Asia-Pacific Construction Chemicals Market Outlook, 2028

The construction sector in the Asia-Pacific region is experiencing a remarkable expansion, significantly influencing the growth of the construction chemicals industry. This expansion is driven by a multitude of factors, one of the most prominent being the strong impetus from government initiatives and infrastructure development projects. Many countries in the Asia-Pacific region are prioritizing extensive infrastructure investments to accommodate rapid urbanization and population growth. This has led to an increased demand for construction chemicals, as these projects necessitate specialized materials to ensure the durability, safety, and longevity of the built structures. The Asia-Pacific area has the largest market for concrete admixture because to the rapid growth of buildings in nations like China, India, and other Southeast Asian countries. The governments of the respective nations' various incentives to promote the infrastructure sector, along with the booming residential sector (due to the expanding middle-class population), have greatly contributed to the recent expansion of the construction industry in Asia-Pacific. The allowable dose of admixtures in concrete should be less than or equal to 5% by weight of the cement, as per European Standard EN 206-1. The additive proportions should be less than 0.2% of the cement in low dosage situations, nevertheless. The admixture is often applied in modest amounts, typically between 0.005% and 2% of the cement's weight. However, using admixtures excessively has a negative impact on the characteristics and quality of concrete. According to the Federation of Indian Chambers of Commerce and Industry (FICCI), the number of dwellings built and sanctioned under the Pradhan Mantri Awas Yojana (PMAY) plan in India's metropolitan regions in 2022 was roughly around 5.5 million and 11.4 million, respectively. According to Anarock, a renowned real estate service company in India, housing sales hit an all-time high in 2022, with more than 300,000 housing units sold in India. This surpassed the previous record of 2014 in terms of all-time high sales of houses throughout India's top seven cities. House sales in the country increased by about 16% in the fourth quarter of 2022 compared to the fourth quarter of 2021. These increasing projects have increased the market of construction chemicals. According to the research report "Asia Pacific Construction Chemicals Market Outlook, 2028," published by Bonafide Research, the Asia Pacific market is anticipated to grow with more than 7.5% market CAGR in the coming years 2023-2028. The market for construction chemicals in the Asia-Pacific region has grown significantly in recent years, propelled by a number of important factors that when taken together have created a favorable environment for the sector. A number of economic, demographic, and technological trends have combined to increase the need for building chemicals in the area, which is the cause of this expansion. Both urbanization and population expansion have been happening quickly in the Asia-Pacific region. Construction work increases when more people relocate to cities in order to accommodate the growing population. As a result, there is now more need for construction chemicals, which are crucial for improving the functionality, resilience, and sustainability of various building materials and structures. Governments in the region have also made significant investments in infrastructure development, including the construction of roads, bridges, airports, and public buildings. Advanced construction chemicals are necessary for these substantial infrastructure projects for things like concrete admixtures, waterproofing, and corrosion protection. As a result of these governmental investments, the construction chemical sector has seen a significant uptick.

The major market contributors to the Asia Pacific construction chemicals market are China, Japan, India, Australia, South Korea, and the rest of Asia Pacific. Because of the boom in construction activity, the Asia Pacific has been marketed as one of the top markets for employing construction chemicals. Also encouraging the establishment of various manufacturing facilities in India are government policies and programs like Make-in-India. Furthermore, the region's construction chemical producers are being strongly pushed to use environmentally friendly and cutting-edge materials in concrete admixtures, waterproofing, and industrial flooring as a result of growing government and foreign investment in large-scale projects there. The demand for construction chemicals in the Asia Pacific area is expected to rise due to the increasing number of building chemicals utilized in many residential and non-residential sectors. The development of the market is facilitated by the building and construction sector. For instance, the construction sector, along with the output generated from real estate services and ownership of dwellings, contributes 18% to the economy's total output, as per the report. China dominates the market of construction chemicals in 2022; this is directly linked to the country’s population and rapid urbanization. Along with this India, the market is anticipated to grow with more than 13% CAGR from 2023-2028. CCMA (Construction Chemical Manufacturers Association) India is an organized body working to promote the use of Construction Chemicals in India. The report is segmented based on the Product Type into Concrete Admixture, Waterproofing Chemicals, Repair and Rehabilitation, Adhesives and Sealants, Industrial Flooring, Surface Treatment, Cement Grinding Aids, Protective Coatings, and Grout & Anchor. In Asia Pacific, the concrete mixtures are leading the market. In recent years, the Asia-Pacific region's market for adhesives and sealants has grown significantly, propelled by a confluence of macroeconomic, industrial, and technological factors that have combined to foster a supportive environment for the sector. Rapid urbanization and industrialization in the Asia-Pacific area have increased the region's construction, manufacturing, and automobile industries. Since they are used to attach, seal, and join a variety of materials and components, adhesives and sealants play a key role in various industries. The demand for cutting-edge adhesive and sealant materials, which provide exceptional performance, durability, and flexibility, rises as these industries develop. The grout and anchor market in the Asia-Pacific region is experiencing notable growth, propelled by a multitude of factors that are reshaping the construction and infrastructure landscape across the region. Grouts and anchors play a pivotal role in the construction industry, providing structural stability, reinforcement, and safety in various applications. This demographic shift has spurred the need for new residential and commercial spaces, as well as infrastructure development, resulting in a high demand for grouting and anchoring solutions. As a result, the market has seen a considerable boost from these public investments, especially in countries like China and India, where massive infrastructure expansion initiatives are underway. Based on the End User Industries segment, the market is divided into Commercial, Residential, Industrial, and Infrastructure. Compared to residential, industrial, and infrastructural projects, commercial buildings frequently have more complicated and specialized construction needs. High-rise buildings, malls, office buildings, hotels, and other commercial buildings may be among them. To achieve specific performance requirements and legal requirements, these constructions frequently call for a variety of construction chemicals for varied uses, including concrete admixtures, waterproofing, sealants, and adhesives. Numerous residential construction projects use construction chemicals, which improves the calibre and durability of houses and apartment complexes. In order to handle large weights, corrosive environments, and particular operational needs, industrial facilities require robust construction solutions. They support the durability and security of these important assets. These make concrete used in infrastructure projects stronger, more durable, and easier to work with, guaranteeing that they can endure high traffic volumes and environmental variables. Asphalt additives and pavement sealants are two examples of construction chemicals that improve the functionality and lifespan of road surfaces.

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Manmayi Raval

Research Consultant

Companies Covered in this report: 3M Company, BASF SE, H.B. Fuller, Mapei S.p.A., The Dow Chemical Company, Sika AG, Pidilite Industries Limited, RPM International Inc, Henkel AG & Co. KGaA, Akzo Nobel N.V., Wacker Chemie AG, Covestro AG, Compagnie de Saint-Gobain S.A., Fosroc International Ltd., Jotun Group, Ashland Inc, Bostik Axalta Coating Systems Ltd., The Sherwin Williams Company. Considered in this report: • Geography: Asia Pacific • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report: • Asia Pacific Construction Chemicals market Outlook with its value and forecast along with its segments • Country-wise Construction Chemicals market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

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Country covered in the report: • China • Japan • India • Australia • South Korea By Product Type: • Concrete Admixture • Waterproofing Chemicals • Repair and Rehabilitation • Adhesives and Sealants • Industrial Flooring • Surface Treatment • Cement Grinding Aids • Protective Coatings • Grout and Anchor By End-User Industry: • Commercial • Residential • Industrial • Infrastructure The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Construction Chemicals industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.