Jersey City, NJ, April 19, 2023 (GLOBE NEWSWIRE) -- The global construction chemicals market is estimated to reach over USD 99.74 billion by 2031, exhibiting a CAGR of 6.22% during the forecast period.
Construction chemicals are chemical substances that are employed in the construction industry. These chemicals are added to construction materials such as concrete, cement, coatings, and others to provide high strength and durability, increase construction work, and provide further environmental protection. Construction chemicals have significant uses in improving the performance of concrete and reducing the use of water and cement during construction activities.
The increased awareness of the environmental concerns posed by traditional buildings, as well as changes in worldwide government legislation, are the primary drivers of construction chemical usage, particularly for building operations. Some major construction industry players are focusing on underground structure protection with sustainable and green materials, thermal insulation, civil infrastructure protection, polycarboxylate ether-based green admixtures, cool roof treatment, and others, all of which will play an important role in sustainability.
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Recent Developments:
• In June 2021, Saint-Gobain agreed to buy Chryso, a global construction chemical sector leader. Chryso's acquisition fits well into Saint-strategic Gobain's global leadership ambition in sustainable construction. Combined sales of more than €3 billion across 66 countries will strengthen the Group's position in the burgeoning building chemicals sector.
List of Prominent Players in the Construction Chemicals Market:
- Arkema SA
- Ashland Inc.
- BASF SE
- Bostik; Inc.
- Cera-Chem Private Limited.
- Chembond Chemicals Ltd.
- Fosroc International Ltd.
- H.B. Fuller
- Henkel AG & Company
- Mapei Spa.
- Pidilite Industries Limited
- RPM International Inc.
- Sika AG
- The Dow Chemical Company
- W. R. Grace & Co.
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Construction Chemicals Market Report Scope:
| Report Attribute | Specifications |
| Market size value in 2022 | USD 58.91 Bn |
| Revenue forecast in 2031 | USD 99.74 Bn |
| Growth rate CAGR | CAGR of 6.22 % from 2023 to 2031 |
| Quantitative units | Representation of revenue in US$ Billion, Volume (KT) and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
| Segments covered | Type, And Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
Market Dynamics:
Drivers:
The expanding construction industry in developing nations is predicted to promote the development of the construction chemicals market, which will be driven primarily by the growing new construction and repair and rehabilitation sectors. Because of rapid population expansion in China, India, and South Korea, increased demand for residential and non-residential constructions will fuel industry growth. This need has also boosted cement usage, resulting in a strong demand for various construction chemicals such as cement additives, concrete admixtures, and adhesives and sealants.
Challenges:
Construction chemicals are utilized during construction activities, which can result in VOCs, which are toxic and can cause skin irritation, asthma, nausea, disorientation, headaches, and eye irritation. Several residential building materials contain hazardous VOCs, such as acetone, formaldehyde, and butanol, which are emitted through acoustic ceiling tile, solid wood, caulking sealant, and floor wax. Governmental laws restricting the use of construction chemicals due to VOC emissions operate as a restraint on the expansion of the construction chemicals market.
Regional Trends:
The Asia Pacific, construction chemicals market, is expected to register a major market share in terms of revenue and is projected to develop at a high CAGR in the near future due to the rising building industry in India, China, South Korea, and Japan. China's rapidly increasing population has rendered the nation a major user of construction chemicals. Furthermore, rapid industrialization is boosting the market for construction chemicals.
The residential segment, which includes middle-class housing, elite housing, and low-cost housing, is predicted to drive the European construction chemical industry. The demand for penthouses, flats, bungalows, and villas with amenities and high-end architecture continuously increases.
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Segmentation of Construction Chemicals Market-
By Type-
- Concrete Admixtures
- Waterproofing & Roofing
- Repair
- Flooring
- Sealants & Adhesives
- Others
By Application-
- Residential
- Industrial
- Infrastructure
- Repair Structures
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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