Rapidly increasing growing construction industry coupled with complex modern infrastructural needs fuels growth of construction chemicals market. Asia Pacific is one of the major contributors to the construction chemicals market. This is owing to constantly growing construction industry in emerging economies such as India and China. According to India Brand Equity Foundation (IBEF)—part of the Department of Commerce, Ministry of Commerce and Industry, Government of India—the Indian construction industry is expected to grow to a value of US$ 5 billion by 2020. Also, various government schemes and foreign investments have augmented the growth of construction chemicals market in the region. Growing infrastructural needs in India has attracted various investors such as Silver Spring Capital Management, Altico Capital, The Construction Industry Development Board of Malaysia, and many more. This in turn creates a conducive environment for market growth.
Admixtures can modify properties such as workability, water reduction, heat of hydration, dispersion and air-entrainment, accelerating or retarding setting time, impermeability and durability factors. Commonly used admixtures are hydro carbolic acid salts and ligno-sulphonates. Construction chemicals provide structures with enhanced bond strength and moisture retention, increased crack resistance of mortar, increased yield with same quantity of construction materials, decreases drying time of mortar and improves appearance.
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Admixtures can be further classified as chemical admixtures and mineral admixtures. Chemical admixtures include plasticizers, accelerators, and set retarders, which are used for water reduction and decreasing hardening time of concrete or cement. Mineral admixtures consist of fly ash, silica fume, blast furnace slag, and rice husk that are used to enhance the properties of cement. Waterproofing is a cement coating which when applied to permeable masonry surfaces forms a heavy-duty and durable finish which water resistant and increases the toughness of the surface. Construction chemicals are also used for repairing concrete structures and are suitable for structural and non-structural repairs. Flooring chemicals provide high bond strength and can be used with mosaic tiles, glazed tiles, granite tiles, terrazzo tiles, brick, and marble.
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High price of construction chemicals is one of the restraining factors for the construction chemicals market. Mergers and acquisitions and expansions in various geographies are some of key strategies followed by the top players in the construction chemicals market. In August 2016, Pidilite Industries, a leading manufacturer of construction chemicals, adhesives and sealants, along with Industria Chimica Adriatica Spa (ICA) of Italy formed an equal joint venture company – Wood Coat. Developing an innovative product portfolio is also one of the key strategies for the new entrants in the construction chemicals industry. The Dow Chemical Company is developing construction chemicals with increased use of silicone, which will enhance the characteristics of construction chemicals. Some of the companies operating in the market of construction chemicals globally are Pidilite Industries, BASF SE, RPM International Inc., Sika A.G., The Dow Chemical Company, Fosroc International, Arkema S.A., Ashland Inc., Mapei S.p.A, and W.R. Grace.