Construction chemicals are chemical compounds that are specifically made to change the properties of various building materials. They are blended with cement, concrete, mortar, and other materials to preserve the construction and enhance their current characteristics. Among the commonly used construction chemicals are adhesives, sealants, waterproofing agents, protective coatings, asphalt modifiers, and concrete admixtures. Waxes, solvents, and both natural and synthetic resins are used in their creation. They are available in versions based on organic compounds, water, oil, or resin. They enhance heat reflectance, moisture retention, sound insulation, tensile, flexural, and bond strength in addition to resistance to mold, salts, and chlorides. This has led to their widespread use in the construction of infrastructure, commercial, and residential buildings.
United States Construction Chemicals Market Driving Factors and Challenges
Drivers: The market is expected to be dominated by the waterproofing solutions segment. Waterproofing chemicals are used to delay the deterioration of buildings and other concrete-made infrastructure, thereby preventing leaks and seepages. These materials adhere to a wide range of surfaces with remarkable ease, preventing blistering and adhesion failures while allowing trapped water (vapor) to escape. They don't emit any smoke or hazardous or combustible vapors when exposed to fire.
Furthermore, declining housing costs and accelerating urbanization in several developing countries are driving up demand for construction chemicals in the residential application segment of the construction industry. Furthermore, it is anticipated that the construction chemicals industry will grow due to increased government initiatives supporting infrastructure and Public-Private Partnerships (PPP) over the forecast period.
Challenges: The US construction chemicals market faces a number of obstacles that it must get past in order to continue growing and changing. One of the main challenges is the increasing regulatory scrutiny and environmental concerns regarding the use of certain chemicals in construction. Research and development costs rise as a result of manufacturers being under pressure to develop and implement environmentally friendly alternatives due to the industry's growing emphasis on sustainability. Additionally highly cyclical and vulnerable to shifts in the economy is the building sector. Economic downturns may cause construction activity to decline, which will have an impact on the market for construction chemicals. The price fluctuations of raw materials also affect the market, affecting the profit margins and production costs of industry participants.
Impact of COVID-19 on United States Construction Chemicals Market
The building industry is one of the areas where the COVID-19 pandemic has caused significant harm. Many projects were halted in 2020 as a result of budgetary restrictions, a labor shortage, and lockdown regulations. An interstate travel ban resulted in a mass exodus of migrant laborers, also known as informal sector workers, who destabilized the supply chain. Consequently, there was a drop in the availability and demand of building supplies. The COVID-19 pandemic is negatively affecting the market for construction chemicals as a result of all these factors.
United States Construction Chemicals Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players are; 3M, Arkema Group, Ashland, Chryso SAS, Dow, DuPont, Franklin International, Inc., GCP Applied Technologies, Holcim, Krete Industries Inc., MAPEI SpA, MBCC Group, Pidilite Industries Ltd, RPM International Inc., Sika AG, Others.
United States Construction Chemicals Market Segmentation:
By Product Type: Based on the Product Type, United States Construction Chemicals Market is segmented as; Concrete Admixture and Cement Grinding Aids, Surface Treatment, Repair and Rehabilitations, Protective Coatings, Industrial Flooring, Waterproofing Solutions, Adhesive and Sealants, Grouts and Anchors.
By End User: Based on the End User, United States Construction Chemicals Market is segmented as; Commercial, Industrial, Infrastructure, Residential, Others.
By Region: This research also includes data for Eastern Region, Western Region, Southern Region, Northern Region.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.