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Homebuilding to Push Paints, Sealers

Wednesday, February 4, 2015

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A “fully healed” U.S. housing market will boost demand for coatings, spray polyurethane foams and other construction chemicals past $12 billion in 2018, according to a new market study.

The report foresees annual growth of 8.2 percent, driven by double-digit increases in construction spending aided by healthy economic growth and an improved consumer outlook.

construction
Pixabay / CC0 Public Domain

The healed U.S. housing market will lead to a jump in new residential construction activity, said Freedonia analyst Nick Cunningham.

Those are the conclusions outlined in Construction Chemicals, recently issued by The Freedonia Group Inc. The report analyzes construction chemicals used in onsite applications, such as spray polyurethane foam; protective coatings and sealers; polymer flooring; and others.

The study also profiles 31 industry competitors.

Recovered Market

“Following several years of recovery, a fully healed U.S. housing market will lead to a jump in new residential construction activity,” said Freedonia analyst Nick Cunningham.

Consumers' preference for more windows, larger kitchens and decks will boost consumption of coatings and sealers, grouts and mortars, and caulks and adhesives, the firm notes.

The pace of non-residential building construction is also expected to pick up rapidly through 2018.

suspension bridge
Pixabay / CC0 Public Domain

Greater economic activity will also require increased investment in infrastructure, both public and private, particularly for the country’s aging transportation network, according to Freedonia.

Caulks and adhesives will see some of the fastest growth, as will sprayed polyurethane foams, which will benefit from tightening building codes that require increased energy efficiency.

Infrastructure Investment

Greater economic activity will also require increased investment in infrastructure, both public and private, particularly for the country’s aging transportation network, according to the Cleveland-based market research firm.

Rapid growth in non-residential building construction will fuel healthy growth for cement and asphalt additives as well as coatings, the report said.

U.S. Construction Chemicals Market
© The Freedonia Group Inc.

The U.S. construction chemicals market will grow 8.2 percent per year over the next few years, according to Freedonia.

“Growing demand for chemical additives and coatings will also result from the increasing use of new concrete technologies that offer superior performance and ease of placement, such as high-performance concrete and self-consolidating concrete,” the firm explains.

Shifting Product Mix

Freedonia also indicates that the product mix of construction chemicals is shifting.

"Higher-value formulations" are gaining share in many product segments due to both environmental and performance concerns, Freedonia notes.

Regulations reducing volatile organic compound (VOC) emissions along with consumer preferences for low-odor and easy-to-clean water-based formulations are contributing to the shift.

“The transition toward better-performing, longer-lasting products will boost the value of the construction chemicals market going forward, though the decreased replacement frequency and volume of chemicals required will serve as a check on further growth,” Freedonia predicts.

   

Tagged categories: Building science; Business conditions; Coating chemistry; Construction chemicals; Industry surveys; Market

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