The Global Construction Chemicals Market was valued US$ 42.4 Bn in 2020 is expected to reach US$ 65.2 Bn by 2027, with a growing CAGR of 6.3% during the forecast period (2020-2027).
Global Construction Chemicals Market is quite big and wide since a lot of urbanization has happened recently. Construction chemicals are used in constructing buildings, commercial spaces, hospitals, residential spaces, office spaces, schools, colleges, theatres, etc. Concrete is a substance which was first made using stone and sand mixed with water. Concrete has the lowest carbon footprint, it is a cost effective way to build strong and sustainable buildings which can stand strong in any environmental calamity and weather. Although concrete is less adaptable than other materials. The average lifespan of concrete buildings is about 100 years.
Coating can sometimes be decorative or functional. Coating may be applied to change the surface properties like adhesion, wettability, corrosion resistance etc. Construction adhesive is an adhesive used for sticking tiles and other objects on construction sites. Sealants are used for preventing fluids like water and other things like air, sound, dust to stop escaping from construction surfaces. Sealants are often used when concrete cannot be used in small spaces. Some of the most common sealants used are silicon based sealants, Urethane based sealants, Acrylic based sealant, Polysulphide based sealants.
Mortar is a practical mixture created by mixing water and an irrevocable, basically it acts like a glue which holds concrete and other materials together. Resin plays an important role in construction. Resin is basically an adhesive with a strong hold used in constructions. They are precise and have a lot of applications. One of the disadvantages of resins is that quite a few resins are poisonous. Polyurethane is used to make products that is strong and lightweight at the same time. It is predominantly used in furniture. It is also used on walls and ceilings of homes. Plastic is one of the most flexible construction materials used out there. Although the biggest concern about plastic is the issues related to recycling them and it’s environmental impact. The fact that plastic is very light as compared than metals also makes it very safe to use and transport.
Steel is one of the most widely used materials in construction, it is totally recyclable. Steel is used in creating bars, sheets etc. Majority of infrastructure around the world would be incomplete without steel. Also it is one of the most abundantly available and mass produced materials. Glass is one of the most traditionally used materials in construction, from palaces in ancient times to modern day skyscrapers in cities New York glass has always been an important factor in construction world over. Although it is a difficult process to produce glass.
By Material Type
By Applications
By Region
The construction sector is expanding at a growth rate of 6.3% during the forecast period 2021 to 2027
Construction sector is one of the sectors which has seen steep increase over the past few years. Rapid urbanization is one of the most important contributing factors for this. The technology used in construction has undergone massive transformation recently. The work is being done at a much faster pace than before. Also the safety standards have gone up. Software solutions like Autodesk BIM 360 and Tekla BIMsight has made it easier for the construction work to be carried out. The cost for construction materials has gone up very recently. Many construction houses are now focusing towards building eco friendly houses. Although this trend has seen a steep rise but it remains a luxury only few can afford. Some governments and organizations have taken up the initiative of building up smart cities.
3D printing is one of the most important trends in construction recently, it is not that widely used but is making live easier for many workers. Non residential building starts are going down in 2020. The surge in homes is credited to low interest rates, the pandemic is also one of the reasons for this.
Before the pandemic the construction sector accounted for around 7.7 percent of global employment. The impact of covid on construction sector differs from country to country. In some countries construction activities were deemed to be essential. Reduced liquidity was one of the major problems faced by the construction industry. Reduced spending capacity was also one of the reasons. Construction magnates have had to face the brunt of covid because the constructions could not be completed on time and this affected the profits and future projects as well. The pandemic affected the supply chain and indirectly the supply of raw materials.
Although construction is essential for the development of any nation and the economy but the safety of workers and other staff is also important in these times. In most of the countries the onsite workers are migrants and their living conditions are not suitable for social distancing and hence they are at higher risk for covid 19. Also travel restrictions has had a negative impact on construction projects since many workers were unable to commute during the lockdown. In some countries governments have made policies in order to reduce the negative impact of covid 19 on the construction industry.
Based on regions Asia Pacific is expected to have the highest CAGR between this forecast period.
North America is one of the most important markets for construction chemicals around the world. It’s rapid industrialization and growing economy has a major contribution of the construction sector. The residential population in the United States is growing at a pace like never before and the demand for houses is only going to increase. The US is also looking to improve it’s infrastructure by rebuilding its bridges, roads, hospitals etc.
Majority of the countries in Asia Pacific are developing countries and construction is one of the most important factors for the economies in these countries. Countries like India had to face sever migrant crisis during the covid 19 pandemic. The migrants had to leave for their homes barefoot during the nationwide lockdown. The Construction industry in India is expected to grow at 5.6% during 2016-20. In India initiatives like HRIDAY (Heritage city development and augmentation yojana) and Pradhan mantri awas yojana (Urban housing for all) are set to benefit the construction chemicals market.
Company Profiles and Competitive Intelligence
The major players operating in the Global Construction Chemicals market are The Dow chemical company, WR Grace and company, Ashland Inc., Bulwark chemicals, Maxroth chemicals, Amorphos chemicals private limited, Sika AG, Pidilite industries, Franklin internationsl inc., GCP applied technologies, H.B fuller company, Henkel AG and co, and Mapei s.p.A. among others.
The report also provides in-depth analysis of Global Construction Chemicals Market dynamics such as drivers, restraints opportunities and challenges.
Drivers
Restraints
Opportunities
The report also provides in-depth analysis of key trends in Global Construction Chemicals Market
|
Sr. No. |
Trends |
Impact |
|
1 |
Increase in prices |
Negative |
|
2 |
Improving infrastructure around the world |
Positive |
|
3 |
3d printing |
Positive |
The report also provides in-depth analysis of recent news developments and investments
The key players operating in the market are:
The unique insights provided by this report also includes the following:
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.
Market Introduction
Research Methodology
Executive Summary
Premium Insights
Market Overview & Competitive Landscape
Market Segmentation (Market Size and Share Analysis)
Market Dynamics
COVID – 19 Opportunity Mapping
Regional Market Analysis
Company Profiles
Research Methodology
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