WASHINGTON, July 04, 2023 (GLOBE NEWSWIRE) -- The Global construction chemical Market is expected to grow at a significant rate in the coming years, driven by increasing infrastructural development across the world. The market is anticipated to reach a value of USD 83.2 Billion by 2030, with a CAGR of 10.3% between 2023 and 2030.
The report on the global construction chemical market provides a comprehensive analysis of the current trends and future projections of the market. It highlights the major industry players and their strategies for expansion. Additionally, the report provides a thorough analysis of international producers and suppliers, as well as their current situation and future prospects. The report also goes into detail about the global drivers of the demand for these products, including the need for infrastructure development, urbanization, and the increase in construction activities.
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Market Overview
According to Vantage Market Research, the construction industry has witnessed significant growth in recent years, with increasing investments in infrastructure development across developing and developed economies. The growth in the construction industry has resulted in the demand for construction chemical products, such as concrete admixtures, waterproofing chemicals, and adhesives and sealants. The overall construction chemical market is fragmented, with the presence of several players competing for market share. Based on the type of product, admixtures hold the largest market share due to their widespread use in the construction industry for improving the properties of concrete. Based on application, residential construction holds the largest market share, followed by commercial construction and infrastructure. Emerging economies, such as China and India, are expected to witness significant growth in the construction chemical market due to the increase in infrastructure projects and urbanization. The construction industry in these countries is expected to grow at a rapid rate, leading to a surge in demand for construction chemicals.
Market Dynamics
Rising Demand for Sustainable Construction Products to Drive the Market
The growing awareness of the impact of construction activities on the environment has led to the increased demand for sustainable construction products, including construction chemicals. There is a growing demand for construction chemicals that are eco-friendly and do not harm the environment. The demand for sustainable and green buildings is also expected to drive the growth of the construction chemical market globally.
Increasing Urbanization and Infrastructural Development to Promote Market Growth
The increasing population and urbanization have led to the need for infrastructural development, which has resulted in the rise in construction activities. The construction industry is expected to witness significant growth in the coming years due to the increase in urbanization. Additionally, the focus on infrastructure development and the need for smart cities is expected to drive the growth of the construction chemical market.
Top Players in the Construction Chemicals Market
- BASF SE
- Sika AG
- Arkema SA
- Fosroc International Limited
- RPM International Inc.
- Royal Adhesives & Sealants
- Dow Chemical
- Pidilite Industries
- Avery Dennison
- Akzo Nobel NV
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Top Trends in the Global Construction Chemical Market
- One of the key trends in the construction chemical market is the development of sustainable and eco-friendly products. Manufacturers are focusing on developing products that are safe for use and less harmful to the environment.
- Increasing demand for high-performance products: With the increasing need for high-quality construction, there has been a growing demand for high-performance construction chemical products that provide superior performance.
- Incorporation of technology: The use of technological advancements, such as nanotechnology and smart materials, in construction chemical products has been on the rise. This has led to the development of more efficient and effective construction chemical solutions.
- Growing interest in waterproofing solutions: Waterproofing chemicals are increasingly seen as essential in construction applications. Waterproofing solutions help protect concrete structures from environmental elements that can cause deterioration, such as water damage or corrosion.
Top Report Findings
- Based on product, admixtures held the largest market share in 2021, owing to their widespread use in construction activities.
- Based on application, residential construction held the largest market share in 2021, followed by commercial construction and infrastructure.
- Based on geography, Asia Pacific held the largest market share in 2021 and is expected to continue its dominance over the forecast period due to the growth in developing economies, such as China and India.
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Companies focusing on these specialty chemicals may operate in niche segments of the market
The report also found that the largest players in the construction chemical market are BASF SE, Sika AG, Arkema SA, Fosroc International Limited, and others. These companies are expected to benefit from growing investments in new products and increased demand.
Disinfectants Category in Cleaning Chemicals in Healthcare Market Holds the Largest Share
The cleaning chemicals in healthcare market encompasses various segments that cater to the specific needs of healthcare facilities. Among these segments, the disinfectants category stands out as the largest revenue generator. Vantage Market Research has conducted an in-depth analysis of the market, shedding light on its current state and identifying the factors that contribute to its growth. By focusing on different applications within the healthcare sector, a comprehensive understanding of the market dynamics emerges.
Disinfectants play a vital role in infection prevention and control within healthcare settings. They are designed to eliminate harmful pathogens and ensure a clean and safe environment for patients, healthcare professionals, and visitors. The high demand for disinfectants can be attributed to their criticality in maintaining hygiene standards and reducing the risk of healthcare-associated infections.
In terms of market segmentation, the cleaning chemicals in healthcare market can be categorized based on their applications in various healthcare facilities such as hospitals, clinics, ambulatory surgical centers, long-term care facilities, and more. Among these, hospitals emerge as the primary consumers of disinfectants, driving the category's dominance in the market.
Hospitals, as bustling centers of patient care, are particularly susceptible to the transmission of infections. Therefore, stringent infection control measures are implemented, making disinfection protocols an integral part of daily operations. The use of effective disinfectants ensures the thorough decontamination of surfaces, medical equipment, and instruments, minimizing the risk of cross-contamination and healthcare-associated infections.
Looking ahead, the disinfectants category in the cleaning chemicals in healthcare market is projected to experience a robust growth rate. This growth can be attributed to the increasing emphasis on infection prevention practices and the rising awareness regarding the importance of maintaining a hygienic healthcare environment. Healthcare facilities are proactively investing in high-quality disinfectants to fortify their infection control strategies and safeguard the well-being of patients and healthcare professionals.
Furthermore, advancements in disinfectant formulations and application techniques contribute to the growth of the disinfectant’s category. Manufacturers are continually improving their products to enhance efficacy, compatibility with different surfaces, and environmental sustainability. The development of disinfectants that are effective against a wide range of pathogens and offer prolonged protection further propels the market's expansion.
The Concrete Admixture Segment Anticipated to Deliver Substantial Revenue During the Forecast Period
According to the latest research conducted by Vantage Market Research, the construction chemicals market is expected to see a surge in demand over the next few years, with one segment holding the largest share in the market. The segment that is anticipated to generate the largest revenue in the construction chemicals market is the concrete admixture segment. Concrete admixtures are a vital component used in construction projects to enhance the properties of concrete. These additives are used to improve the strength, durability, workability, and other important characteristics of concrete. The growing need for advanced infrastructure and better building materials has led to the increasing demand for concrete admixtures in the construction industry.
The concrete admixture segment is anticipated to dominate the construction chemicals market due to its numerous benefits, such as enabling faster construction, reducing water usage, improving concrete quality, and reducing energy consumption. Additionally, the growing trend of sustainable construction practices is further fueling the demand for environmentally friendly concrete admixtures.
Asia-Pacific is the largest and fastest-growing region in the concrete admixture segment, with countries like China, India, and Japan leading the market. The rapid industrialization, urbanization, and infrastructural developments in these countries are the primary factors driving the demand for concrete admixtures in the region.
Browse market data Tables and Figures spread through 136 Pages and in-depth TOC on Construction Chemical Market Forecast Report (2023-2030).
Global Construction Chemical Market Segmentation
- By Product Type
- Admixtures
- Sealants & Adhesives
- Protective Coatings
- Waterproofing Chemicals
- Others
- By Application
- Residential Construction
- Commercial Construction
- Infrastructure
- Others
- By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 41.9 Billion |
| Revenue Forecast by 2030 | USD 83.2 Billion |
| CAGR | 10.3% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | BASF SE, Sika AG, Arkema SA, Fosroc International Limited, RPM International Inc., Royal Adhesives & Sealants, Dow Chemical, Pidilite Industries, Avery Dennison, Akzo Nobel NV |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/construction-chemicals-market-0922/customization-request |
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