S&P Global: The world's construction chemicals will continue to grow

Recently, S&P released the Construction Chemicals Report worldwide. The report predicts that the global consumption of special chemicals for construction will continue to grow at an annual growth rate of 3.1% from 2022 to 2027.

According to the report, there is no universally accepted definition of construction chemicals. The chemicals involved in the report are commonly used chemicals and polymers in the construction industry. The report divides construction chemicals into special chemicals and general chemicals. Special chemicals include concrete admixtures, asphalt lotion, adhesives, roof materials, floor materials, etc. General chemicals include cement slurry, mortar, cement additives and foamed polystyrene insulation board, etc.

According to the report, in recent years, the consumption of some chemicals used in the construction industry is growing rapidly due to the environmental boom, as is the case in developed regions such as North America, Western Europe and Japan. For example, more and more thermal insulation materials and sealants are used on the construction site. These materials can reduce the energy consumption of buildings to meet the revised building codes and green building guidelines. The demand for roof coatings is driven by the demand for environmental protection and energy conservation. Safety and environmental regulations and customized technical requirements also promote the growth of the demand for floor coatings.

According to the report, the current construction chemicals industry is very fragmented, with many suppliers, including many small and medium-sized companies operating regionally, while the number of transnational producers is limited. According to the report, the top ten manufacturers of construction chemicals together account for about 40% of the global market. These companies focus on the production of concrete admixtures, asphalt lotion, adhesives and sealants, special coatings, spray insulation foam and other special chemicals.

S&P Global added that at the end of last year, the construction chemicals industry announced two major mergers and acquisitions, which improved the market concentration of the construction chemicals industry. In November 2021, Sika Group, the largest manufacturer of construction chemicals, announced the acquisition of Maybes Group, a former BASF construction chemical company, but the acquisition has not yet been approved. Sika has announced that it is looking for buyers for part of the concrete admixture business of Myers Group. In addition, Saint Gobain acquired all outstanding shares of GCP Application Technology in December 2021, with a transaction value of about US $2.3 billion. The transaction was completed in September 2022.