As these are specialty chemical formulations, construction chemicals are added in specific amounts to cement, concrete, and other building materials. These chemicals are used to satisfy the aesthetic, functional, and design requirements of civil structures. Thus, design professionals, civil contractors, and concrete manufacturers receive assistance in new building constructions and renovation of old structures for ensuring the highest degree of structural rigidity and that the buildings are not harsh on the environment as well. The use of construction chemicals also helps constructors and owners comply with green building norms and safety regulations for the stability of buildings.
Banking upon these benefits, the global construction chemicals market will be valued at US$37.7 bn by 2019 increasing from US$21.1 bn in 2012 at a CAGR of 8.7% therein, says Transparency Market Research, a global market intelligence consultancy.
BRICS Nations to Propel Growth of Construction Chemicals Market
In BRICS nations, conscientious governmental efforts for infrastructure development and initiatives to address housing gaps have led to rapid growth of the construction sector. This will open immense opportunities for growth of the construction chemicals industry in these countries by 2020.
In 2013, China led the global market for construction chemicals with a volume share of more than 40% in the global market. Rising urbanization, combined with government investments for infrastructural development, is the reason for this. The forthcoming Olympic Games in 2016 in Brazil have boosted the overall construction sector in the country, due to which the construction chemicals industry has benefitted immensely.
Building Restoration Works, New Construction Developments Exhibit Demand for Specialty Chemicals in India
In India, there is a sizeable count of old buildings, which include historical buildings, governmental and administrative establishments, ancestral homes of families, etc. that need substantial structural repairs to save them from collapsing. Due to the sentimental value of these properties, construction chemicals seem imperative for renovation of such old structures in the short term.
In India, the state of newly constructed buildings is also often subpar, resulting in an increased demand for construction chemicals. In the country, the tropical climate and practices of using inferior building materials by builders necessitate repair works for buildings a few years after construction, which include restorative materials such as construction chemicals. The India construction chemicals market is highly fragmented, with the presence of a large number of small and specialized product manufacturers. Among the small suppliers, the standard practice is to import these chemicals, whereas large companies having a global presence have local manufacturing facilities in India.
India’s construction chemical industry, a sunrise industry at present, is experiencing development at a rapid pace. ‘Construction Chemical Conclaves’ is an industry meet that is being organized since 2010 by the Federation of Indian Chambers of Commerce and Industry (FICCI) in association with the Department of Chemicals and Petrochemicals (C& PC) in order to bring about consolidation in the sector.