Asia Pacific, Middle East & Africa, and South & Central America Construction Chemicals and Materials Market to Grow at a to reach from 2022 to 2030

[Research Report] The construction chemicals and materials market is expected to grow from US$ 261.66 billion in 2022 to US$ 480.5 billion by 2030; it is expected to register a CAGR of 7.9% from 2022 to 2030.

MARKET ANALYSIS

Construction chemicals and materials are a diverse group of substances and products that are integral to the construction industry. These materials serve a wide range of applications, ranging from providing structural stability to enhancing the durability, safety, and overall performance of buildings and infrastructure. Construction chemicals and materials play a crucial role in infrastructure construction, facilitating the development of essential transportation, communication, and utility networks. High-strength concrete, corrosion-resistant steel, and advanced asphalt mixes are commonly used to ensure the longevity and structural integrity of these critical assets. Construction chemicals such as waterproofing agents and rust inhibitors are employed to protect against water intrusion and corrosion, reducing maintenance and repair costs over the long term.

GROWTH DRIVERS AND CHALLENGES

Construction chemicals and materials encompass a wide range of substances and products used in the construction industry to enhance the quality, durability, and performance of structures. India is one of the most significant construction markets globally. The growth in construction activities in India is fueled by continuing industrialization, burgeoning population, increasing middle-class income, and infrastructure development. Furthermore, expansion in the commercial sector with the increase in per capita income in developing countries accelerates commercial construction activities. In commercial construction, construction chemicals and materials are added to increase strength and corrosion resistance, and they also bring down the cement and water volume consumed during the construction process. Moreover, the adoption of construction chemicals and materials in commercial buildings enhances the performance of buildings.

However, the fluctuations in the prices of raw materials can adversely impact the market growth. Construction chemicals and materials often rely on specific raw materials, such as polymers, resins, and chemicals. Polymers are prevalent in every construction chemical formulation, ranging from admixtures to waterproofing chemicals. The prices of polymers fluctuate considerably due to various factors. For instance, if the cost of the oil involved in the production is raised, then the cost of the polymer is likely to go up as well. The demand also plays an important role in the cost of polymers. Supply shortages, growing feedstock, energy costs, and logistics problems are the main price drivers for polymers. Fluctuations in raw material prices affect the profit margins of manufacturers. When the cost of raw materials rises sharply, manufacturers may not be able to absorb the cost increases entirely. As a result, they might raise the price of their construction chemicals and materials. These factors could limit the construction chemicals and materials market growth.

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Asia Pacific, Middle East & Africa, and South & Central America Construction Chemicals and Materials Market: Strategic Insights

Market Size Value in	US$ 261.66 billion in 2022
Market Size Value by	US$ 480.5 billion by 2030
Growth rate	CAGR of 7.9% from 2022 to 2030
Forecast Period	2022-2030
Base Year	2022

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REPORT SEGMENTATION AND SCOPE

The "Construction Chemicals and Materials Market Analysis to 2030" is a specialized and in-depth study with a major focus on the construction chemicals and materials market trends and growth opportunities in Asia Pacific, the Middle East & Africa, and South & Central America. The report aims to provide an overview of the market with detailed market segmentation by product type and end-use industry. The market has witnessed high growth in the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of construction chemicals and materials in Asia Pacific, Middle East & Africa, and South & Central America. In addition, the report provides a qualitative assessment of various factors affecting the market performance in the Asia Pacific, Middle East & Africa, and South & Central America. The report also includes a comprehensive analysis of the leading players in the construction chemicals and materials market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.

Further, ecosystem analysis and Porter's five forces analysis provide a 360-degree view of the market, which helps understand the entire supply chain and various factors affecting the construction chemicals and materials market growth.  

SEGMENTAL ANALYSIS

The construction chemicals and materials market is segmented based on product type and end-use industry. Based on product type, the market is segmented into pipes (steel, composites, polyethylene, polypropylene, PVC, and others), concrete (superplasticizers, accelerators, retarders, and others), road construction materials (asphalt and modified asphalt, crack and joint sealants, and others), cables (polyvinyl chloride, polyethylene, silicone, and others), membranes (bitumen, ethylene propylene diene monomer, polyvinyl chloride, and others), and insulations (fiberglass, polystyrene, mineral wool, and others). On the basis of the end-use industry, the market is bifurcated into residential, commercial, industrial, and infrastructure. Based on product type, the pipes segment accounted for a significant share of the construction chemicals and materials market. Pipes are used for water and sewage, air conditioning, firefighting, and gas facilities at construction sites. Proper installation of these pipes ensures efficient and reliable water distribution, helping maintain the comfort and hygiene of the structure's occupants. Further, innovative pipe segments have emerged with manufacturing techniques and materials advancements. The adoption of PEX (cross-linked polyethylene) pipes has increased in plumbing due to their flexibility, ease of installation, and resistance to scale and corrosion. These factors are anticipated to bolster driving the pipes segment growth.

REGION ANALYSIS

Based on geography, the construction chemicals and materials market is segmented into Asia Pacific, Middle East & Africa, and South & Central America. The Asia Pacific was estimated to be around ~US$ 230 billion in 2022. The per capita income in Asia Pacific has increased, along with the development of affordable residential activities. Thus, Asia Pacific is witnessing rapid urbanization and a surge in the construction projects of residential and commercial buildings. The beneficial government policies related to residential properties in several developing countries of the region have propelled urbanization. Middle East & Africa is expected to register a CAGR of approximately 6% from 2022 to 2030. Countries in the Middle East & Africa are rapidly developing their public infrastructure, including airports, hospitals, and administrative buildings. This has resulted in the spurred demand for construction chemicals and materials. Furthermore, a surge in demand for construction chemicals and materials in residential buildings, coupled with rapid urbanization in the region, has enhanced construction activities, which is expected to support the construction chemicals and materials market during the forecast period. The construction of shopping malls and commercial complexes has increased due to the rising tourism industry and the growing number of immigrants. Furthermore, South & Central America is forecasted to be valued at over US$ 10 billion by 2030. Infrastructure development is a significant driver of demand for construction chemicals and materials in South & Central America. Governments in South & Central America are investing heavily in large-scale projects, such as transportation networks, energy facilities, and public amenities. These projects are essential for improving connectivity, enhancing economic growth, and raising the overall quality of life, resulting in a consistent need for construction chemicals and materials to support these initiatives. All these factors drive the construction chemicals and materials market growth in South & Central America.

INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES

The report provides a detailed overview of the construction chemicals and materials market.

In November 2022, BASF SE launched three new solutions in India under the Master Builders Solutions brand. These applications, designed to minimize resource consumption, improve productivity, and ensure buildings’ durability, are suitable for all types of construction projects, including infrastructures, traffic decks, car parks, and industrial, commercial, and residential buildings.

IMPACT OF COVID-19 PANDEMIC

The construction chemicals and materials market witnessed growth before the onset of the COVID-19 pandemic due to the increased use of construction chemicals and materials in the residential and commercial construction sectors. However, the pandemic adversely affected the chemicals & materials industry, resulting in the shutdown of manufacturing facilities, creating challenges in procuring raw materials and increasing restrictions on logistic operations. The unprecedented rise in the number of COVID-19 cases across the country and the subsequent lockdown of numerous manufacturing facilities negatively influenced the growth of the construction chemicals and materials market. Further, the overall disruptions in manufacturing processes, research, and development activities restrained the construction chemicals and materials market growth.

Moreover, the severely decreased construction activities reduced the demand for construction chemicals and materials in Asia Pacific, Middle East & Africa, and South & Central America. However, the market is reviving due to the government's significant measures, such as vaccination drives. Growing demand for construction chemicals and materials from the residential and non-residential construction sector is propelling the construction chemicals and materials market growth. Moreover, various players in the region are seeking more investment opportunities as businesses gain confidence in stabilizing economies and increasing demand, thereby providing the impetus for the construction chemicals and materials market growth.

COMPETITIVE LANDSCAPE AND KEY COMPANIES

Nova Steel Corp, Sanbor Plastik ve İnsaat San Tic Ltd Sti, Knauf Gips KG, Masdar Building Materials, Madar Building Materials LLC, Akcansa Cimento Sanayi ve Ticaret AS, Limak Cement, AKFA Group, Artikul Aziya Kabel LLC, and Gilan Holding are among the key players operating in the construction chemicals and materials market.