Construction Chemicals Market
A range of chemicals are added to concrete, cement, and other construction materials to keep everything intact and increase the strength of the final mixture. These are used in large quantities in the civil repair and construction sectors. Therefore, the surging rate of urbanization in emerging economies has led to the large-scale consumption of such chemicals in these countries, as they make buildings more durable. Moreover, the rising need for infrastructure development in developing nations on account of the booming population will amplify the consumption of construction chemicals.
Moreover, the rising number of green buildings has fueled the consumption of such chemicals, as they have the potential to reduce carbon emissions. These chemicals increase the overall durability of buildings and offer them protection against environmental hazards. Apart from this, they also help in reducing the volume of water and cement consumed during the construction process. Hence, the rising awareness about energy conservation and environmental sustainability has led to the large-scale consumption of such chemicals.
The construction sector uses adhesives, concrete admixtures, flame retardants, protective coatings, sealants, flooring chemicals, and asphalt modifiers to increase the durability of structures and offer protection from environmental factors. In the coming years, a significant volume of concrete admixtures will be utilized for the construction of complex modern structures because they offer high workability, durability, and compressive strength, excellent wear resistance, and a better finish. Moreover, concrete admixtures make the structures watertight.
In 2017, the Asia-Pacific (APAC) region consumed the highest volume of construction chemicals due to the rapid growth of the construction sector in India, Japan, and China. Additionally, the rapid advance of the residential real estate sector, owing to the burgeoning population of middle-class people, resulted in the high-volume consumption of such chemicals in APAC. Moreover, several government initiatives directed at promoting infrastructure development boost the adoption of construction chemicals during the building of new commercial and residential spaces.
According to P&S Intelligence, APAC will register the fastest growth in the construction chemicals market due to the mounting need for these chemicals in the emerging economies of China and India. China is regarded as the construction capital of the world. The huge government investments in infrastructure projects will boost the requirement for construction chemicals in the country in the coming years, especially in its major cities, such as Shanghai, Hong Kong, Macau, Guangzhou, Chengdu, and Beijing.
With the increasing urbanization rate, especially in developing countries such as India, South Africa, Brazil, and China, on account of the rapid migration of people from rural areas to urban areas for better employment opportunities and a higher standard of life, the demand for construction chemicals is surging sharply. This is attributed to the fact that the soaring population of people in urban areas is positively impacting the demand for new buildings, offices, and factories, which is, in turn, fueling the launch of many large-scale construction projects.
Moreover, many private companies are making huge investments in the construction industry in order to meet the rising need for infrastructure, which is also generating lucrative growth opportunities for construction chemical producing companies across the world. As per the Council on Foreign Relations, the construction industry in Mexico surged by 2.0% from 2015 to 2016, on account of the huge investments that were made by private companies in commercial and residential real estate projects in the country.
Additionally, the rapid construction of green buildings, on account of the increasing concerns being raised over the escalating pollution levels and the burgeoning requirement for energy conservation in buildings, is also driving the sales of construction chemicals, thereby causing the expansion of the construction chemicals market. Moreover, green building materials can massively reduce the emission of harmful gases, which further boosts their popularity across the world. Additionally, these chemicals have the ability to improve the durability of buildings and provide protection against various environmental hazards.
Besides the aforementioned factors, the ability of these chemicals to reduce the requirement for water and cement during the construction process is also propelling their sales. Due to these factors, the revenue of the construction chemicals market is expected to rise from $55,111.6 million in 2017 to $80,025.4 million by 2023, while the market will exhibit a CAGR of 6.5% from 2018 to 2023 (forecast period), as per the estimates of the market research company, P&S Intelligence.
widely used flooring chemicals and flame retardants
Adhesives, protective coatings, concrete admixtures, sealants, asphalt modifiers, and others such as flooring chemicals and flame retardants are the most widely used types of construction chemicals across the world. Out of these, the demand for concrete admixtures was found to be the highest in 2017. This was because of the extensive use of admixtures, owing to their ability to reduce the cost of construction by modifying the traits of the hardened concrete. For instance, the addition of admixtures to water can reduce water requirement by 5–10%.
the sales of construction chemicals are predicted to rise at the fastest pace in the Asia-Pacific (APAC) region in the coming years.
This is ascribed to the burgeoning demand for construction chemicals in regional countries such as China and India.
China is widely considered as the world’s construction capital and the country is witnessing the launch of several construction projects.
Moreover, the government is also making huge investments in infrastructure projects.
which is also boosting the sales of construction chemicals in the country.
Construction activities are rising in urban areas due to the continuous migration of the rural population, primarily in developing countries. People from rural areas are moving to urban areas in search of better employment opportunities and improved standard of life.
This is driving the need for state-of-the-art infrastructure.
which has led to the construction of commercial units, airports, railway stations, stadia, and hotels in several countries.
For instance, the Saudi Vision 2030 project.
Abu Dhabi 2030 plan. and the Smart City Initiative of India.
will propel the demand for construction chemicals in the coming years.
focus on green buildings
Moreover, the growing focus on green buildings will fuel the demand for construction chemicals. The increasing consciousness regarding energy conservation is primarily driving the consumption of eco-friendly variants of construction chemicals. For example, the Qatar Green Building Council (QGBC) is focused on promoting green buildings and sustainability in Qatar.
Green construction chemicals are being applied to protect buildings against environmental hazards and improve their overall durability.
while having a lower negative impact on the environment.
For instance, these chemicals reduce the requirement for water and cement, which can improve the environmental prospects significantly.
The categories under the type segment of the construction chemicals market are:-
and others, which includes flame retardants and flooring chemicals.
Under this segment, the concrete admixtures category held the largest market share in 2017.
as this chemical helps in curtailing the overall construction cost by altering the characteristics of the hardened concrete.
Moreover, the concrete admixtures category is expected to exhibit the fastest growth in the forecast period.
This would be due to the widespread usage of admixtures in concrete to construct complex modern structures.
that require a high compressive strength, high workability, wear resistance, and durability.
In the past, the Asia-Pacific (APAC) region utilized the highest quantity of construction chemicals.
due to a significant surge in the construction activities in Japan, India, and China.
The rapid expansion of the residential real estate sector, on account of the booming population of the middle-class people.
has augmented the demand for these chemicals in the region.
Besides, the growing focus of governments on infrastructure development has boosted the application of construction chemicals in the APAC region.
APAC construction chemicals market
Furthermore, the APAC construction chemicals market will exhibit the fastest growth during the forecast period.
driven by the escalating need for construction chemicals in the emerging economies of India and China.
China has emerged as the construction capital of the world due to urban development in numerous major clusters, including:-
the Pearl River Delta,
Yangtze River Delta,
Moreover, the heavy government investments for such large-scale infrastructure development.
including of establishment smart cities, in China will fuel the demand for construction chemicals in the foreseeable future.
The expansion of the residential real estate sector and heavy investments in infrastructure development.
are leading to the high-volume consumption of construction chemicals.
Thus, the demand for construction chemicals is certain to explode in the forthcoming years.
primarily because of the increasing construction and infrastructural development activities.
on account of the surging population of urban people. and rapid construction of green buildings across the world.
Hence, the mushrooming focus on enhancing the durability of buildings and growing number of green buildings.
will accelerate the usage of construction chemicals in the immediate future.