The global construction Chemicals market accounted for USD 105,737.53 million by value and 58,672.23 Kilo Ton by volume in 2020.

SEATTLE, WASHINGTON, UNITED STATES, October 11, 2020 /EINPresswire.com/ -- Market Overview
The global construction chemicals market is undergoing a substantial change with past advancements and currently conquering the market space. Increasing developments of the smart and energy-efficient buildings have further driven the demand for the construction chemicals market globally. Growth is also supported by increasing new construction and renovation activities across the world. Stay-at-home orders due to Covid-19 have driven the demand for DIY and certain multi-family construction projects which supported the construction chemicals market.

Silicone sealants are expected to dominate the construction sealants market due to their high durability and weatherproofing properties. Construction sealants are mainly used in glazing and room insulation purposes that led to a greater demand across the globe as the glazing is mainly pacing toward the energy-efficient buildings which will reduce of the greenhouse gas (GHG) emissions across the globe. The key factors limiting the market growth are the stringent norms, various regulations imposed toward the reduction in the global energy consumption, fire-safety and need for acoustic insulations. Regulatory standards to be met toward the reduction of harmful volatile organic compounds (VOCs) released by the use of these construction sealants is also hampering the sales.

Demand is expected for advanced sealants that offer higher performance and productivity such as strong adhesion to all types of building materials, including composites (e.g., Azek, Trex, Kleer) and traditional substrates such as fibre cement, vinyl, aluminium, wood, and metal. Construction chemicals with higher flexibility and joint movement to resist expansion and contraction without cracking or losing adhesion are meant to stand out in the competition.

Market competition is increasing greatly with growing new companies and technologies. New product launches, business expansions, mergers and acquisitions and partnerships/ collaborations/ joint-ventures are the key strategies followed in the industry. Utilization of innovative technologies is one of the strategies followed by many companies such as Bostik company offers mould-resistant sealants for construction activities

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Market Dynamics

Increased Industry focus on the use of products and materials with life-cycle information and that have environmentally, economically, and socially preferable life-cycle impacts are also driving the growth in the construction chemicals market. Glazing, flooring & joining, and sanitary & kitchen, among others, are the key applications for sealants that addresses energy efficiency and reducing GHG emissions from the buildings. Newer applications of sealants in ductwork, anchoring, and structural glazing in the construction industry are also driving the construction chemicals market.

Growing concerns for environmental and health issues are leading to the strict regulatory policies that restrict products with high VOC emissions and not meeting safety standards of the products. These regulatory norms are highly impacting the production capacities of manufacturers, especially in European and American regions. Frequent changes in regulatory rules and standards imposed by the Construction Products Regulation (CPR) is a growing concern among manufacturers that restricting the growth.

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COVID-19 Impact

Globally, COVID-19 pandemic has devastated economies and vastly and it is ongoing. Due to the halt of movement of people and business, mainly the construction sector. Manufacturing and transportation sectors have faced major disruption in sealants industry due to Covid-19 crisis. Manufacturers experienced a downturn in the late first/early second quarter, depending on the end-use sectors they serve, followed by the suppliers and distributors alike. Most of the industry activities underwent cancellation and postponement of the projects across the world. The industry has witnessed various hurdles such as rise in 12-15% export tax rebates, which are the highest over the past some time, for exported products like pigments and resins as China attempts to recover lost share due to both tariff restrictions and COVID-19.

However, some improvements were seen over the recent months, particularly in building and construction as especially new residential construction activities at a slow pace with delays in sourcing raw materials across the nations. The “stay-at-home” has benefited DIY products on a short term, as most of the people are confined to their homes, and home improvement projects Especially for interior applications where it demanded interior DIY home repair and remodelling products.

Despite the slowdown in the construction sealant market with Covid-19 Crisis, the Adhesive and Sealant Council (ASC) is supporting industry members with communication, education, and engagement opportunities. The main aim of ASC is to educate the members on how they could be responsive and prepare for the current emergency in the times of crisis. ASC further developed a new Crisis Recovery Program to support members of the council to meet their targets due to COVID-19

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Segmentation by Product

Based on the product type the construction chemicals market is segmented into Concrete Adhesives, Water Proofing Chemicals, Tile Adhesives, Repair and Rehabilitation, Adhesives and Sealants, and others. Concrete Admixtures dominate the global construction chemicals market. Silicone sealants are expected to lead the construction sealants market over the forecast period to 2025. Silicone sealants are widely used in glazing, bathroom, and kitchen applications for use in expansion joints for joining dissimilar materials; and it also provides weather protection to high-rise buildings and offers flexibility for airport runways and highways as they are flexible and do not crack in warm weather or brittle and crack in cold weather. Modified silicone sealants are expected to grow at a faster rate over the forecast period due to their high performance and economical behaviour

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Segmentation by Geography

APAC is accounted for the major growth and has emerged as the leading consumer and producer of construction chemicals. The growth in the Asia-Pacific region is driven by increased foreign investments besides cheap labour and availability of raw materials. Government initiatives to improve manufacturing and rising capital intensive non-residential construction along with growing developments in the construction of end-use industries including steel plants, helicopter manufacturing plants, wind power plants, oil processing plants, high-speed rail lines, airport expansions, and power plants constructions are expected to drive the construction sealants market in APAC region.

Bhanu Reddy
Global Monitor
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