Construction chemicals are additives that are used with concrete, cement, and other construction materials to provide additional durability and workability to various structures. The type of chemical to be used depends on the size and nature of the project. Construction chemicals are used to obtain certain desired characteristics in concrete such as high workability, high compressive strength, and high performance and durability parameters to meet the requirement of complexity of modern structures. Hardeners are used with structures to seal them against moisture and making them dustproof by bonding the crystalline structure of cement.
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Admixtures can modify properties such as workability, water reduction, heat of hydration, dispersion and air-entrainment, accelerating or retarding setting time, impermeability and durability factors. Commonly used admixtures are hydro carbolic acid salts and ligno-sulfonates. Construction chemicals provide structures with enhanced bond strength and moisture retention, increased crack resistance of mortar, increased yield with same quantity of construction materials, decreases drying time of mortar and improves appearance.
Construction Chemicals Market Outlook – Need for Durable and Lightweight Materials Expected to Boost Demand
Rapidly increasing growing construction industry coupled with complex modern infrastructural needs fuels growth of construction chemicals market. Asia Pacific is one of the major contributors to the construction chemicals market. This is owing to constantly growing construction industry in emerging economies such as India and China. According to India Brand Equity Foundation (IBEF)—part of the Department of Commerce, Ministry of Commerce and Industry, Government of India—the Indian construction industry is expected to grow to a value of US$ 5 billion by 2020. Also, various government schemes and foreign investments have augmented the growth of construction chemicals market in the region. Growing infrastructural needs in India has attracted various investors such as Silver Spring Capital Management, Altico Capital, The Construction Industry Development Board of Malaysia, and many more. This in turn creates a conducive environment for market growth.
High price of construction chemicals is one of the restraining factors for the construction chemicals market. Mergers and acquisitions and expansions in various geographies are some of key strategies followed by the top players in the construction chemicals market. In August 2016, Pidilite Industries, a leading manufacturer of construction chemicals, adhesives and sealants, along with Industria Chimica Adriatica Spa (ICA) of Italy formed an equal joint venture company - Wood Coat. Developing an innovative product portfolio is also one of the key strategies for the new entrants in the construction chemicals industry. The Dow Chemical Company is developing construction chemicals with increased use of silicone, which will enhance the characteristics of construction chemicals. Some of the companies operating in the market of construction chemicals globally are Pidilite Industries, BASF SE, RPM International Inc., Sika A.G., The Dow Chemical Company, Fosroc International, Arkema S.A., Ashland Inc., Mapei S.p.A, and W.R. Grace.
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Construction chemicals Market Taxonomy
On the basis of type of product type, global market is classified into:
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