Dublin, Oct. 04, 2024 (GLOBE NEWSWIRE) -- The "Construction Chemicals Market Report: Trends, Forecast and Competitive Analysis to 2030" report has been added to ResearchAndMarkets.com's offering.
The global construction chemicals market is expected to reach an estimated $89.2 billion by 2030 with a CAGR of 6.5% from 2024 to 2030. The major drivers for this market are the growth in residential and commercial construction and increasing demand for sustainable construction.
The construction chemicals market is influenced by various technological, economic, and regulatory factors. Understanding the major drivers and challenges is essential for navigating this complex landscape and leveraging opportunities for growth.
The factors responsible for driving the construction chemicals market include:
- Sustainability Initiatives: The increasing focus on sustainability is driving demand for eco-friendly construction chemicals. Regulations and consumer preferences are pushing companies to innovate with products that reduce environmental impact, such as low-VOC adhesives and bio-based materials.
- Technological Advancements: Innovations in material science and chemical engineering are leading to the development of advanced construction chemicals. These technologies improve the performance, durability, and efficiency of building materials, making them more attractive to the construction industry.
- Urbanization and Infrastructure Growth: The rapid urbanization and infrastructure development in emerging markets are significant drivers of the construction chemicals market. The demand for durable and sustainable building materials is increasing, creating opportunities for advanced construction chemicals.
- Energy Efficiency Requirements: The global focus on energy efficiency is boosting demand for construction chemicals that contribute to energy conservation. Products like insulating materials, reflective coatings, and energy-efficient concrete admixtures are becoming essential in modern construction.
- Aging Infrastructure: The need to repair and upgrade aging infrastructure, particularly in developed countries, is driving demand for construction chemicals that enhance the durability and longevity of structures. This demand is particularly strong for corrosion inhibitors and waterproofing agents.
Challenges in the construction chemicals market are:
- 1. Regulatory Compliance: The construction chemicals industry faces stringent environmental regulations that require companies to innovate and develop less harmful products. Compliance with these regulations can increase production costs and create challenges for market entry.
- 2. Raw Material Price Volatility: Fluctuations in the prices of raw materials used in construction chemicals can impact profitability. Companies must navigate these fluctuations while maintaining competitive pricing, which can be challenging in a volatile market.
- 3. Environmental Concerns: The production and use of certain construction chemicals can have significant environmental impacts. Addressing these concerns requires ongoing research and development to create safer, more sustainable alternatives.
- 4. Market Fragmentation: The construction chemicals market is highly fragmented, with numerous players offering a wide range of products. This fragmentation can make it difficult for companies to gain market share and achieve economies of scale.
Successfully navigating these drivers and challenges will be key to achieving long-term growth in this dynamic industry.
List of Construction Chemicals Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies construction chemicals companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base.
Some of the construction chemicals companies profiled in this report include:
- 3M
- MAPEI
- RPM
- Sika
- Dow
- MBCC
- Arkema
Construction Chemicals by Segment
The study includes a forecast for the global construction chemicals by type, end use industry, and region.
Type [Analysis by Value from 2018 to 2030]:
- Concrete Admixture
- Surface Treatment
- Repair and Rehabilitation
- Protective Coatings
- Industrial Flooring
- Waterproofing
- Adhesive and Sealants
- Grout and Anchor
- Cement Grinding Aids
Concrete admixture is expected to witness the highest growth over the forecast period due to its growing need in construction to make concrete stronger, more durable, and easier to work with.
End Use Industry [Analysis by Value from 2018 to 2030]:
- Commercial
- Industrial
- Infrastructure and Public Places
- Residential
Residential is expected to witness the highest growth due to increasing demand for new homes and renovations in developed and developing countries.
Region [Analysis by Value from 2018 to 2030]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
APAC is expected to witness the highest growth over the forecast period.
Country-wise Outlook for the Construction Chemicals Market
Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. Below image highlights recent developments by major Construction Chemicals producers in key regions: the USA, China, India, Japan, and Germany
- United States: In the U.S., recent developments in construction chemicals are focused on sustainability and innovation. The country is seeing increased investment in eco-friendly materials like low-VOC (volatile organic compounds) sealants and advanced polymer-based additives, driven by regulatory pressures and the growing demand for green buildings.
- China: China's construction chemicals market is experiencing rapid growth, spurred by large-scale infrastructure projects and urbanization. The government's focus on environmental sustainability is driving the adoption of low-emission and high-performance chemicals, including advanced waterproofing materials and concrete admixtures that enhance building durability.
- Germany: Germany is at the forefront of developing high-performance construction chemicals, particularly in the areas of energy efficiency and sustainability. Recent innovations include advanced thermal insulation materials and concrete additives that reduce energy consumption in buildings, aligned with the country's strict environmental regulations.
- India: India's construction chemicals market is expanding due to ongoing infrastructure development and real estate growth. The focus is on enhancing the longevity of structures in diverse climatic conditions, leading to innovations in corrosion-resistant chemicals, advanced waterproofing solutions, and concrete admixtures that improve structural integrity.
- Japan: In Japan, construction chemicals are being developed with a focus on earthquake resilience and sustainable urban development. Recent advancements include the creation of high-strength adhesives, sealants, and concrete modifiers that enhance the safety and durability of buildings in seismic zones, while also supporting eco-friendly construction practices.
Features of the Report
- Market Size Estimates: Construction chemicals market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
- Segmentation Analysis: Construction chemicals market size by type, end use industry, and region in terms of value ($B).
- Regional Analysis: Construction chemicals market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different types, end use industries, and regions for the construction chemicals market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the construction chemicals market.
- Analysis of competitive intensity of the industry based on Porter's Five Forces model.
For more information about this report visit https://www.researchandmarkets.com/r/5hv43a
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