billion by 2030, expanding at a CAGR of 3.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rising urbanization, coupled with various infrastructural developments are boosting the market growth.

Construction chemicals are the chemical compounds used to modify the properties of the construction materials. These chemicals reduce the amount of water used in construction. They play a crucial role in improving the overall performance of a building and non-building structures. These chemicals can be categorized into different product segments including concrete admixtures, construction adhesives, construction sealants, protective coatings, and waterproofing chemicals.

The most important group of raw materials found in almost every construction chemical formulation are polymers. In many cases, the chemical producer, construction chemical manufacturer, and end-user work together on the formulation to get the desired product. Most of the key players in this market spend around 3% of their total expenditure on R&D activities every year. BASF SE, The Dow Chemical Company, Bayer Material Science, Wacker Chemie AG, and SABIC are some of the major raw material suppliers for these chemicals.

China is the largest regional market for construction chemicals. The building and construction industry in China has been growing at a rate of around 16.2% annually. The non-residential building is expected to be the largest construction market. Rapid urbanization is one of the major factors for the growth of the construction industry in China. In 2014, the Chinese government launched “New Style Urbanization Plan (2014-2020)” to build green cities, smart cities, and cultural cities. In addition, EU-China partnership and agreements for urban development have played an important role in the development of the construction sector in China.

Non-residential and infrastructure end-use segment is expected to have high penetration due to rapid urbanization in emerging economies. On the other hand, the residential segment is expected to witness the fastest growth rate of 6.6% during the forecast years, in terms of revenue. Construction chemicals are used in new buildings, as well as for repair and rehabilitation of the old buildings. They reduce the water and cement content in the concrete and impart chemical properties such as cross-linking, which results in increased strength of the mortar.

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Construction Chemicals Market Report Highlights

• The global market for construction chemicals is projected to expand at a CAGR of 3.5%% over the forecast period

• The residential segment is projected to grow at the fastest CAGR over the forecast period.

• Sluggish growth in the European construction sector due to rising utility expenditure is expected to limit the market development in the region

• Major companies in the market include JSW; Pidilite Industries Ltd.; MAPEI S.p.A..; Sika AG; Ashland; Dow Chemical Co.; 3M; Evonik Industries; and Thermax Limited.

Construction Chemicals Market Segmentation

Grand View Research has segmented the global construction chemicals market based on product, application, and region:

Construction Chemicals Product Outlook (Revenue, USD Million, Volume in Kilotons, 2018 - 2030)

• Admixture

• Adhesives

• Sealants

• Coatings

Construction Chemicals Application Outlook (Revenue, USD Million, Volume in Kilotons, 2018 - 2030)

• Residential

• Non-residential

Construction Chemicals Regional Outlook (Revenue, USD Million, Volume in Kilotons, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • Thailand

  • Indonesia

  • Vietnam

  • Malaysia

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • Saudi Arabia

  • UAE

  • Oman

  • Kuwait

  • Qatar

List of Key Players in Construction Chemicals Market

• JSW

• MAPEI S.p.A.

• Sika AG

• Ashland

• 3M

• Arkema

• Evonik Industries

• Henkel AG & Co. KGaA

• Dow

• Thermax Limited.

• Saint-Gobain