New York, USA, May 16, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global construction chemicals market is estimated to register a revenue of $48.9 billion by 2026 and grow at a stable CAGR of 5.6% over the forecast period from 2019-2026. The comprehensive report provides a concise outlook of the construction chemicals market’s present scenario including chief aspects of the market such as growth elements, challenges, hindrances, and several opportunities during the estimated period of 2019-2026. The report also provides all the market figures to help new participants analyze the market easily.
Dynamics of the Market:
Drivers: Growing urbanization and increasing constructing activities across the world is expected to drive the global construction chemicals market during the analysis timeframe. In addition, reduced durability of infrastructures due to heavy downpours and wetter winters has led to a rising demand for high-quality construction chemicals. This factor is expected to further boost the market growth by 2026.
Opportunities: Growing emphasis of governments on green building standards and eco-friendly chemicals is projected to offer ample growth opportunities for the global construction chemicals market by 2026. In addition, heavy investments by established market players on eco-binders and silicate binder system is another factor anticipated to propel the market growth during the forecast years.
Restraints: Increasing environmental regulatory policies regarding volatile organic compounds (VOC) emissions is the main factor expected to impede the construction chemicals market’s growth.
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Segments of the Market:
The report has fragmented the construction chemicals market into segments based on type, application, and region.
Type: Concrete Admixtures Sub-segment to be Most Lucrative
By type, the concrete admixtures sub-segment is estimated to have a significant growth rate and gather a revenue of $12.7 billion by 2026 due to the rising consumption of concrete admixtures across the world. In addition, the concrete admixtures greatly reduce the overall construction costs, water usage, time required to set, and offer excellent quality during transporting, placing, mixing, and other processes. These benefits are anticipated to further drive the sub-segment’s growth during the forecast years.
Application: Infrastructure Sub-segment to be Most Beneficial
By application, the infrastructure sub-segment of the construction chemicals market is projected to have a substantial growth rate and garner a revenue of $12.8 billion by 2026. Increasing population along with growing urbanization are the main factors expected to accelerate the sub-segment’s growth during the analysis period. In addition, growing rate of middle-class residential housing and rising infrastructure initiatives by the governments is another factor predicted to bolster the growth of the sub-segment during the forecast period.
Region: Market in the North America Region to Witness Better Growth Opportunities
By regional analysis, the construction chemicals market in the North America region is estimated to hold a dominating market share and gather a revenue of $14.2 billion over the forecast years. Booming economy in the US and Canada along with key market fundamentals for commercial construction projects are the main factors predicted to accelerate the market growth in the region by 2026. Moreover, rising federal and state investments for institutional infrastructure and public works is also anticipated to boost the demand for construction chemicals in the region. This factor is also projected to enhance sub-segment’s development in the North America region by 2026.
Significant Market Players:
Some significant players of the construction chemicals market include
- RPM International Inc.
- Sika A.G.
- Arkema SA
- Dow
- MAPEI S.p.A.
- Pidilite Industries Ltd.
- BASF SE
- Fosroc, Inc.
- W. R. GRACE & CO.
- Ashland.
These players are constantly working to build strategies such as product development, merger and acquisition, partnerships and collaborations to assist the market enhancement.
For example, in January 2022, Saint-Gobain, a French multinational corporation, announced its decision to acquire GCP Applied Technologies, a leading construction chemicals maker, with an aim to decarbonize the international construction sector and offer high-quality waterproofing and specialty construction products.
The report also sums up many crucial facets including financial performance of the prominent players of the market, SWOT analysis, product portfolio, and the newest strategic developments.
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