Construction Chemicals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The construction chemicals market size was estimated at USD 47,997.12 million in 2020, and the market is projected to register a CAGR of over 6% during the forecast period (2021-2026).

The market was negatively impacted by COVID-19 in 2020. With the beginning of the COVID-19 pandemic, though, construction work stopped all across the world, especially in major construction hubs, like China, India, United States, and European nations. For instance, in South Korea, the construction industry is expected to contract by about 3% in 2020 due to the coronavirus outbreak and slower economic growth. Loss of investment plans and termination of planned projects might be experienced in the market after the lockdown and normalization of business operations, further affecting building and construction across the region.

• Over the short term, growing construction activities in the Asia-Pacific region, especially in ASEAN countries, increased adoption of new technology, and innovative construction procedures are some of the factors driving the growth of the market studied. For instance, Malaysia’s biggest megaproject, the MYR 44 billion (USD 14.3 billion) East Coast Rail Link (ECRL) project, is likely to drive the market for construction chemicals in the Asia-Pacific region.
• Increasing environmental regulations regarding VOC emissions remains a constraint for the growth of the market studied.
• The concrete admixture segment dominated the market by product type. Moreover, it is expected to witness the highest CAGR during the forecast period.
• The residential segment dominated the market. However, the industrial segment is expected to witness the highest CAGR during the forecast period.

Scope of the Report

Chemicals that are mixed with cement, concrete, and other construction materials to produce excellent construction material are termed construction chemicals. The market is segmented on the basis of product, end-user industry, and geography. By product, the market is segmented into concrete admixture, surface treatments, repair and rehabilitation, protective coatings, industrial flooring, waterproofing, adhesives, sealants, grouts and anchors, and cement grinding aids. By end-user industry, the market is segmented into commercial, industrial, infrastructure, residential, and public space. The report also covers the market size and forecasts for the construction chemicals market in 20 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

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Key Market Trends

Increasing Demand for Concrete Admixtures

• Concrete admixtures are ingredients that are added to the concrete mixture before or during mixing. Concrete admixtures reduce concrete construction costs by modifying the properties of hardened concrete, thereby ensuring better quality during mixing, transporting, placing, and curing. This allows users to overcome emergencies during concrete operations.
• According to the European Standard EN 206-1, the permitted dosage of admixtures to concrete should be less than or equal to 5% by weight of the cement. However, in conditions of low dosage, the admixture quantities should be less than 0.2% of the cement.
• The admixture is generally added in a relatively small quantity, ranging from 0.005% to 2%, by the weight of cement. However, overuse of admixtures has detrimental effects on the quality and properties of concrete.
• Based on function, admixtures are categorized into several types, which include air-entraining, retarding, accelerating, plasticizing, and water reducing, among others. The special category admixtures have various functions, including shrinkage reduction, corrosion inhibition, workability enhancement, alkali-silica reactivity reduction, bonding, coloring, and damp proofing.
• Asia-Pacific has the largest market for concrete admixture, owing to the massive growth in construction in India, China, and various Southeast Asian countries. Various incentives by the governments of the respective countries to promote the infrastructure sector, coupled with the booming residential sector (owing to the burgeoning middle-class population), have largely facilitated the growth of the construction sector in Asia-Pacific over the recent years.
• Demand for concrete admixture is increasing at a rapid rate. Manufacturers are responding to this demand and have started taking action. For example, BASF launched Master X-Seed STE admixture for the concrete industry in March 2019. The product was introduced specifically for the Asia-Pacific region, as it enhances concrete strength’s development and performance characteristics.

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