USD 27.74 billion
Report ID: SQSG15F2002 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 67 | Figures: 76
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).
In the upcoming years, expanding infrastructure projects and increased demand, particularly from the Asia Pacific region, will fuel market expansion.
Due to an increase in infrastructure-related activities including building and construction, the global market is anticipated to experience significant growth.
Additionally, the rise of the market during the projection period will be aided by the quick urbanisation of many developing regions. Major corporations have concentrated on R&D initiatives to create new bio-based products because numerous restrictions have a significant impact on the business. The development of the market is anticipated to be hampered by the fluctuating pricing and supply of raw materials. The demand for the product will be driven throughout the projected period by an increase in the number of residential and non-residential buildings and construction activities around the world.
It is projected that expanding new construction and maintenance & rehabilitation sectors will promote the growth of the construction products business in emerging nations. There is a sizable demand for non-residential and residential constructions despite rapid population increase in South Korea, China, and India, which fuels industry growth. Due to this necessity, the demand for various building chemicals, such as cement additives, admixtures, sealants, and adhesives, has increased. Due to the development of superior product offerings intended to improve performance during the forecast period, the global market is anticipated to grow. They include specialty cement additives like silicone caulks, mortars, and other things.
Construction-related activities involve the use of hazardous volatile organic compounds (VOCs), which can lead to asthma attacks, migraines, eye discomfort, and disorientation. Acoustic ceiling tiles, caulking sealant, and flooring wax are all sources of dangerous VOCs that are produced by a number of construction chemicals used in residential sectors, such as methanol, formaldehyde, and butanol. Government regulations that limit the use of building chemicals due to VOC emissions have somewhat limited industry growth. The growing understanding of the environmental risks posed by conventional structures is what has sparked the development of construction chemicals, particularly for building operations. Government measures against climate change have also been introduced globally.
US Construction Chemicals Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 27.74 billion
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The global construction chemicals market is segmented based on the material, end-user, and region. Based on the material, the global market is segmented as concrete admixture, construction adhesive, construction sealant, protective coatings, and others. Based on the end user, the global market is segmented as infrastructure, real estateInfrastructure, Real Estate, Industrial, Residential, Public Space. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Construction Chemicals Market Analysis by Material
Based on Material, Concrete admixtures dominate the construction chemicals in 2021. This can be mainly attributed to the high usage of admixtures, as these helps reduce the overall construction cost by changing the characteristics of the hardened concrete, compared to other types of construction materials. For example, by adding admixtures to concrete, the water requirement can be reduced by 5–10%. Further, admixtures improve the concrete quality and help in smoothening the construction process.
Construction Chemicals Market Analysis by End User
Based on end user, the global construction chemicals market is segmented into infrastructure and real estate. Real estate is the largest segment in the global market. Real estate would be the first preference for new entrants due to the surging population and urbanization, driving the need for sustainable infrastructure and environmentally friendly products. Various development plans and upcoming events in the developing countries are further boosting the construction of residential and commercial buildings, which in turn is aiding the growth of the market.
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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.
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Construction Chemicals Market Driver
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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.
Construction Chemicals Market Top Player's Company Profiles
Construction Chemicals Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Construction Chemicals Market Analysis, in 2021, the Asia-Pacific region dominated the market. China's rapidly increasing population has made the country a major consumer of these chemicals. Furthermore, rapid industrialization is boosting the market. Real estate is the largest segment in the global construction chemicals market. Real estate would be the first preference for new entrants due to surging population and urbanization driving the need for sustainable infrastructure and environmentally friendly products. Various government initiatives to promote infrastructure activities, combined with a growing residential sector, will significantly aid the growth during the forecast period.
|Market size value in 2021||USD 27.74 billion|
|Market size value in 2030||USD 30.1 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Construction Chemicals Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Construction Chemicals Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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