Construction Chemicals Market Size to Reach USD 89.7 Billion by 2032 | CAGR: 6.9% | DataHorizzon Research

Fort Collins, Colorado, Sept. 14, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Construction Chemical Market Size, Share, Growth, Trends, Statistics Report, By Type (Concrete Admixtures, Asphalt Modifiers, Adhesives and Sealants, Protective Coatings), By End-user (Residential Projects, Industrial Projects, Commercial Projects, And Infrastructure Projects) By Region, And Segment Forecasts, 2023- 2032."

According to DataHorizzon Research, The construction chemical market size was valued at USD 46.1 Billion in 2022 and is expected to reach USD 89.7 Billion by 2032 at a CAGR of 6.9%. The publication offers the latest trends, drivers, segments, and regional analysis with a bird-eye view.

Construction chemicals are chemical formulations for the construction industry and play a crucial role in improving the quality and longevity of structures and resolving construction challenges. The construction chemicals market growth is projected to be higher in the forthcoming years owing to the rapid pace of construction projects, emphasis on sustainable construction, technological advancements, and stringent regulations and compliance. In addition, post-pandemic phases have witnessed the emergence of new trends in the construction industry. Specialty chemicals, particularly, witnessed an upsurge in the construction industry since 2021.

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Report Snapshot:

Segmentation Overview

The global construction chemicals market has been segmented by type, end-user, and region. Concrete admixtures significantly contribute to the construction industry, accounting for a leading share in 2022. Regarding end-user infrastructure projects accounted for a leading share in 2022 and remain in a leading position.

Asia Pacific is the leading region for construction chemicals based on a high volume of construction projects and setting up SMART cities. Using reusable construction chemicals has been a common approach contractors undertake to optimize cost factors. Asphalt, wood, and rubber exhibit reusability and are widely used for constructing sidewalks and footpaths. Conversely, due to environmental consciousness, Europe will likely exhibit strong growth in the forthcoming years.

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Construction Chemicals Market Report Highlights:

• The global construction chemicals market size is projected to be valued at a CAGR of 6.9% by 2032.

• Rapid urbanization, increase in construction activities, and infrastructure renewal and maintenance are some of the growth factors in the construction chemicals market.

• Infrastructure projects enjoyed a prominent position due to the consumer segment's response. Demand for quality construction and high spending are some of the growth highlights.

• Asia Pacific accounted for a significant market share in the past years and will retain a dominant position in the following years.

• Some prominent players in the construction chemicals market report include Huntsman Corporation, Sika AG, Lanxess AG, Ashaland Inc., Westlake Chemical, Arkema SA, LyondellBasell Industries, Evonik, 3M Company, Akzo Nobel NV, and BASF SE. 

Key Developments and Trends in the Industry:

• The global sustainability drive has moved the construction industry towards resource reusability. For instance, the rise in the trend of using environmentally friendly concrete admixtures, waterproofing solutions, and low VOCs will continue to dominate the construction industry.

• In 2023, Indigo Paints is gearing up to expand its construction chemicals and waterproofing solutions portfolio. In addition, it has a limited presence in smaller towns; however, with this expansion, it is scaling its presence in Tier 1 and Tier 2 cities.

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Construction Chemical Market Report Segmentation:

Construction Chemical Market, By Type (2023-2032)

• Concrete Admixtures
• Asphalt Modifiers
• Adhesives and Sealants
• Protective Coatings

Construction Chemical Market, By End-user (2023-2032)

• Residential projects
• Industrial projects
• Commercial projects
• Infrastructure projects

Construction Chemical Market, By Region (2023-2032)

• North America

• • U.S.
  • Canada

• Europe

• • U.K.
  • Germany
  • France
  • Rest of Europe

• Asia Pacific

• • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific

• Latin America

• • Brazil
  • Mexico
  • Rest of Latin America

• Middle East & Africa

• • UAE
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa 

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