April 18, 2024
Construction Chemicals Market

The Global Construction Chemicals Market is Trending Due to Increasing Infrastructure Development Projects

The global construction chemicals market comprises chemicals that are used for construction activities such as concrete admixtures, adhesives, sealants, protective coatings, asphalt additives, etc. These chemicals provide strength, waterproofing, and protective coverings to construction materials and find wide applications in residential as well as commercial construction projects including buildings, roads, bridges, tunnels, and others. Construction chemicals improve the overall performance of structures and extend their lifespan.

The Global Construction Chemicals Market is estimated to be valued at US$ 91.95 Mn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Construction Chemicals Market Size are 3M Company, Dentsply Sirona, Danaher Corporation, Mitsui Chemicals, Inc., Institut Straumann AG, Septodont Holding, Ivoclar Vivadent AG, Coltene Holding AG, GC Corporation, and Zimmer Biomet Holdings, Inc., among others. The growing construction industry worldwide coupled with increasing spending on infrastructure development projects especially in developing countries is fueling the demand for construction chemicals. Various governments across the globe are investing heavily in roadways, airports, railways, bridges, and other public infrastructure which is positively impacting the market growth. Additionally, the market is also witnessing significant opportunities in renovations and repairs of old buildings and structures in developed regions which is further driving the global expansion of the construction chemicals market.

Key market trends include increased usage of bio-based and green construction chemicals. With growing environmental concerns, producers are shifting their focus towards developing sustainable and eco-friendly construction chemicals derived from renewable plant and mineral sources with reduced volatile organic compound emissions. Bio-based materials like lignin, cellulose and carbohydrates extracted from wood, agricultural or algal biomass are being widely researched and incorporated in production of various resin additives, surface coatings and sealants. This trend is expected to boost the construction chemicals market during the forecast period.

Porter’s Analysis
Threat of new entrants: Low capital requirements for construction chemicals make threat relatively high.

Bargaining power of buyers: Buyers have high bargaining power due to availability of substitute products.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to differentiation in product quality.

Threat of new substitutes: Substitutes like industrial adhesives pose moderate threat.

Competitive rivalry: Intense due to global presence of large players.

The Asia Pacific region dominated the global construction chemicals market in 2020, accounting for around 35% share of the overall valuation. Countries such as China, India, Japan, and Indonesia have witnessed significant growth in construction activities in recent years owing to rapid urbanization and industrialization. These countries are expected to remain the major revenue pockets for construction chemicals over the coming years as well.

The Middle East & Africa region is likely to exhibit the highest CAGR in the global construction chemicals market over the period between 2024 to 2031. Factors such as abundant availability of natural resources, government efforts to diversify economies, and rising investments in infrastructure development projects are boosting the demand for construction chemicals in the region.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it