WASHINGTON, June 01, 2023 (GLOBE NEWSWIRE) -- Global Construction Chemicals Market is valued at USD 32.56 Billion in 2022 and is projected to reach a value of USD 69.31 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 8.11% over the forecast period 2023-2030.
One of the most significant economic areas is the Construction Chemicals business, and consistent expansion is projected going forward. Despite the industry's turmoil, numerous things could affect its development or demise. This study assesses both the current trends and the anticipated future changes to provide a full insight of the sector. Additionally, it provides details on the significant industry players and their expansion strategies.
The report provides a thorough analysis of international producers and suppliers, as well as their current situation and future prospects. It also goes into detail about the global drivers of the demand for Construction Chemicals, including rising investment requirements, developing technology, and new laws.
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Market Overview
According to Vantage Market Research, some of the key factors anticipated to accelerate the Construction Chemicals market growth over the forecast period. One of the main factors that favorably affect the demand for Construction Chemicals is the growing demand for high-quality and durable construction materials. As urbanization increases, the demand for strong and long-lasting buildings, bridges, roads, and other infrastructure also increases.
Construction chemicals play a crucial role in enhancing the performance and durability of concrete, mortar, and plaster, the primary building materials used in construction projects. Additionally, the increasing number of government initiatives and investments in infrastructure development projects drive the growth of construction chemicals in the market. Moreover, the growing focus on sustainable construction practices that promote energy efficiency reduced environmental impact, and cost savings are expected to boost the adoption of construction chemicals in the coming years.
The Asia Pacific construction chemicals market, is experiencing major growth due to the rapid expansion of infrastructure and construction activities in the region. The market is primarily driven by the increasing demand for high-performance construction materials, the rising popularity of green and sustainable construction practices, and the growing awareness about the advantages of using construction chemicals. In addition, several factors, such as rapid urbanization, increasing population, and rising disposable incomes, have led to an upsurge in the construction of residential complexes, commercial buildings, and public infrastructure. Therefore, construction chemical manufacturers focus on developing innovative products and expanding their supply chains in the region. Other factors influencing the market include government initiatives to promote infrastructure development and the growing trend of urbanization.
Market Dynamics
Urbanization and Infrastructure Development to Drive Market Growth:
Urbanization and infrastructure development in developing countries are projected to drive the demand for Construction Chemicals. Growing urbanization and infrastructure development projects require high-performance and durable construction materials that can withstand harsh weather conditions and remain stable for extended periods. This trend is likely to drive the market's growth in the future.
Essential Ingredients for Infrastructural Development:
Construction chemicals refer to chemical formulations that find application in various stages of construction, from pre-construction preparations to end-use finishes. Primarily, these chemicals improve the physical and chemical properties of concrete, cement, and other construction materials, resulting in enhanced durability, strength, and resistance to environmental factors. As a result, the construction chemicals market has been witnessing steady growth owing to the increasing demand for sustainable and long-lasting infrastructural solutions across the globe.
Top Players in the Global Construction Chemicals Market
- Evonik Industries
- H.B. Fuller
- Saint-Gobain S.A
- Ashland
- RPM International
- AkzoNobel Chemicals
- 3M Company
- Sika Group
- Dow Chemical
- BASF SE
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Top Trends in Global Construction Chemicals Market
- One trend that Vantage Market Research (VMR) expects to see in the Construction Chemicals industry is the growing demand for sustainable and eco-friendly construction chemicals due to increasing environmental concerns and regulations.
- Another trend that VMR predicts will continue in the Construction Chemicals industry is the rising adoption of smart technology and digitalization in the construction sector, leading to the development of advanced construction chemicals with improved durability and performance.
Top Report Findings
- Based on the Product, Concrete Admixtures are the largest product segment and are used to enhance the properties of concrete, such as strength, durability, and workability. Waterproofing chemicals are used to prevent water penetration into structures. Protective coatings protect structures against weathering, corrosion, and abrasion. Adhesives & sealants are used to bond or seal different substrates.
- Based on the Application, the Residential segment controls most of the Construction Chemicals market's revenue. The rising demand for sustainable, energy-efficient, and eco-friendly homes drives the demand for construction chemicals in the residential sector. Additionally, increasing urbanization, rising disposable incomes, and changing lifestyle preferences further contribute to this segment's growth.
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Top 10 Players Generates Most of the Revenue of Global Construction Chemicals Market
Key players in the Construction Chemicals market are constantly innovating and developing new products to enhance their competitiveness in the market. In addition, they are investing in R&D to create durable, high-performance, and sustainable products that can meet the evolving demands of end-users. This trend is expected to boost the market's growth in the future. The report also found that the most prominent players in the Construction Chemicals market include Evonik Industries, H.B. Fuller, Saint-Gobain S.A, Ashland, RPM International, AkzoNobel Chemicals, 3M Company, Sika Group, Dow Chemical, and BASF SE. As per latest report published by Vantage Market Research, the top 10 companies are responsible for generating most of the revenue of the global market.
Commercial Category in Construction Chemicals Market to Generate Major Revenue
The Commercial segment in the global construction chemicals market is a vital and rapidly growing segment that comprises various sub-sectors like offices, retail outlets, educational institutions, hospitals, and hotels. In addition, the construction of commercial buildings is highly dependent on the demand for space in different industrial and service sectors, including information technology, finance, healthcare, and tourism.
One of the major factors driving the commercial segment in the construction chemicals market is the surge in construction activities in emerging economies. Rising urbanization and increasing globalization have significantly increased commercial building construction activities, particularly in countries like India, China, and Indonesia. Moreover, the need for sustainable, energy-efficient buildings drives the demand for advanced construction chemicals in the commercial segment. This trend is particularly noticeable in buildings like hotels, hospitals, and educational institutions where energy consumption is critical.
Another factor driving the growth of the commercial segment is the growing trend of smart cities. Governments worldwide are investing heavily in developing smart cities that focus on utilizing advanced technologies and innovative materials to enhance the quality of life of their citizens. Commercial buildings are the cornerstone of smart cities, and using construction chemicals in these buildings helps ensure energy efficiency, durability, safety, and livability.
Browse market data Tables and Figures spread through 136 Pages and in-depth TOC on Construction Chemicals Market Forecast Report (2023-2030).
Global Construction Chemicals Market Segmentation
By Product
- Concrete Admixtures
- Cement Grinding Aids
- Industrial Flooring
- Water Proofing & Roofing
- Repair and Rehabilitation
- Grout and Anchor
- Sealants & Adhesives
- Surface Treatment
By Application
- Residential
- Industrial Manufacturing
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 32.56 Billion |
| Revenue Forecast by 2030 | USD 69.31 Billion |
| CAGR | 8.11% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Evonik Industries, H.B. Fuller, WR Grace＆Company, Saint-Gobain S.A, Ashland, Albemarle, Huntsman Corporation, RPM International, AkzoNobel Chemicals, 3M Company, Sika Group, Fosroc, KÖSTER, Tremco Group, Arkema, Royal Adhesives & Sealants, LORD Corp., MAPEI, Tata Chemicals, Thermax Global, Bostik SA, Illinois Tool Works Inc., RUDOLF GROUP, BASF SE, Muehringer, Dow Chemical, Wacker Chemie AG, Henkel AG & Company KGaA, Knopp GmbH, Normet, Avery Dennison, Eastman Chemical, Pidilite Industries |
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