Construction Chemicals Market growth is driven by protective coatings demand in commercial and residential complexes | Key players are W. R. Grace & Co., Fosroc, Arkema, Henkel, AkzoNobel, Mapei, Evonik, BASF, Huntsman Corporation, Albemarle Corporation,

Based on the product categories, the construction chemicals market has been segmented into asphalt modifiers, protective coatings, concrete admixtures, adhesives and sealants. Asphalt modifiers finds its extensive use in the construction of roads and highways and is likely to grow with over 9% CAGR in the forecast period.

Concrete admixtures are further classified into chemical and mineral admixtures. Mineral concrete admixtures include silica fumes, granulated glass furnace slag, fly ash and rice husk ash. Chemical admixtures comprise of waterproofing admixtures, retarding agents, air-entraining agents, superplasticizers, accelerating agents and normal plasticizers. The segment accounted for over 50% of the market share and is expected to gain significantly in the coming years.

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Rising demand for the maintenance work of existing buildings is driving the sealants and adhesives market highly. Repairs and modifications done over existing constructions as per the trends in the industry are likely to, in turn boost the construction chemicals market.

According to the European Commission, buildings account for up to 40% of the total energy consumption and produce more than 33% of the overall greenhouse emissions in the region. The product ability to enhance the natural properties of the construction materials while reducing the overall carbon footprint provides them a competitive advantage. With various state and central level governments focusing on environment friendly, safer, and “greener” buildings, the construction chemicals market will witness a notable progress in the coming years. Protective coatings demand in commercial as well as residential complexes, in order to add fire resistant features to the building will grow significantly owing to increasing safety awareness.

Slow growth rate of the construction industry in the developed countries of Western Europe may pose a threat to the overall construction chemicals market in the coming years. Moreover, the European construction industry has been hit hard because of the financial and economic crisis in the union. Most West European countries exhibited a GDP growth rate below 2% in 2015 except Spain with 3.2%, and UK with 2.3%. Construction industry maturity in the countries, resulting into the sluggish growth rate, will restrain the construction chemicals market growth throughout the forecast span.

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Asia Pacific held a major chunk of share in the global construction chemicals market owing to urbanization and heavy industrialization in the developing countries such as India, China and Japan. In 2015, the region is likely to grow with a CAGR of over 9% during the forecast period and registered a revenue exceeding USD 14 billion. Rising population in the developing economies such as India, China Japan, Vietnam, Malaysia, Indonesia and others are boosting the regional construction chemicals market to new heights.

The construction chemicals market in North America generated over 3.5 billion in 2015 and will comparatively grow at a slower rate as compared to Europe and Asia Pacific owing to developed infrastructure and construction industry.

Presence of large scale manufacturers characterizes the global construction chemicals market competitive scenario, which is consolidated in nature. Principal product manufacturers include Sika Group, BASF SE, Arkema, W. R. Grace & Company, Dow Chemical, Ashland, Pidlite Industries, RPM International, 3M Company, Fosroc, Henkel AG, Evonik Industries, Tremco Group, Knopp GmbH, Tata Chemicals, Albemarle, MAPEI, AkzoNobel Chemicals, Huntsman Corporation, and Gujarat Alkalies And Chemicals.

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