The Global Construction Chemicals market is surging rapidly. The prime reasons are urbanization and rising construction activities due to the same, at unprecedented levels. If we talk about the Indian market, it witnessed sales of USD 3884 Million in the year 2023. Since the growth has been projected to increase by a CAGR of 13.4% (USD 15,287.7). In the year 2024, the market reached sales of USD 4350.8 M. This growth in the construction chemicals market is particularly seen now in all BRICS countries, especially China and India.

Sustainability is yet another reason why construction chemicals have had an increased demand. The durability, strength, and aesthetics these chemicals offer is a prime factor. These chemicals also reduce the overall amount of water and cement used in the a fore mentioned processes. 

In the 4th edition of NextGen Chemical and Petrochemical Summit 2024, organized by Indian Chemical News, Rahul Tikoo, MD and CEO of Optime Specialties discussed why this growth is happening and also the outcomes it will bring. According to Rahul, the overhaul of construction chemicals has been largely driven to due recent growth in residential complexes. Another reason is the fast development of civic amenities such as airports, roads, bridges, et cetera. A need to build elementary awareness of construction and waterproofing chemicals was also discussed in the conference.

There unawareness among the workforce in regards of construction chemicals and modern tech, is the biggest issue faced by the industry. Workers often use ancestral knowledge with no updates. For example, good concreting is required before any waterproofing. Other examples of new technology not being highly incorporated yet are rapid hardening cast, precast concrete, and pre-pack mortar.

Although this scenario is changing with more educated builders coming up. Many contractors and builders make sure to adopt newer tech, as it gives them more time to deal with creative challenges. This is in particular because of the efficiency these chemicals provide.

Recent Updates in the Construction Chemical Industry

MNCs like BASF, SE, DOW, R&D, are some of the top players in this industry. Although there is fierce competition, with various independent enterprises coming up with breakthrough products, there is still collaboration and innovation. Recent innovative updates prove this, with a new series of eco-friendly admixtures by BASF. The raw materials used are obtained from living organisms. In April 2024, silica AG expanded market reach with creative solutions. Also, in Feb 2024, Sakshi Chem Sciences released a water repellent tech for concrete applications.

With many such collaborations, acquisitions, and innovations, the chemical industry seems to be doing extremely well. Its future remains hopeful and full of growth. The industry will witness even more groundbreaking expansion due to infrastructure growth and an increased need for sustainable alternatives. There may be some problems such as fluctuations in the price of raw materials and regulatory expenses, which could affect the development of the industry. But overall, there is an optimistic landscape and recent developments only strengthen a bright future of the construction
chemicals industry.