Construction Chemicals Growth Opportunities

The Increasing Product Sustainability will Boost Future Growth Potential

Construction chemicals are a mixture of substances (in liquid, paste, or powder form) that are used to increase productivity and performance and boost the functionality of construction materials. The scope of this study is confined to concrete and mortar admixtures, waterproofing chemicals, tile adhesives and grout, and concrete repair. The market creates growth opportunities for construction chemical manufacturers, raw material suppliers, distributors, and end consumers (considering market penetration and geographic expansion activity).

The global construction chemicals market is expected to grow along the lines of the construction industry and further market penetration. Increasing construction activities and quality to cater to consumers' growing needs are the primary market growth drivers. India, Southeast Asia, and Latin American countries are witnessing rapid industrialization and urbanization, which is boosting demand for both residential and nonresidential construction.

Material type plays an important role in the construction of skyscrapers, as even a small failure in building structure can lead to a massive collapse. The structure can be made more durable by incorporating construction chemicals that offer longevity. In addition, rising awareness of the benefits of waterproofing chemicals is driving their consumption, especially in large projects.

The concrete admixtures market is mature in developed regions such as North America. Basic admixtures, such as plasticizers and super-plasticizers, are used in almost every batch of concrete. The use of ready-mix concrete (RMC) is also high in these regions; approximately 75% of the cement used in the United States is RMC. However, low usage rates and growing construction activities in Latin America will be responsible for the high penetration of concrete admixtures in the market.

The construction chemicals market is highly fragmented, and it comprises global and regional leaders. The primary competitive factors are cost and quality. In price-sensitive countries, such as India, which are witnessing significant growth in construction activities, consumers demand the best quality at low prices. Decisions are taken based on immediate cost and not on overall life cycle cost. In addition, the rising cost of transportation activities affects manufacturers' profit margins.

The base year for the study is 2022, with forecasts running through to 2029, and the geographic coverage is global, with a focus on the Americas, Europe, APAC, and MEASA.