Future Prospects of Global Laboratory Proficiency Testing Market

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Laboratory Proficiency Testing Market  The global Laboratory Proficiency Testing Market is estimated to be valued at US$ 1.29 billion in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Laboratory proficiency testing involves evaluating the performance of laboratories for a given scope of testing through inter-laboratory comparisons. It helps assess the quality and competence of laboratories by determining reproducibility and accuracy of test results. Proficiency testing products are used by laboratories to determine method validity and accuracy, and improve testing processes. Market Key Trends: One of the major trends in the laboratory proficiency testing market is the growing number of accredited medical laboratories. Accreditation assures compliance with ISO 15189 and ISO/IEC 17025 standards, which require participation in proficiency testing programs. Acc...
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Construction Chemicals Market Share Contributing Large

Construction Chemicals Market
Construction Chemicals Market 


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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