Product ID: SQSG15F2002
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 Insights
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).
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 Construction Chemicals Market Report Snapshots
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