Rise in construction sector in developing countries is the major reason driving the growth of the market.
Market Size – USD 46.70 billion in 2018, Market Growth – CAGR of 6.1%, Market Trends – Government initiatives to boost infrastructure growth.
New York, March 26, 2019 – The global Building & Construction Chemicals Market is expected to reach USD 76.00 Billion by 2026, according to a new report by Reports and Data. Building and construction chemicals belong to the class of specialty chemicals that are used in the construction sector. In construction projects, be it residential, commercial, or industrial, building and construction chemicals are used at various stages of construction to provide high durability, longevity and environmental sustainability to the constructed structure.
The market growth is growth primarily stimulated by rising construction activities in both new construction and repairs & rehabilitation activities. Various newly developed building and construction chemical products give superior performance and outcomes. Therefore, there is a swing in demand towards chemicals providing improved value addition in construction activities with products, like specialty cement additives, silicon caulks, polymer-based grouts and mortars among others.
The market growth will be primarily driven by increased investments in the infrastructure applications, which are anticipated to rise substantially during the forecast period. Government spending has been one of the major factors propelling the growth of the construction industry. The monetary constraint on the government has been mitigated by numerous public-private partnerships, thereby increasing the focus on development.
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Further key findings from the report suggest
- Concrete and mortar admixtures are estimated to have the highest growth rate of 6.3% during the forecast period. Concrete admixtures find application across commercial and residential buildings as well as infrastructures, such as bridges, roads, flyovers, etc. The segment for concrete and mortar admixture contributed to a significant share of the market size of the building and construction chemicals market and will witness a significant growth owing to its contribution to cement quality.
- The residential sector is projected to capture the largest market share with USD 15.88 billion in 2018. This dominance is chiefly owing to the increase in demand for residential buildings. Additionally, the increasing disposable income of individuals has created a demand for better-quality residential buildings, acting as a growth driver for the global construction chemical market.
- Construction of new buildings is estimated to reach USD 51.22 Billion by 2026 with a growth rate of 6.1% during the forecast owing to a rapid increase in the construction activities.
- The commercial sector is estimated to witness a growth rate of 6.1% in the forecast period reaching USD 16.80 Billion by 2026.
- Asia Pacific region has the largest market share for building and construction chemicals, followed by the regions of Europe and North America. China itself holds for largest market for building and construction chemicals globally contributing to a significant share of global construction chemicals market in 2018. Additionally, China is anticipated to continue to lead the global market due to increasing local demand for residential and commercial buildings. Other countries which are likely to drive the global market for building and construction chemicals are India, Russia, and Australia among others.
- Key participants include BASF SE, SIKA AG, W.R. Grace & Company, The DOW Chemical Company, RPM International Inc., SOPREMA Group, Asian Mortar, Dayton Superior Corporation, Dahsin waterproofing Co. Ltd., Bostik SA, Pidilite Industries, Arkema SA, Fosroc International Ltd., Ashland Inc., and Mapei SPA among others.
To identify the key trends in the industry, click on the link below:
For the purpose of this report, Reports and Data have segmented global building & construction chemicals market on the basis of type, application, end-user and region:
Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Hot-Melt Adhesives
- Reactive Adhesives
- Water-Borne Adhesives
- Solvent-Borne Adhesives
- Flame Retardants
- Inorganic Compounds
- Nitrogen Based
- Phosphorous Based
- Protective Coatings
- Exterior and Interior Paints
- Corrosion Resistant Coatings
- Abrasion Resistant Coatings
- Chemical Resistant Coatings
- Concrete & Mortar Admixture
- Super plasticizers
- Accelerating Agents
- Air Entraining agents
- Retarding Agents
- Water Proofing Chemicals
- Synthetic Rubber
- Mold Release Agents & Curing Compounds
- Mold Release Agents
- Curing Compounds
- Resin Based Curing Agents
- Grouts & Grout Admixture
- Cementitious Grout
- Grouting Admixture
- Epoxy Grouts
- Anchor Grouts
Application Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- New Construction
End-Use Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Regional Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- North America
- Asia Pacific
- South-east Asia
- Latin America
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