Construction Chemicals Market, May Set Story by 2022-2030
Market Overview
Construction Chemicals Market Size was valued at USD 30.1 Billion in 2022 and is projected to grow from USD 32.1 Billion in 2023 to USD 37.55 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.60% during the forecast period (2023 - 2030) Market Highlights
Growth of the global demand for building chemicals is powered mainly by growing investment in infrastructure development and residential construction activities worldwide. These chemicals are rapidly being used to enhance concrete performance, along with growing industry knowledge of the consistency of concrete , cement, asphalt, and other building materials. Growing urbanisation and rapid population development worldwide push the development of residential projects and houses, and construction activity in both new construction and renovation and refurbishment is projected to increase over the forecast period. This, in fact, is expected to raise demand for building chemicals over the projected period.
Development is also driven by expanded spending in the Sector of Infrastructure. In addition , the government is spending heavily in infrastructure construction across the developed world to accelerate economic growth. The growing adoption of ready-mix concrete is expected to further propel the demand for construction chemicals, especially in the commercial and infrastructure sectors.
The absence of customer knowledge of chemical and building aids and lower profit margins are the factors that are projected to hinder the development of the global chemical construction industry.
Get sample Report-https://www.marketresearchfuture.com/sample_request/1960
Market Segmentation
The global construction chemicals market, by product type, has been segmented into concrete admixtures, waterproof chemicals, flooring compounds, adhesives and sealants, and others.
By end-use, the global demand for building chemicals was segmented into domestic , commercial, manufacturing, and utilities. Owing to the growing population and urbanisation, infrastructure will be the first choice for potential applicants, which would fuel the need for sustainable infrastructure and environmentally friendly goods. The residential sector is the second most lucrative category for new entrants in the demand for construction chemicals. In 2018, this sector was the biggest sales producer, representing almost half of the global industry. Leading to the rising in demand for houses and residences in urban areas, construction chemicals are commonly used in residential infrastructure..
Regional Overview
Asia-Pacific is projected to be the region's biggest and most profitable building chemicals market. Growing developments in urban construction, accelerated industrialization and the rising amount of new residential building ventures are due to the fast growth of the regional sector. China is projected to be Asia-Pacific's largest market while India, led by ASEAN countries, is projected to be the fastest-growing markets over the forecast period. To satisfy the rising demand for building chemicals in the country, the leading players are investing in rising their production capacity in the country.
Another prominent market for construction chemicals is expected to be in North America. Growth in the region is supported by the rebuilding of the US construction industry. As rapidly increasing urbanisation needs the development of residential towers, North America has enormous capacity for construction products, and buildings are in high demand in response to perennial urbanisation worldwide. In order to offer increased structural stability and durability, building companies undertake relatively greater numbers of residential developments using high-grade construction materials.
During the review period the European market is expected to see steady expansion. Due to economic growth and increased spending in infrastructure production, Latin America and the Near East & Africa are projected to have substantial demand for construction chemicals during the forecast period.
BuyNow-https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=1960
Competitive Dashboard
Some of the eminent players operating in the global construction chemicals market are LATICRETE International, Inc (US), BASF SE (Germany), Pidilite Industries Ltd (India), Tata Chemicals (India), Sika AG (Switzerland), Fosroc, Inc. (India), Henkel AG (Germany), Apple Chemie India Pvt. Ltd (India), Croda International Plc (UK), W. R. Grace & Company (US), RPM International, Inc (US), Evonik Industries AG (Germany), Huntsman International LLC (US), Dow (US), and Chemax Chemical (India).
About Market Research Future -
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Edibles.MRFR team has the supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end-users, and market players for global, regional, and country-level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. In order to stay updated with the technology and work process of the industry, MRFR often plans to conduct meet with the industry experts and industrial visits for its research analyst members.
Contact:
Market Research Future®
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
Phone: +1 628 258 0071(US) +44 2035 002 764(UK)
Email: sales@marketresearchfuture.com