The global Construction Chemicals Market is estimated to be
valued at US$ 49.9 Bn in 2022 and is expected to exhibit a CAGR of 6% over the
forecast period 2023 to 2032, as highlighted in a new report published by Coherent
Market Insights.
Market Overview:
Construction chemicals are used as concrete and mortar admixtuAres, protective
coatings, concrete adhesives and sealants, grouts and grouts, flooring and
floor treatments, waterproofing chemicals and repair, and rehabilitation
chemicals. These chemicals enhance the strength of concrete and other
structures. They help make concrete more durable and corrosion and wear
resistant.
Market key trends:
One of the key trends in the construction chemicals market is the growing
demand for green construction chemicals. With rising environmental concerns,
there is an increased focus on reducing the carbon footprint of the
construction industry. Several construction chemical manufacturers are
developing bio-based and recyclable products to meet the need for sustainable
infrastructure. For example, green cement which uses industrial waste as a
substitute for regular cement offers significant reduction in carbon emissions.
Segment Analysis
The global construction chemicals market is segmented by product type,
application, and geography. By product type, the market is divided into
concrete admixtures, waterproofing & protection, flooring, repair, and
sealing, asbestos & insulating, adhesive & sealants, and others. The concrete
admixtures segment dominated the market with around 25% share in 2021 owing to
the increasing use of concrete admixtures in ready-mix concrete and mortar
applications. Concrete admixtures improve the workability, plasticity, water
retention, and durability of concrete.
Key Takeaways
The global
construction chemicals market is expected to witness high growth,
exhibiting 6% CAGR over the forecast period of 2023 to 2032, due to increasing
infrastructural development activities. The market size was valued at $49.9
billion in 2022 and is projected to reach $99.8 billion by 2032.
Regional Analysis
Asia Pacific dominated the global market with around 40% share in 2021 driven
by strong infrastructure development in China and India. The region will
continue its dominance over the forecast period supported by rapid urbanization
and industrialization in developing countries such as India, Indonesia,
Vietnam, and Thailand.
North America is expected to grow at a CAGR of 5% during 2023-2032 on account
of increasing spending on renovation and repair activities of residential and
commercial buildings in the region.
Key Players
Key players operating in the construction chemicals market are Pidilite
Industries, BASF SE, RPM International Inc., Sika A.G., The Dow Chemical
Company, Fosroc International, Arkema S.A., Ashland Inc., Mapei S.p.A, and W.R.
Grace. BASF SE is the leading player with around 10% market share in 2021 on
account of its wide product portfolio and global presence.
Read More:
https://www.dailyprbulletin.com/construction-chemicals-market-connected-with-sustainability-market-outlook/
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