The Global Construction Chemicals Market Size is valued at 58.91 billion in 2022 and is predicted to reach 99.74 billion by the year 2031 at a 6.22% CAGR during the forecast period for 2023-2031.
Construction chemicals are chemicals used with cement, concrete, or other building materials to hold them all together during construction. The project will be more environmentally friendly, and the construction materials will be of higher quality. Construction chemicals are chemical substances that are used in construction projects, and they are mostly used to speed up the process and give the buildings more durability and strength.
Construction chemicals are used in various building materials to improve workability and performance, provide functionality, and preserve a structure's essential or customized characteristics while it is being built. The demand for premix admixtures prior to use in construction is increasing, fueling growth in the building chemicals sector. Furthermore, the decreased infrastructure durability caused by increased rainstorms and wet winters has increased the need for high-quality building chemicals.
However, in 2020, the COVID-19 epidemic had a negative impact on the market. Following the onset of the COVID-19 pandemic, construction work ceased worldwide, particularly in major construction hubs such as China, India, the United States, and European nations. Due to the global growth in the construction sector, the market is expected to grow steadily over the forecast period.
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.
Competitive Landscape:
Some of the construction chemicals market players are:
- Arkema SA
- Ashland Inc.
- BASF SE
- Bostik; Inc.
- Cera-Chem Private Limited.
- Chembond Chemicals Ltd.
- Fosroc International Ltd.
- B. Fuller
- Henkel AG & Company
- Mapei Spa.
- Pidilite Industries Limited
- RPM International Inc.
- Sika AG
- The Dow Chemical Company
- R. Grace & Co.
Market Segmentation:
The construction chemicals market is segmented on the basis of type and application. Type segment includes concrete admixtures, waterproofing & roofing, repair, flooring, sealants & adhesives, and others. By application, the market is segmented into residential, industrial, infrastructure, and repair structures.
Based On Type, The Concrete Admixtures Segment Is Accounted As A Major Contributor To The Construction Chemicals Market
The concrete admixtures category is expected to hold a major share of the global construction chemicals market in 2022. Cement is the most commonly utilized binding substance in the construction sector. Cement is combined with crushed rocks (aggregate), sand, and water to make concrete. Concrete admixtures are substances added to concrete to improve its polish and strength. Admixtures are mostly used to reduce the water content of concrete and increase its durability. Lingo-based admixtures, Sulfonated Naphthalene Formaldehyde (SNF), and Sulfonated Melamine Formaldehyde (SMF) are the most often utilized admixtures (SMF). Lingo-based admixtures were among the first to be utilized in concrete.
The Infrastructure Segment Witnessed Growth At A Rapid Rate
The infrastructure segment is projected to grow at a rapid rate in the global construction chemicals market. Infrastructure is commonly utilized for joint and crack sealing. Furthermore, sealants are utilized in proofing to protect the structure from moisture, dust, and heat. Sealants are commonly employed in a variety of commercial and residential applications. Market growth has been fueled by the expansion of ultramodern offices and workspaces, as well as rising urbanization and improved lifestyles.
The Asia Pacific Construction Chemicals Market Holds A Significant Revenue Share In The Region
Asia Pacific's construction chemicals market is expected to register the highest market share in revenue in the near future. This can be attributed to the increasing expenditures in infrastructure development in addition to increasing consumer disposable income levels. Southeast Asian economies such as Indonesia, the Philippines, and Malaysia are experiencing significant economic growth, which is expected to benefit the building industry. These countries are seeing high demand for infrastructure projects, fueling the demand for construction chemicals in the Asia Pacific and propelling the regional market.
The expansion of the construction sector in Europe is driving construction chemicals. Western European countries, including the United Kingdom, Germany, the Netherlands, Germany, France, and others, are predicted to grow moderately during the forecast period. These countries' economic and political policies are also predicted to impact the growth of the building chemicals industry significantly.
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 |
|
Competitive Landscape |
Arkema SA, Ashland Inc., BASF SE, Fosroc International Ltd., Mapei Spa, Pidilite Industries Limited, Rpm International Inc., Sika Ag, The Dow Chemical Company, W. R. Grace & Co. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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