Construction Chemicals Market Size to grow by USD 29.51 billion between 2024-2028
According to a research report “ Construction Chemicals Market” by Type (Concrete admixtures, Adhesives and sealants, Protective coatings, Asphalt additives, Others) End-user (Non-residential, Residential) Geography (APAC, North America, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 29.51 billion, at a CAGR of 9.41% during the forecast period. The construction chemicals market is experiencing significant growth due to increasing urbanization and substantial infrastructure investments. These chemicals offer valuable advantages, such as enhanced productivity and performance, superior protection against environmental conditions, and increased durability. The demand for infrastructure development, both residential and commercial, is on the rise, leading to increased demand for construction chemicals. Industrial coatings are particularly in demand due to the surge in construction activities. Notably, construction companies with government contracts experienced fewer project suspensions during lockdowns in various regions, creating ample business opportunities. Moreover, governments worldwide have prioritized enhancing healthcare infrastructure and building new healthcare facilities to accommodate the growing patient population, generating substantial business prospects for the construction industry and, consequently, the construction chemicals market.
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By Type, the Concrete admixtures segment is projected to dominate the market size in 2024
The construction chemicals market encompasses a significant non-residential segment, which includes commercial structures such as retail outlets, hotels, restaurants, offices, industrial facilities, schools, and hospitals. This segment is poised for expansion as both established and emerging economies allocate substantial investments in this sector throughout the forecast period. Notably, the Middle East region is witnessing robust growth in the construction chemicals market, particularly in countries like the UAE, Qatar, and Saudi Arabia. This growth is attributed to the substantial investments being made in commercial infrastructure projects, as evidenced by the Abu Dhabi National Oil Company's recent USD245 million contracts for upgrading main oil lines and facilities in the UAE. The global construction chemicals market is anticipated to experience substantial growth during the forecast period.
By End-user, Non-residential segment is expected to hold the largest market size for the year 2024
In the construction industry, concrete admixtures play a crucial role in enhancing the efficiency and quality of concrete production. These specialized chemicals are added to the concrete mix during production to modify its properties and optimize the construction process. By improving workability, reducing water requirements, and increasing the strength and durability of the hardened concrete, concrete admixtures help decrease construction costs and enhance overall project outcomes. Common types of concrete admixtures include superplasticizers, retarders, air-entraining agents, accelerators, and corrosion inhibitors, each providing unique benefits to the concrete mix. These admixtures facilitate better mixing of materials, enabling easy flow and reducing application time, while also preventing segregation and ensuring a smoother, evenly finished surface. By utilizing these advanced concrete solutions, construction companies can optimize their operations, minimize waste, and deliver high-quality projects more efficiently.
APAC is forecasted to hold the largest market size by region in 2024
The APAC region represents a significant and influential market segment in the global construction chemicals industry, contributing substantially to its growth and transformation. With a diverse economic landscape and varying degrees of industrialization and infrastructure development, APAC has emerged as a key driver of demand for construction chemicals. Key factors fueling the expansion of the APAC construction chemicals market include the unprecedented urbanization and industrialization trends in countries such as China, India, and Southeast Asian nations. These countries are undergoing rapid infrastructure development, necessitating advanced construction solutions. Construction chemicals, including admixtures, adhesives and sealants, and coatings, play a crucial role in enhancing the durability, strength, and sustainability of structures in this region.
The Construction Chemicals Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Construction Chemicals Market is experiencing significant expansion as a result of the global infrastructure expansion and the increasing urban population's demand for residential structures and commercial sectors. Wholesalers and raw material suppliers play a crucial role in supplying the necessary chemicals for various construction projects, including dams, tunnels, bridges, roads, and buildings. The market's growth is driven by government funding sources and spending on infrastructure developments. Mergers and acquisitions among key players are common as they seek to expand their market share and increase profitability. The construction activity in the real estate sector is also contributing to the market's growth. Infrastructure developments, such as dams, tunnels, and bridges, require specialized construction chemicals to ensure their durability and longevity. The use of these chemicals in roads and buildings also enhances their structural integrity and improves their overall quality. The construction chemicals market is expected to continue its growth trajectory as the demand for infrastructure development and urbanization increases. The market's profitability is also influenced by the commercial sector's spending on construction projects and the availability of advanced technologies to produce high-performance construction chemicals.
Market Research Overview
The construction chemicals market is currently in a robust position, driven by the infrastructure sector's expansion in urban regions due to urbanization and population growth. Benchmarking estimates indicate a significant increase in demand for construction chemicals, particularly in repair and rehabilitation, waterproofing & roofing, and industrial flooring applications. Cement grinding aids, sealants & adhesives, fire protection chemicals, corrosion inhibitors, and waterproofing agents are among the top product categories in focus. Supply chain disruptions and material costs are key challenges in the market, which are being addressed through the expansion, mergers, and acquisitions of key players. The price-sensitive nature of the market necessitates a regulatory environment that balances affordability with environmental factors and performance and durability. The residential application segment, including mid-rise and high-rise buildings, is a significant contributor to the market's growth. Construction 4.0 and sustainable buildings are gaining popularity, with green points and energy conservation being key considerations. Infrastructure developments in key cities, including airports, highways, dams, tunnels, bridges, and roads, are driving demand for construction chemicals. The construction sector's productivity is being impacted by labor shortages, housing sales setbacks, and new unit and office space construction. The market's future growth is expected to be influenced by government policies, investments, and the availability of funding sources. The commercial sector, including retail outlets, new offices, and commercial projects, is also a significant contributor to the market's volume growth. Investing in construction chemicals offers potential profitability for private entities and the government, as they seek to meet the demand for infrastructure developments and green building initiatives. The rebound of the construction sector, subject to restrictions and labor availability, is expected to continue the market's growth trajectory.
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