Market Size of asia-pacific construction chemicals Industry
| Icons | Lable | Value |
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Study Period | 2018 - 2030 |
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Market Size (2024) | USD 39.25 Billion |
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Market Size (2030) | USD 59.22 Billion |
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Largest Share by End Use Sector | Industrial and Institutional |
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CAGR (2024 - 2030) | 7.10 % |
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Largest Share by Country | China |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Construction Chemicals Market Analysis
The Asia-Pacific Construction Chemicals Market size is estimated at 39.25 billion USD in 2024, and is expected to reach 59.22 billion USD by 2030, growing at a CAGR of 7.10% during the forecast period (2024-2030).
39.25 Billion
Market Size in 2024 (USD)
59.22 Billion
Market Size in 2030 (USD)
4.59 %
CAGR (2018-2023)
7.10 %
CAGR (2024-2030)
Largest Market by Product
35.29 %
value share, Waterproofing Solutions, 2023
Waterproofing solutions hold the largest share due to widespread applications of waterproofing, such as roofings, walls, basements, water tank linings, bridge decks, etc., from the industrial and commercial sectors.
Largest Market by End Use Sector
34.80 %
value share, Industrial and Institutional, 2023
Due to increased awareness of the safety, efficiency, and longevity of building structures in the industrial and institutional sectors, the demand for various construction chemicals, such as waterproofing solutions, admixture, etc., made the segment the largest among all.
Largest Market by Country
65.92 %
value share, China, 2023
The country has dominated the market with the increasing demand for construction chemicals in the industrial and commercial construction sectors coupled with urban infrastructure developments.
Fastest Market by Country
7.41 %
Projected CAGR, China, 2024-2030
With the fast pace of urbanization driving the need for new infrastructure, along with government initiatives and policies such as affordable housing schemes, China is expected to be the fastest-growing country in the region.
Leading Company
5.60 %
market share, Sika AG, 2022
The company's broad range of high-quality products, well-established network in the region, robust supply chain, and strategic expansions and acquisitions in the construction industry make it a major player in the market.
Asia-Pacific construction chemicals market to grow the fastest in the residential sector
- In 2022, the Asia-Pacific construction chemicals market witnessed a 2.58% increase in value compared to the previous year, driven by a surge in construction activities across the region. Moreover, the market was projected to expand by approximately 6% in 2023 over 2022 as end-user sectors are looking forward to significant growth.
- Accounting for a substantial 20.69% share in 2022, the commercial sector stands as one of the largest shareholders in the market. This dominance can be attributed to the rising number of commercial buildings characterized by intricate designs, diverse requirements, and substantial budgets, all of which result in a relatively wide variety of construction chemicals usage. Notable examples in the region include Shanghai Tower (China), Lotte World Tower (South Korea), and CentralWorld (Thailand).
- With the Asia-Pacific region housing over half of the global population, the residential sector is the second most lucrative segment. Factors such as urbanization, rising per capita income, and a surge in multi-story residential constructions, coupled with growing awareness about construction chemicals, have propelled the sector's value.
- Among the end-user sectors, the residential segment is poised for the highest growth, with a projected CAGR of 7.89% during the forecast period (2023-2030). This surge is fueled by the escalating demand for housing, driven by a burgeoning urban population and increased disposable incomes.
Understand The Key Trends Shaping This Market
China's dominance in the Asia-Pacific construction chemicals market owing to strong industrial and infrastructure sectors is expected to boost the market
- The overall demand for construction chemicals in the Asia-Pacific increased by nearly 3% in 2022 over 2021. The most significant increase was observed in the infrastructure sector, with a 6% higher demand than in 2021. In 2023, China and Indonesia were projected to see the most significant spikes, with estimated increases of 6.2% and 6.8%, respectively, over 2022.
- China, as the dominant player, accounted for over half of the Asia-Pacific construction chemicals market in 2022. This could be attributed to China's robust investments in its construction sectors, bolstered by its status as the region's largest economy. China's infrastructure spending in 2022 constituted 63% of the region's total. In China, the industrial and institutional sector was the largest consumer, accounting for nearly 36% of the total demand in 2022.
- Japan, following closely behind China, stands as the second-largest consumer of construction chemicals in the Asia-Pacific. This is due to Japan's urban-centric population, with 90% residing in cities, necessitating continuous infrastructure development for housing, offices, restaurants, and factories. Additionally, Japan's stringent building codes, a response to its heightened earthquake and tsunami risks, further contribute to the demand.
- During the forecast period (2023-2030), China is poised to witness the fastest growth in demand for construction chemicals, recording a CAGR of 7.5%. This surge can be attributed to the Chinese government's plan to ramp up spending on major construction and infrastructure projects by USD 1.8 trillion in 2023, which was a significant increase from the previous year.
