Published August 2022
The construction industry contributes about 13% to the global GDP, and is one of the most important elements of every economy. Real growth of the global construction industry was less than 2% annually on average during 2017–22, but is expected to increase to about 3% during 2022–27. Specialty construction chemicals are used to enable/ease manufacturing or improve the performance of existing construction materials. Consumption of the specialty chemicals will also grow at about the same rate, but at a higher rate on a sales value basis. Mainland China alone accounts for about 35% of the total value of specialty construction chemicals, followed by Western Europe and North America.
There is no generally accepted definition of construction chemicals. The list can be quite extensive. The construction chemicals market includes materials such as concrete admixtures; asphalt emulsions; adhesives and sealants; roof, floor, and waterproofing coatings; and spray insulation foams. These specialty chemical products are covered in depth in this report. The remaining construction chemicals market includes products like bituminous membranes for waterproofing, grouts, mortars, cement additives, expanded polystyrene insulation boards, and many other products that are more commodity-like.
Mainland China by far consumes the most concrete admixtures of any region, and will continue to do so, as almost half of all planned global high-rise buildings are scheduled to be built in mainland China through 2025. These tall buildings are almost always made of concrete.
The following pie chart shows world consumption of construction chemicals on a value basis: August 2022 Construction Chemicals Specialty Chemicals Update Program
The construction industry is quite diverse with many users. There are numerous suppliers of construction chemicals, including many small and midsized companies that operate on a regional basis. There are a limited number of multinational producers, including MBCC (formerly BASF), Sika, MAPEI, GCP, and others. These companies focus on the production of concrete admixtures, asphalt emulsions, adhesives and sealants, specialty coatings, and spray insulation foams, as well as other products.
Some of the chemicals used by the construction industry have been growing rapidly in recent years, even in the mature developed areas like North America, Western Europe, and Japan, including the following:
- Concrete admixtures, increasingly used for producing superstrong concrete needed to build taller buildings that have relatively large open areas on lower floors to maximize rental fees. Demand for admixtures and cement additives has been increasing, particularly as a result of the increased performance requirements placed on concrete and mortar, especially in urban areas and for infrastructure construction.
- Polymeric modifiers in asphalt, which improve wear resistance, reduce noise, increase skid resistance, prevent softening at low temperatures, and increase longevity with reduced maintenance costs.
- Insulation and sealants applied on-site, which can function as air/water barriers in walls or on roofs. Use is growing as builders and architects work to reduce building energy consumption to meet revised building codes and green building guidelines. Of particular interest are spray polyurethane foams (SPFs) that can be applied by the homeowner.
- Sealants, use of which has been growing as builders and home owners want to increase the overall durability and energy efficiency of structures.
- Roof coatings, used to extend the lives of existing roofs to reduce “tear downs” or to provide solar reflectance (“cool roofs”), serving to keep buildings cooler in hotter climates to reduce air conditioning costs.
For more detailed information, see the table of contents, shown below.
S&P Global’s Specialty Chemicals Update Program – Construction Chemicals is the comprehensive and trusted guide for anyone seeking information on this industry. This latest report details global and regional information, including
Key benefits
S&P Global’s Specialty Chemicals Update Program – Construction Chemicals has been compiled using primary interviews with key suppliers and organizations, and leading representatives from the industry in combination with S&P Global’s unparalleled access to upstream and downstream market intelligence and expert insights into industry dynamics, trade, and economics.
This report can help you
- Identify the competitive environment and key players
- Assess key issues facing both suppliers and their end-use customers
- Understand industry integration strategies
- Keep abreast of industry structure changes, regulatory requirements, and other factors affecting profitability
- Identify new business opportunities and threats
- Follow important commercial developments
- Recognize trends and driving forces influencing specialty chemical markets
