Westford,USA, June 20, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Global Construction Chemicals Market will attain a value of USD 37.55 Billion by 2031, with a CAGR of 8.6% over the forecast period (2024-2031). Over the past few years, the worldwide construction industry has been steadily growing, and this trend is anticipated to continue during the projection period. Numerous causes, such as population expansion, urbanisation, an increase in demand for infrastructure, and technical improvements, can be contributed to the growth in building activities. Growth in the population has led to a greater need for housing and other types of buildings, which has been a major factor in the construction industry.
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Browse in-depth TOC on the " Construction Chemicals Market "
- Pages - 157
- Tables - 67
- Figures – 76
Construction Chemicals Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $30.1 Billion |
| Estimated Value by 2031 | $37.55 Billion |
| Growth Rate | Poised to grow at a CAGR of 8.6% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End User |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Advantages of ready-mix concrete results in cost efficiency |
| Key Market Opportunities | High investments and eco-friendly chemicals |
| Key Market Drivers | Construction chemicals enhancing durability and efficiency |
Ability to Enhance Concrete Performance of Concrete Admixture is Growing at a Rapid Pace
As they can increase the performance of concrete by making it more durable, workable, and strong, concrete admixtures are the market leader in the world for construction chemicals. Therefore, lower cost in buildings coupled with increased productivity is one of the benefits provided by these materials. Hence the demand for high performance and environmentally friendly construction substances has boosted the concrete admixtures market up.
Urbanization and Increasing Housing Demand Helps Real Estate to Dominatethe Market
Urbanisation and rising housing demand are the primary drivers of the real estate sector's dominance in the global market for construction chemicals. Utilizing advanced materials for effectiveness and longevity has become vital due to the increase in construction work brought about by this surge, hence the greater need for high-performance building chemicals that enable various players in this industry to enlarge their enterprises while strengthening the outstanding status of property market.
Rapid Industrialization Allowing Asia Pacific to Dominate Construction Chemicals Market
Asia-Pacific led the market due to the perception of rising building industries in South Korea, Japan, China, and India. China is a big consumer of construction chemicals due to its fast-growing population, and the country's rapid industrialization is also driving up market demand. A growing residential sector and several government efforts to support infrastructure development will greatly contribute to the growth of the construction chemicals market in the region over the forecast period.
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Construction Chemicals Market Insight
Drivers:
- High Requirement for Construction Chemicals
- Rapid Urbanization Globally
- Changing Dynamics of the Construction Industry
Restraints:
- Regulatory Policies Associated with Emissions
- Fluctuations in Prices and Rates
- Skill Gap in Construction Sector
Prominent Players in Construction Chemicals Market
The following are the Top Construction Chemicals Companies
- GCP Applied Technologies Inc. (US)
- Arkem S.A. (France)
- Construction Materials Co., Ltd., (China)
- Sika India Pvt. Ltd., (Switzerland)
- CHRYSO GROUP (France)
- Dow (US)
- Fosroc Inc., (UK)
- MUHU (China)
- Holcim (Switzerland)
- Pidilite Industries Ltd., (India)
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Key Questions Answered in Global Construction Chemicals Market Report
- What is the estimated market size for construction chemicals worldwide by 2031, and what is the anticipated compound annual growth rate (CAGR) for the 2024–2031 projection period?
- What are the main forces underlying the real estate industry's hegemony in the world market for construction chemicals?
- Due to expanding building industries and rapid modernization, which region is likely to lead the construction chemicals market, and which nations are important contributors to this trend?
This report provides the following insights:
- Analysis of key drivers (Enhance the overall building durability, offer protection against environmental hazards, reduced volume of cement & water consumed and high-grade construction materials), restraints (Lack of dedicated training center, right usage of construction chemicals and growing stringent governmental regulations), opportunities (Green building standards, usage of eco-friendly chemicalsand heavy investments by established market players), and challenges (Surging environmental regulatory policies regarding VOC and cost in energy & raw materials) influencing the growth of construction chemicals market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the construction chemicals market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the construction chemicals market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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