The latest rebound of the construction industry in most regions of the world is driving strong demand for construction chemicals including concrete and cement admixtures, asphalt modifiers, waterproofing chemicals, adhesives and sealants, flame retardants and protective coatings. The greatest growth is taking place in emerging economies, where governments are investing heavily in infrastructure and housing development, but rising consumption of construction chemicals is also occurring in the mature markets in India. Construction chemicals that increase performance, reduce cost, facilitate connection and speed up job completion are experiencing the greatest growth. Several market research firms estimate that the global market for construction chemicals will be valued at close to $24 billion by 2020 to 2022. Research and Markets pegs the value at $18.4 billion in 2016 and anticipates a compound annual growth rate (CAGR) of 6.8% between 2016 and 2022. The healthy rate is attributed to strengthening of the construction markets (infrastructure, industrial, commercial, and residential) in developing economies in India with rapid population growth, rising disposable incomes and increased urbanization and industrialization in these regions. Changing lifestyles and the desire for enhanced aesthetics, particularly in residential buildings and commercial structures are other main drivers. Construction chemicals are of increasing importance to the construction industry because they inform design flexibility through their ability to modify and enhance the physical and chemicals properties of structures such as compressive strength, durability the surface finish and resistance to opposing climatic and working conditions, according to Markets and Markets. The various construction chemicals are also designed to improve workability and performance. The compatibility of different construction materials as well as protect construction materials and complete structures. Depending on their projected use construction chemicals can serve to increase the durability and improve the aesthetics of a building. Reduce dependence on natural resources used in construction projects and conserve time, money and energy during construction. Leading players in the market include BASF, Bostik and FOSROC International among others. Significant investment in R&D by these companies has led to notable advancement in construction chemical capabilities over the last 10 years. Construction chemicals are important for robust mixing of materials and durable buildings. Progressively, product advancements in the market are also making way higher energy efficiency and additional protection from environmental risks. Moreover, the demand for environmentally friendly products also continues to surge especially for residential complexes. Moreover, concrete admixtures including water and cement capacities more growth during 2018-2026 as lower usage of cement promises higher cost-savings for the end-construction sector. The upcoming construction chemicals market report will feature many end-applications including waterproofing, admixtures, repair, sealants and flooring. Moreover, the rising demand in the market continues to come from ligno-based admixtures. The conventional PCE-based admixtures are generally a few times more expensive than the new variety, which continues to drive demand for the new segment. The growing demand for construction infrastructure, increased importance of construction chemicals and new cost-effective variety will drive strong growth for the concrete admixtures market.
