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    Online Exclusives

    A Comprehensive Overview of the Construction Chemicals Market

    Rise in urbanization is estimated to be the main cause for the surge in the global construction chemicals market in the coming years.

    A Comprehensive Overview of the Construction Chemicals Market
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    Chaitali Avadhani , Research Dive05.17.21
    Abstract: Rise in urbanization is estimated to be the main cause for the surge in the global construction chemicals market in the coming years. Construction chemicals hold structures together and offer exceptional durability. Further, new product launches by key companies are predicted to flourish in the global market by ten folds.


    Chemicals have made their way into several fields such as pharmaceuticals, the cosmetics industry, research & development projects and construction activities. Some of the chemicals commonly found in the construction industry are sealants, waterproofing compounds and adhesives. Further, edifices are made with strong, robust, and long-lasting construction chemical products. Construction chemicals aim to augment quality, strength, assure water tightness, and protect concrete structures from atmospheric degradation. Moreover, construction chemicals improve workability, effectiveness, efficiency and speed up construction. Some of the widely utilized chemicals for construction purposes are as follows:
    • Admixtures;
    • Concrete curing compounds;
    • Water-proofing chemicals;
    • Surface retarders;
    • Installation aids;
    • Polymer bonding agents;
    • Mold releasing agents;
    • Ready to use plaster
    Why is the Construction Chemicals Market Witnessing Massive Growth?

    The global construction chemicals market is predicted to generate a revenue of $48.9 million by 2026, as stated in a report by Research Dive. 

     

    The construction chemical market is predicted to surge in the forthcoming years due to fast-growing urbanization and smart city developments across the world. For instance, according to a report published by statista.com, the global spending on construction activities was valued at $12 trillion before the COVID-19 pandemic and is estimated to increase by 3% per annum. 

     

    Also, spending on construction is projected to reach $19.2 trillion by 2035. One can expect expenses in projects like real estate (commercial or residential) and industrial or infrastructure structures. 

     

    Staista.com also suggests that the United States is one of the fastest-growing regions in the construction industry, with expenses reaching up to $1,293 billion U.S. dollars. Furthermore, in 2019-2020 Buenos Aires was predicted to experience rapid growth in construction activities and in 2021, the Asia-Pacific region is anticipated to be the largest construction industry globally.

     

    Apart from this, as per the figures by investindia.gov.in, the Indian construction sector is projected to enhance at a CAGR of 15.7% and exceed $738.5 billion by 2022. Another facet of the boom in the construction chemicals market is changing climatic conditions. During downpours, wet winters, and high heat the buildings may get damaged or deteriorate. To avert this, construction chemicals are preferred by all real estate businesses. Moreover, certain aspects of these chemicals like resistance to undesirable weather, strength, and durability are aiding in the growth of the global construction chemical market.

     

    Recent advances in the market by well-known industrialists or companies such as preparing product portfolios, planning advertising campaigns, looking for new and quality products, and aiming to launch new products are helping key businesses to expand the global construction chemicals market. For example, in December 2019, BASF, a chemical company, affiliated with Lone Star, a private equity firm, and signed an agreement for the acquisition of BASF’s construction chemical business. This acquisition aimed to expand the business to its full potential by finding a new place and the construction chemical business suits well for the product portfolio of Lone Star.


    Future Scope of the Market
    Our society is progressing day by day and so is the global population. The need to build houses for every family or individual in a community has become a priority for all government bodies. The construction industry is estimated to flourish in the upcoming years due to these reasons, thus aiding in the growth of the construction chemical market as well. 
     
    However, the COVID-19 pandemic has affected the market significantly due to stoppage in construction activities worldwide to curb the infection rate. For instance, as per a news article in April 2021, the Karnataka Government (India) has imposed a ban on all construction activities during weekends and has declared strict lockdown throughout the state. 
     
    Apart from this, the shift towards adopting eco-friendly chemicals for construction purposes to reduce carbon footprint is likely to create opportunities for the market in the forthcoming years. The future looks bright for the construction chemicals market in the post-pandemic world.      


    Bibliography:
    https://www.statista.com/statistics/788128/construction-spending-worldwide/
    https://www.statista.com/topics/974/construction/#dossierSummary
    https://gharpedia.com/blog/construction-chemicals/
    https://www.india.com/news/india/karnataka-bangalore-lockdown-news-2021-karnataka-tightens-restrictions-imposes-ban-on-this-weekend-lockdown-karnataka-shutdown-again-latest-news-today-4610496/
    https://www.investindia.gov.in/sector/construction#:~:text=The%20activities%20that%20registered%20the,at%20major%20ports%20(5.3%25).&text=Expected%20cement%20capacity%20addition%20of,annum%20over%20next%20five%20years.
    https://www.master-builders-solutions.com/en-in/about-us/news/lone-star-funds-to-acquire-basfs-construction-chemicals-business

    Author’s Bio: Chaitali Avadhani is currently working in the content writing industry and has a Master’s degree in journalism and mass communications from Savitribai Phule Pune University. Expressing her thoughts and perspective through writing is one of her biggest asset so far. Apart from this, she is a certified mountaineer and has passed out from Himalayan Mountaineering Institute, Darjeeling and has completed NCC with alpha grading. Outside the office she is actively engaged in fitness activities such as running, cycling, martial arts and trekking. 
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