Construction chemicals are specialized substances used in building and infrastructure projects to enhance performance, durability, and efficiency. They find applications in various areas, such as concrete admixture for improving workability and strength, waterproofing agents to prevent water ingress, adhesives, and sealants for bonding and joint sealing, and protective coatings to resist corrosion and weathering. These chemicals offer crucial features such as chemical resistance, fire protection, and thermal insulation, enabling their versatile use in construction processes and ensuring the longevity and quality of the structures.
According to Data Bridge Market Research, the Global Construction Chemicals Market accounted for USD 36.73 billion by 2021 and is expected to reach USD 68.49 billion by 2029. The market is expected to grow with a CAGR of 8.10% in the forecast period of 2022 to 2029.
“Rapid urbanization boosts the market’s growth”
Rapid urbanization fuels the growth of the construction chemicals market due to increased infrastructure and building projects. As cities expand, the demand for high-quality construction chemicals rises, including additives, adhesives, sealants, and coatings. These products are essential for ensuring durability, efficiency, and safety in construction processes. As urban areas continue to develop, the construction chemicals market experiences a significant upswing, catering to the needs of modern construction practices and contributing to the overall advancement of the construction industry.
What restraints the growth of the global construction chemicals market?
“Fluctuations in prices and rates restraint the market’s growth
Fluctuations in prices and rates restrain the growth of the construction chemicals market. Volatility in raw material costs can lead to increased production expenses, affecting product affordability and profitability for manufacturers and suppliers. Moreover, fluctuating interest rates may deter potential investors and developers from undertaking large-scale construction projects, subsequently reducing the demand for construction chemicals. These uncertainties create challenges for the industry, making it essential for stakeholders to implement effective pricing strategies and risk management measures to navigate through the market's complexities and sustain growth.
Segmentation: Global Construction Chemicals Market
The global construction chemicals market is segmented on the basis of product and end user.
- On the basis of product into concrete admixture, surface treatment, repair and rehabilitation, protective coatings, industrial flooring, waterproofing, adhesives, sealants, grout, and anchor and cement grinding aids.
- On the basis of end user, the construction chemicals market is segmented into commercial, industrial, infrastructure, residential, and public space.
Regional Insights: Asia-Pacific dominates the Global Construction Chemicals Market
Asia-Pacific dominates the construction chemicals market due to the substantial expansion of construction activities, along with government incentives aimed at promoting the infrastructure sector. Furthermore, the thriving residential sector, driven by the growing middle-class population, has also contributed to the market's positive trajectory.
North America on the other hand, is estimated to show lucrative growth during the forecast period of 2022 to 2029 because of the robust market fundamentals supporting commercial real estate projects. Additionally, the region's expanding population and the presence of numerous upcoming building projects are expected to further drive the demand for construction chemicals, fueling the market's expansion.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-construction-chemicals-market
Recent Developments
- In June 2021, RPM International Inc.'s Carboline subsidiary has revealed its acquisition of Dudick Inc., a company located in Streetsboro, Ohio, known for producing high-performance coatings, flooring systems, and tank linings. Dudick's annual net sales amount to approximately USD 10 million. However, specific details regarding the financial terms of the transaction were not disclosed to the public.
The Prominent Key Players Operating in the Global Construction Chemicals Market Include:
- BASF SE (Germany)
- M&I Materials Limited (U.K.)
- Dupont (U.S.)
- SOLVAY (Belgium)
- W. R. Grace & Co.-Conn. (U.S.)
- Setral Chemie GmbH (Germany)
- GCP Applied Technologies Inc. (U.S.)
- RPM International (U.S.)
- Sika India Pvt. Ltd., (Switzerland)
- Fosroc Inc., (U.K.)
- Dow (U.S.)
- Arkem S.A. (France)
- Ashland Inc (U.S.), Mapei S.p.A (Italy)
- MUHU (China) Construction Materials Co., Ltd., (China)
- Holcim (Switzerland)
- CHRYSO GROUP (France)
- GCP Applied Technologies Inc. (U.S.)
- Pidilite Industries Ltd., (India).
Above are the key players covered in the report, to know about more and exhaustive list of global construction chemicals market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Construction Chemicals Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
