Report ID: SQMIG15F2190
Report ID:
SQMIG15F2190 |
Region:
Global |
Published Date: June, 2024
Pages:
157
|
Tables:
67 |
Figures:
76
Asia Pacific is the largest market for construction chemicals in the world due to rapid industrialization, infrastructural development and urbanization of developing countries such as China, India and Southeast Asia. In addition to increased government investment in large construction projects, this region’s market is also driven by population growth and an increasing need for both residential as well as commercial space. Additionally, there is a growing trend for utilizing novel construction chemicals due to more stringent environmental regulations and greater emphasis on sustainable building practices. Asia Pacific is regarded as a key player in the global construction chemicals market due to its vast production base and low-cost production which in turn enhances its comparative advantages.
As a result of a spike in infrastructure modernization, renovations to both residential and commercial buildings, and strict environmental rules, North America is quickly becoming the region with the fastest growth in the global construction chemicals market. The demand for advanced construction chemicals is rising because of growing investments in sustainable construction methods in the U.S. and Canada. Given the region's focus on energy-efficient building options and the use of advanced materials and technology, market expansion is being driven. North America’s market is growing rapidly due to government initiatives that aim at enhancing infrastructure resilience to climate change and a heightened focus on green building standards.
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Report ID: SQMIG15F2190