” The construction chemicals market is expected to grow significantly, primarily driven by the upsurge in building, construction, and infrastructure projects.”
The construction chemicals market is further accelerated by the rapid urbanization observed in many developing regions and is expected to boom the market landscape over the forecast period.
The SNS Insider report indicates that the Construction Chemicals Market was worth USD 41.94 billion in 2022 and is expected to grow to USD 72.06 billion by 2030, with a CAGR of 7.0% in the forecast period. The construction chemicals market is experiencing substantial growth driven by the increasing demand for high-performance materials to enhance the durability, strength, and sustainability of construction projects worldwide. Construction chemicals, also known as specialty chemicals or building materials additives, encompass a wide range of products including concrete admixtures, waterproofing compounds, adhesives, sealants, and protective coatings. These chemicals play a crucial role in improving the workability, performance, and longevity of concrete, mortar, and other construction materials, thereby ensuring structural integrity, durability, and resilience against environmental factors such as moisture, corrosion, and chemical exposure. With rapid urbanization, infrastructure development, and construction activities in emerging economies, the demand for construction chemicals is expected to continue rising, driving investments in research, development, and innovation by industry players.
Market Overview:
Construction chemicals are specialty chemical compounds used in construction activities, enhancing the performance of materials like cement, concrete, and coatings. These chemicals provide high strength, durability, and protection from environmental hazards. The growing awareness of environmental concerns and changes in global government policies are driving the adoption of construction chemicals, especially for sustainable building activities. Major players in the construction industry focus on green and sustainable materials, contributing to overall building protection and environmental sustainability.
Get a Report Sample of Construction Chemicals Market @ https://www.snsinsider.com/sample-request/1457
Some of the Key Players Included are:
The Key Players are BASF SE, Pidilite Industries Ltd, Apple Chemie India Pvt Ltd, Cross International Plc, Dow, R. Grace and Company, Evonik Industries AG, Huntsman International LLC, Ashland Inc., RPM International Inc., Henkel AG, Tata Chemicals, Sika AG, Fosroc Inc. & Other Players.
Market Analysis:
The expansion of new construction and repair sectors in developing economies, driven by population growth in economies like China and India, is a significant driver for construction chemicals. The demand for various construction chemicals, including adhesives, concrete admixtures, and cement additives, has risen alongside the increased consumption of cement. Enhanced product offerings and technological advantages in construction chemicals improve structure performance, durability, and corrosion resistance. The growing construction industry in developing economies and the demand for public, commercial, and residential structures are key factors propelling the construction chemicals market.
Segment Analysis:
Based on type, the concrete admixtures segment is expected to dominate the market during the forecast period, driven by its extensive use in construction, particularly in China, India, the United Kingdom, and Germany. In terms of application, the infrastructure segment led the construction chemical market in 2022 due to the growing demand for commercial buildings, bridges, roads, dams, and tunnels.
By Type
l Concrete admixtures
l Waterproofing & roofing
l Repair
l Flooring
l Sealants & adhesives
l Others
By Application
l Residential
l Industrial
l Infrastructure
l Repair structures
Regional Development:
Asia-Pacific accounted for the majority of revenue share in 2022, driven by rapid growth in building and government support for infrastructure. The region's expanding middle class, increased demand for luxury homes, and significant construction projects contribute to its dominance. In Europe, the construction chemical market is primarily driven by the residential segment, including middle-class, elite, and low-cost housing.
Key Takeaway for Construction Chemicals Market Study:
· Rapid urbanization and infrastructure development are driving the construction chemicals market globally.
· Concrete admixtures and infrastructure applications dominate the market.
· Asia-Pacific holds a significant share due to rapid growth and government incentives.
· The residential segment plays a crucial role in the European market's growth.
Recent Developments:
· In Sept 2023, Huntsman Corporation launched its Technology Portal, facilitating external collaborations and unlocking potential business opportunities.
· In April 2023, Indigo Paints acquired a 51% stake in Apple Chemie India to strengthen its position in the construction chemicals market.
· In July 2021, Saint-Gobain acquired Chryso, expanding its presence in the construction chemicals market with combined sales of more than €3 billion across 66 countries.
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
Comments