The global construction chemicals market is growing, due to the growth of building & construction industry, along with technological advancement. Construction chemicals are chemical additives, added to concrete, Portland cement or other construction materials to enhance their structural properties and bind them together. These chemicals also provide protection against shrinkage cracks, leakages, other environmental chemicals; and therefore, enhance the durability of the civil structures. With the advancement of technology, newer and innovative products are being developed to improve workability and impart additional protection from environmental hazards. In addition, the use of these chemicals during construction also minimizes the quantity of water and cement generally required.
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Construction chemicals are widely used in the construction of commercial, residential, industrial and infrastructural projects. These materials can be classified into concrete admixture, waterproofing chemicals, flooring compounds, repair and rehabilitation, and other. Concrete admixtures are those which are added to concrete for enhancing its physical properties. Plasticizers, accelerators, air entrainment, retarders and corrosion inhibitors are some examples of concrete admixtures. Water proofing construction chemicals are used to prevent damage done by water on the exterior of the building. Flooring chemicals are used to prevent corrosion, abrasion, damage by other chemicals and most importantly to give aesthetic look to the floor. Repair and rehabilitation chemicals are used to repair damage, such as wear and tear, leakages, cracks, etc. Other construction chemicals include adhesive, sealants, protective coatings, grouts and resins.
Among the various types, the protective coating segment held the largest share in the global construction chemicals market in 2015, and it is expected to retain its dominance during the forecast period. However, the asphalt additives segment is expected to witness the fastest growth during 2016 – 2022, owing to increasing demand in superpave pavement formulations, asphalt shingles, modified bitumen roofing membranes, built up roofing asphalt (BURA), asphalt adhesives, sealants and coatings. The asphalt additive segment was valued at $2.9 billion in 2015 and is expected to grow at a CAGR of 7.5%, during the forecast period.
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The global construction chemicals market was valued at $41.7 billion in 2015, and it is expected to grow at a CAGR of 5.7% during 2016 – 2022. Asia-Pacific accounted for the largest share in the global construction chemicals market and was valued at $19.2 billion in 2015. China was the largest market share in construction chemicals market, and held more than 60% share of the Asia-Pacific market in 2015; however, India is expected to witness fastest growth at a CAGR of 10.9% during forecast period.
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