What is the global market size of Construction Chemicals Market?

Construction Chemicals Market size was valued at USD 27.74 billion in 2021 and is poised to grow from USD 30.1 billion in 2022 to USD 37.55 billion by 2030, growing at a CAGR of 8.6% in the forecast period (2023-2030).

Who are the key vendors in the Global Construction Chemicals Market?

The Global Construction Chemicals market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses to increase market share and profitability. 'Ashland Inc', 'Dow', 'BASF SE', 'Sika AG', 'Huntsman Corporation', 'Arkema Group', 'Akzo Nobel N.V.', 'Evonik Industries AG', 'Mapei S.p.A.', 'W.R. Grace & Co.', 'RPM International Inc.', 'Fosroc International Limited', 'Pidilite Industries Ltd.', 'CHRYSO SAS', 'Kao Corporation', 'Henkel AG & Co. KGaA', 'GCP Applied Technologies Inc.', 'Bostik SA', 'Saint-Gobain Weber', 'FUCHS Group', 'MAPEI Corporation.'.

What is the key driver of Global Construction Chemicals Market?

Construction chemicals enhance the overall building durability and also offer protection against environmental hazards. Apart from giving the buildings strength, these chemicals help in reducing the volume of cement and water consumed during the construction process, which is another key factor surging demand for these chemicals.

What is the key market trend for Global Construction Chemicals Market?

Ready-to-Mix Concrete (RMC) is preferred over traditional concrete due to its ease of use, convenience, and superior quality. Furthermore, wastage lessening, fewer inventory costs, and efficient utilization will lead to a decrease in the overall project costs, which will augment the market over the projected period.

Which region accounted for the largest share in Global Construction Chemicals Market?

In 2021, due to the perceived growing construction industries in India, China, South Korea, and Japan, the Asia-Pacific region dominated the market. China's rapidly increasing population has made the country a major consumer of construction chemicals. Furthermore, rapid industrialization is also boosting the market. Various government initiatives to promote infrastructure activities, combined with a growing residential sector, will significantly aid the construction chemicals market growth in the region during the forecast period. The residential segment, which includes middle-class housing, upper echelon housing, and low-cost housing, is expected to drive the European construction chemical market. The demand for penthouses, apartments, bungalows, and villas with amenities and high-end designs is rapidly increasing.

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 News

In June 2024, BASF SE came up with a whole new series of eco-friendly concrete admixtures to improve durability and decrease carbon emissions during construction. Utilizing raw materials obtained from living organisms, this modern-day range meets the market’s need for building solutions that do not harm the environment and greatly supports initiatives geared towards world sustainability.
In April 2024, Sika AG declared that it will be bolstering its product line in the construction chemicals market by acquiring a top supplier of waterproofing solutions. By taking this calculated risk, Sika hopes to strengthen its position as the world's leading provider of construction chemicals by expanding its market reach and providing creative solutions for infrastructure projects.
In February 2024, Dow Chemical Company introduced a revolutionary water-repellent technology for concrete applications. The innovative product addresses the increasing demand for building materials with long life periods through higher levels of moisture-proofing, soundness and firmness. By doing this, it shows the company’s commitment to green practices as it also tries to solve some of the problems faced by the sector like maintenance and efficiency.

Construction Chemicals Market Report Snapshots

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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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What is the global market size of Construction Chemicals Market?

Who are the key vendors in the Construction Chemicals Market?

What is the key driver of Construction Chemicals Market?

What is the key market trend for Construction Chemicals Market?

Which region accounted for the largest share in Construction Chemicals Market?

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