Global Construction Chemicals Market

Construction Chemicals Market Size, Share, Growth Analysis, By Type(Sealants and Adhesives, Cement Grinding Aids, Concrete Admixtures, Water Proofing and Roofing), By End-Use Industry(Residential, Industrial/Commercial, Infrastructure, and Repair), By Process Outlook(French/Indirect Process, American/Direct Process, Wet Process, and Others), By Region - Industry Forecast 2024-2031


Report ID: SQMIG15F2190 | Region: Global | Published Date: June, 2024
Pages: 157 | Tables: 67 | Figures: 76

Construction Chemicals Market Regional Insights

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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Construction Chemicals Market size was valued at USD 27.74 Billion in 2022 poised to grow from USD 30.1 Billion in 2023 to USD 37.55 Billion by 2031, growing at a CAGR of 8.6% in the forecast period (2024-2031). 

The competition in the global construction chemicals market is fierce with several top players striving to gain more ground through innovation. Major multinational corporations such as BASF SE, Dow Chemical Company, Sika AG and Arkema are investing in research and development (R&D) to come up with breakthrough products. To improve product portfolios and broaden geographic reach, the market also sees strategic alliances, mergers, and acquisitions. These actions create a dynamic atmosphere that encourages development and sustainability in building methods. 'BASF SE (Germany) ', 'Ashland Inc. (USA) ', 'Pidilite Industries Ltd (India) ', 'Sika AG Switzerland) ', 'Fosroc Inc. (India) ', 'Apple Chemie India Pvt Ltd (India) ', 'Cross International Plc (UK) ', 'Dow (USA) ', 'RPM International Inc. (USA) ', 'Grace and Company (USA) ', 'Henkel AG (Germany) ', 'Evonik Industries AG (Germany) ', 'Tata Chemicals (India) ', 'Huntsman International LLC (USA)'

Emerging economies such as those found in Asia-Pacific, Africa, and Latin America are seeing a large quantity invested into the construction of housing units, businesses and factories due to the growth in urban areas globally. However, this immense demand for construction materials is being sourced from larger state-sponsored infrastructure programs involving energy plants or smart cities or even transportation systems. 

Embracing Sustainability in Response to Evolving Construction Demands: The building chemicals market is characterized by a few important tendencies which highlight the evolving needs of the construction industry in terms of materials and technology. One of the new trends in the building chemical sector is increasing application of environmentally conscious and sustainable alternatives. Environmentally credible construction chemicals are required by green building practices, which conserve energy consumption levels and comply with rigid environmental norms. 

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. 

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Global Construction Chemicals Market

Report ID: SQMIG15F2190

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