Global Construction Chemicals Market

Global Construction Chemicals Market Size, Share, Growth Analysis, By Material(Concrete Admixture, Construction Adhesive), By End User(Infrastructure, Real Estate) - Industry Forecast 2024-2031

Report ID: SQSG15F2002 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 67 | Figures: 76

Global Construction Chemicals Market Dynamics

Construction Chemicals Market Driver

  • 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.
  • Rising residential complexes and buildings are in high growth at global for perennial urbanization. Construction firms are initiating a larger number of residential projects with high-grade construction materials to give improved structural integrity and sustainability which will be a factor in the growth of the construction chemical market.

Construction Chemicals Market Restraint

  • The skill gap is a major issue hampering the growth of the construction sector. This serious lacuna can be addressed only through training. There is a consensus now in the industry that manufacturers should assign a dedicated training center to train workers on the right usage of construction chemicals.
  • Construction chemicals contain hazardous VOCs such as formaldehyde, acetone, and butanol, which are emitted through an acoustic ceiling tile, solid wood, caulking sealant, and floor wax. VOCs can cause skin irritation, asthma, nausea, confusion, headaches, and eye irritation. Growing stringent governmental regulations regarding the use of construction chemicals are hampering the growth of the market.
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FAQs

Construction Chemicals Market size was valued at USD 27.74 billion in 2019 and is 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 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.'

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.

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.

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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