New York, April 24, 2023 (GLOBE NEWSWIRE) -- As per a recent report by Reports Insights, the construction chemicals market is ready for exponential expansion and is estimated to reach over USD 65.13 Billion by 2030. The market, which was valued at USD 40.25 Billion in 2022, is projected to grow at a compound annual growth rate of 6.20% during the period 2023-2030. The report provides an assessment of the competition among market players, regional patterns, market categorization, and the latest technologies. The objective of this analysis is to offer a thorough comprehension of the market dynamics and the factors that affect its expansion. The evaluation is based on a meticulous examination of the market's past and current trends, macro economic aspects, and industry dynamics that are likely to have an impact on the market's growth over the projected period.
Construction Chemicals Market Growth Drivers:
- Rising demand for durable and high-performance building materials drives the market growth of construction chemicals. Such high demand is due to growing awareness among builders and contractors about the benefits of using construction chemicals to improve the quality and longevity of construction projects.
- One of the major market drivers is the increasing number of construction projects around the world, especially in emerging economies. As urbanization and industrialization continue to witness growth, the demand for infrastructure development is also increasing rapidly, which boosts the demand for construction chemicals.
- The development of new technologies and materials also propels the growth of the construction chemicals market. The use of nanotechnology in construction chemicals is a key factor helping to improve their performance and durability.
Request Free Sample Report Here @ https://www.reportsinsights.com/sample/673861
Restraints
- In the construction industry, alternative materials such as green concrete, fly ash, and bio-based polymers are gaining popularity. These materials offer better sustainability, durability, and cost-effectiveness, which hamper the construction chemicals market growth.
- Governments around the world are enforcing strict environmental regulations that limit the use of harmful chemicals in the construction industry, thereby restricting the construction chemicals market.
Competitive Landscape
As per the study, the market of construction chemicals is highly competitive, with a range of manufacturers offering products and solutions across industries. BASF SE, GCP Applied Technologies Inc., Sika AG, The Dow Chemical Company, and DuPont de Nemours, Inc. are major manufacturers with an established grasp of the market. In addition to such major players, numerous smaller companies operate in local markets and cater to specific customer segments. These companies specialize in a particular type of construction chemical, such as waterproofing or concrete admixtures, and offer a competitive advantage in specific regions.
Recent Developments
In May 2022, Sika purchased United Gilsonite Laboratories (UGL), a reputable American company recognized for manufacturing waterproofing products for consumers and DIY enthusiasts. UGL's range of products is distributed through various channels and is available in major retailers throughout the United States. This acquisition is an ideal addition to Sika's existing line of high-end systems for waterproofing and renovation of concrete and masonry structures.
In December 2022, Dow introduced the latest product called V PLUS Perform Next, which is an upgraded version of its existing V PLUS Perform polyurethane technology for insulated metal panels. This latest product combines the impressive energy efficiency and fire safety characteristics of the previous version, with sustainable and circular ingredients that could be customized to meet the specific needs of customers.
The construction industry is growing worldwide due to increasing population and urbanization, leading to an increase in the demand for construction chemicals. For instance, according to the World Bank, more than half of the world's population currently resides in urban regions. It is predicted that by 2045, the urban population will grow by 1.5 times and reach around 6 billion. Hence, the increasing population will boost the numbers of building infrastructure, thereby propelling the demand for construction chemicals.
The construction industry is focusing on sustainable construction practices that use materials that are environmentally friendly, energy-efficient, and durable, leading to increased demand for construction chemicals that meet these requirements. However, the development of new polymers is expected to offer lucrative opportunities for the creation of new and innovative construction materials.
Request For Customization/Enquiry @ https://www.reportsinsights.com/enquiry/673861
Construction Chemicals Market Research Snapshot:-
| Report Attributes | Report Details |
| Market Size By 2030 | USD 65.13 Billion |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 6.2% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | BASF SE, GCP Applied Technologies Inc., MUHU (China) Construction Materials Co., Ltd., Sika AG, The Dow Chemical Company, Clariant International Ltd., Fosroc International Limited, Arkema, Aquaquim SA de CV, DuPont de Nemours, Inc., Holcim Ltd., and others |
| By Product Type |
|
| By End Use |
|
| Report Coverage | Company Ranking and Market Share, Regional Competitive Landscape, Growth Factors, Total Revenue Forecast, Business Strategies, and More. |
| By Geography |
|
Energy efficiency is a major concern for building owners and operators, which drives the demand for construction chemicals that offers improved insulation, reduce energy consumption and lower carbon emissions. For instance, according to the World Economic Forum, approximately 40% of the world's energy usage and 33% of its greenhouse gas emissions is attributed to buildings. Hence, the demand for construction chemicals is estimated to witness an increase over the forecast period with a growing focus on greenhouse gas emissions in buildings.
Moreover, the demand for green construction chemicals has been increasing. These chemicals are environmentally friendly and help reduce the carbon footprint of construction activities. As more companies and governments aim to reduce their environmental impact, the demand for green construction chemicals is expected to grow over the forecast period.
Key Market Takeaways
- Asia Pacific accounted for the highest market share over 36.60% in 2022 growing infrastructural developments in the region.
- The global construction chemicals market size is estimated to hit around USD 65.13 Billion by 2030 with an excellent CAGR of 6.20% during the forecast period (2023-2030).
- Based on product type, the concrete admixture segment accounted for the highest market share in 2022.
- Based on end use, the infrastructural segment accounted for the highest market share in 2022.
- North America is anticipated to register the fastest CAGR rate of over 11.8% during the forecast period due to rising business expansions by established market players in the region.
Find What You Need With Our Detailed Table Of Contents (TOC) & Summary Of Construction Chemicals Market Report @ https://www.reportsinsights.com/industry-forecast/global-construction-chemicals-market-statistical-analysis-673861
List of Major Construction Chemicals Market Players
- BASF SE
- GCP Applied Technologies Inc.
- MUHU (China) Construction Materials Co., Ltd.
- Sika AG
- The Dow Chemical Company
- Clariant International Ltd.
- Fosroc International Limited
- Arkema
- Aquaquim SA de CV
- DuPont de Nemours, Inc.
- Holcim Ltd
Global Construction Chemicals Market Segmentation:
- By Product Type
- Concrete Admixture
- Waterproofing chemicals
- Repair and Rehabilitation
- Protective Coatings
- Adhesives and Sealants
- Grout and Anchor
- Flooring Compounds
- Others
- By End Use
- Residential
- Commercial
- Hospitals
- Offices
- Others
- Industrial
- Infrastructural
Key Questions Covered in the Construction Chemicals Market Report
- What are the primary drivers behind the increased demand for construction chemicals among businesses?
- What information is covered in recent advancements and trends in the construction chemicals market, and how are they affecting the industry?
- How competitive is the construction chemicals industry, and what factors will influence its competitiveness in the future?
- What factors are taken into consideration in PORTER's and PESTEL's analysis that reflect the current state of the construction chemicals market?
- Who are the major market players in the latest construction chemicals market, and which company has the largest market share?
Discover More With Reports Insights Library Of Others Research Reports:-
Repair and Rehabilitation Type Construction Chemicals Market Size, Regional Trends, Growth, By Regions (North America, Europe, Asia Pacific, South America, Middle East And Africa), Segment Analysis, Key Technology Landscape, Market Dynamics, and Forecast (2023-2030)
Silicone Sealants Market Size, Share & Trends Analysis, By Type (Acetoxy Cure Sealants, High-Temperature Sealants, Low-Temperature Sealants, Neutral Cure Sealants, and Others), Application (Medical Appliances, Electrical Appliances, HVAC, Waterproofing, Roofing, and Plumbing), End-User Industry (Waterproofing, Residential, Commercial, Industrial, Automotive, Aviation, Semiconductor, Construction, Healthcare, and Others) By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa), Forecast Period 2023 - 2030
Construction Additives Market Size, Share & Trends Analysis, By Type (Chemical (Plasticizers, Air-entraining, Waterproofing, Retarding Agent), Mineral, and Fiber), Product Type (Liquid and Powder), End Use (Residential, Commercial, and Infrastructure), By Region, Forecast Period 2023 - 2030.
Waterproofing Systems Market Size, Regional Trends, Growth, By Regions (North America, Europe, Asia Pacific, South America, Middle East And Africa), Segment Analysis, Key Technology Landscape, Market Dynamics, and Forecast (2023-2030)
Concrete Admixtures Construction Chemical Market Size, Regional Trends, Growth, By Regions (North America, Europe, Asia Pacific, South America, Middle East And Africa), Segment Analysis, Key Technology Landscape, Market Dynamics, and Forecast (2023-2030)
About Reports Insights Consulting Pvt Ltd
ReportsInsights Consulting Pvt Ltd. is the leading research industry that offers contextual and data-centric research services to its customers across the globe. The firm assists its clients to strategize business policies and accomplish sustainable growth in their respective market domains. The industry provides consulting services, syndicated research reports, and customized research reports. Topnotch research organizations and institutions to comprehend the regional and global commercial status use the data produced by ReportsInsights Consulting Pvt Ltd. Our reports comprise in-depth analytical and statistical analysis on various industries in foremost countries around the globe.
