The construction chemicals market is expected to increase significantly, propelled by a number of important factors. The market is anticipated to expand at a CAGR of 6.7%, reaching a value of US$ 104.92 billion by 2032, supported by the expansion of global infrastructure and consumer demand for innovation. The populace has been persuaded to invest more in better homes and a higher standard of living by an increase in per capita disposable income. The market for construction chemicals is expanding due to the rising demand for public, commercial, and residential structures as well as the growing urban population. The market’s optimistic prognosis is further aided by the expanding need for infrastructure facilities such as buildings, roads, bridges, tunnels, and dams.
The global construction chemicals market has witnessed steady growth over the years, owing to the increasing demand for high-performance construction materials and the growing emphasis on sustainable building practices. Construction chemicals encompass a wide range of products, including admixtures, adhesives, sealants, coatings, and waterproofing agents, among others. They are employed in various construction segments such as residential, commercial, industrial, and infrastructure projects.
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For cool roof treatments, thermal insulation, general building protection, polycarboxylate ether-based green admixtures, and underground structural protection, major companies in the construction chemical industry are concentrating on ecologically friendly and sustainable products.
Applications of construction chemicals are essential for maintenance tasks. The importance of maintaining, repairing, and enhancing existing structures, particularly for residential and infrastructural developments, is what drives demand for construction chemicals.
Numerous government initiatives to promote infrastructure development, together with the rising residential sector, have significantly supported the market expansion in the area over the predicted period.
Key Takeaways
- The construction chemicals market is likely to have a CAGR of 6.7% during the forecast period.
- According to the application, the resident segment holds the largest share during the forecast period for the construction chemicals market.
- North America holds a significant share in the global construction chemicals market.
- Based on type, concrete admixture accounted for the 36% construction chemicals market share in 2021.
- During the forecast period, Asia Pacific is expected to dominate the construction chemicals market.
- The value of the construction chemicals market is expected to be US$ 104.92 billion by 2032.
Competitive Landscape:
To meet changing consumer demand, manufacturers of construction chemicals prioritize increasing production capacity. Construction chemical market trends are predicted to be influenced by portfolio expansion and divestment plans over the anticipated time period.
To boost their market share in the construction chemicals industry, the leading companies in this space mostly employ acquisition and growth strategies.
The DOW Chemical Co., RPM International Inc, Ashland Inc., MAPEI, Akzo Nobel NV, Arkema SA, Fosroc, Pidilite Industries, Covestro AG, Henkel AG & Co. KGaA, HB Fuller Company, Lanxess AG, The 3M Company, Wacker Chemie AG, Huntsman Corporation, Momentive Performance Materials, Guangzhou Jointas Chemical Co. Ltd are some major key players in the construction chemicals market.
Recent Developments
- In July 2021, Saint-Gobain and Chryso, a major player in the worldwide construction chemicals market, entered into a purchase agreement. The purchase of Chryso matches Saint-strategic Gobain’s ambition of being the global leader in sustainable construction. With combined sales of more than €3 billion across 66 countries, it further increased the Group’s footprint in the developing construction chemicals sector.
- With the debut of a distinct green product line in the category, JSW Cement, India’s top green cement business, entered the construction chemical market in June 2021. JSW Cement now has new chances to connect innovation in concrete mix products with ethical construction thanks to the Construction Chemical category. The business of the corporation grew as a result of this development.
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Construction Chemicals Market Key segments
By Product Type:
- Waterproofing Chemicals
- Protective Coating
- Concrete Admixture
- Adhesives & Sealants
- Asphalt Additives
By Application:
- Residential
- Commercial & Industrial
- Infrastructure
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
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