Pune, India, Oct. 04, 2023 (GLOBE NEWSWIRE) -- The global construction chemicals market is poised for significant growth due to shifting dynamics within the construction industry. According to a report by Fortune Business Insights™ titled "Construction Chemicals Market Size, Share, growth, and Forecast Report 2023-2026," the market size is expected to increase from $42.32 billion in 2018 to $70.91 billion by 2026, reflecting a compound annual growth rate (CAGR) of 6.7% during the period from 2023 to 2026.
Construction projects require the utilization of specialized chemical compounds known as construction chemicals. These chemicals are incorporated into various building materials, including cement, concrete, coatings, and more. Their role is to expedite construction processes, enhance structural robustness and longevity, and offer added safeguards against environmental hazards.
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List of Key Players in the Global Construction Chemicals Market -
- BuildCore Chemicals
- Croda International Plc
- ACC Limited
- Evonik
- BASF SE
- Fosroc, Inc.
- CHRYSO India
- SWC Brother Company Limited
- Sika AG
- 3M Company
Competitive Landscape -
Companies to Employ Strategic Partnerships to Maintain Market Position
In a bid to expand their market presence, industrial players are primarily focusing on forming strategic partnerships and making acquisitions. To gain a competitive advantage in both local and global markets, most manufacturers are also channelling investments into the innovation and creation of new and innovative products. Furthermore, these businesses offer a diverse range of construction chemicals suitable for applications in both new and existing infrastructure projects.
Report Scope & Segmentation-
| Report Coverage | Details |
| Forecast Period | 2023-2026 |
| Forecast CAGR | 6.7% |
| 2026 Value Projection | $70.91 Billion |
| Market Size in 2018 | $42.32 Billion |
| Historical Data | 2015-2017 |
| No. of Pages | 90 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
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| Global Construction Chemicals Market Growth Drivers | Asia Pacific to Dominate the Market Owing to the Rising Construction Activities |
| Rising Urbanization in the Construction Industry to Propel Market Growth |
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Segmentation -
In terms of chemical type, the concrete admixtures segment is set to take the lead in the market. The concrete admixture market encompasses various chemical categories, including concrete admixtures, flooring chemicals, waterproofing chemicals, repair & rehabilitation chemicals, and others. Cement plays a crucial role in construction as a binding agent. Concrete is produced by precisely blending cement with water, sand, and crushed rock in specified proportions. The addition of concrete admixtures enhances the properties of concrete, offering benefits such as a lower cement-to-water ratio, accelerated setting time, reduced segregation, and improved pumpability.
When it comes to application, the non-residential segment is poised for dominance in the construction chemicals market. This is primarily due to the robust growth in infrastructure development, including the construction of office buildings, bridges, highways, tunnels, and dams. The demand for these non-residential structures is driving the expansion of the market. Additionally, factors like population growth, improving economic conditions, and the pursuit of higher-quality infrastructure are contributing to the global growth of construction chemicals.
Geographically, the market is categorized into regions including Asia Pacific, Latin America, North America, Europe, the Middle East, and Africa.
Market Drivers-
Rapid urbanization and a growing global population are driving increased construction activities, leading to a higher demand for construction chemicals. Investments in infrastructure projects, including roads, bridges, airports, and public transportation systems, are fueling the demand for construction chemicals. Growing environmental awareness has led to the adoption of eco-friendly and sustainable construction practices, which often involve the use of specialized construction chemicals.
Ongoing research and development efforts result in the introduction of advanced construction chemicals that offer improved performance and cost-effectiveness. Stringent regulations related to construction quality and environmental standards have made the use of certain construction chemicals mandatory, boosting market demand.
Market Restraints-
The cost of high-quality construction chemicals can be a significant factor for construction projects, particularly in regions with budget constraints. The industry may face supply chain disruptions due to factors such as raw material shortages, transportation issues, and geopolitical events, which can impact the availability and cost of construction chemicals. Effective utilization of construction chemicals requires technical expertise, and there may be a shortage of skilled professionals in some regions.
The construction chemicals market is highly competitive, with numerous global and regional players vying for market share, which can lead to pricing pressures. Some construction chemicals may have adverse environmental impacts, leading to increased scrutiny and regulations, which can affect their use and availability. Economic downturns can lead to reduced construction activity, impacting the demand for construction chemicals.
It's important to note that the significance of these drivers and restraints may vary depending on the region and specific sub-segments of the construction chemicals market. Additionally, market conditions can change over time, so it's advisable to consult up-to-date sources for the latest information and insights.
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Regional Analysis-
The construction chemicals market can vary significantly by region due to differences in construction practices, building regulations, economic conditions, and environmental factors. Here's a brief regional analysis of the construction chemicals market:
In North America, the construction chemicals market is well-established and highly regulated. The United States and Canada have stringent building codes, which drive the demand for high-quality construction chemicals. Key product segments include concrete admixtures, waterproofing chemicals, and adhesives and sealants. Sustainability and environmental concerns have been driving the demand for green and eco-friendly construction chemicals.
Europe is a mature market for construction chemicals, with a strong emphasis on sustainable construction practices and green building certifications like LEED. Waterproofing, flooring, and repair materials are significant segments in this region. Stricter environmental regulations have led to the development of eco-friendly construction chemicals.
The Asia-Pacific region, including countries like China, India, and Southeast Asian nations, has been witnessing rapid urbanization and infrastructure development, driving a robust demand for construction chemicals. Rapid industrialization, growing populations, and the need for better infrastructure have boosted the market for construction chemicals in this region. Concrete admixtures, especially in China, are a major product category due to the extensive use of concrete in construction.
The Middle East and Africa, particularly the Gulf Cooperation Council (GCC) countries, has experienced a construction boom driven by oil wealth and large-scale infrastructure projects. Demand for construction chemicals in this region is primarily for applications like waterproofing, concrete repair, and protective coatings to combat harsh desert environments. Green building practices and sustainability are gaining traction in some parts of the Middle East.
Latin America has a growing construction chemicals market, driven by increased urbanization and infrastructure development. Brazil and Mexico are key markets for construction chemicals in the region. Product demand includes concrete admixtures, waterproofing materials, and sealants.
Rest of the World: Other regions, such as Australia and New Zealand, also have active construction chemicals markets, with a focus on sustainable building practices. Local regulations and climate conditions play a significant role in product preferences and demand.
Detailed Table of Contents-
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends in Global Market
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Construction Chemicals Market Analysis, Insights and Forecast – By Type
- Key Findings
- Market Analysis, Insights and Forecast – By Type
- Concrete Admixtures Chemicals
- Flooring Chemicals
- Water Proofing Chemicals
- Repair & Rehabilitation Chemicals
- Others
- Construction Chemicals Market Analysis, Insights and Forecast – By Application
- Key Findings
- Market Analysis, Insights and Forecast – By Application
- Residential
- Non-Residential
- Construction Chemicals Market Analysis, Insights, and Forecast – By Region
- Key Findings
- Market Analysis, Insights, and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TOC Continued…!
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