Construction Chemicals Market Size Worth $88.1 Billion by 2031 | CAGR: 6.0%: AMR
The global construction chemicals market is expanding rapidly due to factors such as surge in need for improved and latest infrastructure, such as bridges, buildings, highways, and airports and rise in demand for infrastructure development.
Wilmington, Delaware, Nov. 06, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Construction Chemicals Market by Type (Concrete Admixtures, Water Proofing and Roofing, Repair and Rehabilitation, Industrial Flooring, Sealants and Adhesives, Cement Grinding Aids, and Others), By End-use Industry (Residential, Industrial/Commercial, Infrastructure, and Repair): Global Opportunity Analysis and Industry Forecast, 2023-2032.” As per the report, the market is estimated to generate $88.1 billion by 2032, having experienced the value of $49.9 billion in 2022, with a noteworthy CAGR of 6.0% during the forecast period of 2023 to 2032.
Factors influencing the growth of the global construction chemicals market:
The global construction chemicals market is expanding rapidly due to factors such as surge in need for improved and latest infrastructure, such as bridges, buildings, highways, and airports and rise in demand for infrastructure development. However, lack of consumer awareness and changes in regulatory environment hamper the development due to the price sensitiveness of the industry. Nevertheless, a rise in demand from developing nations is projected to provide ample growth opportunities for the market in the future.
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Report Coverage & Details:
|Market Size in 2022||$49.9 billion|
|Market Size in 2032||$88.1 billion|
|No. of Pages in Report||250|
|Segments covered||Type, End-use Industry, and Region.|
|Drivers||Rise in global construction industry|
|Growth in conformity with latest manufacturing standards|
|Surging need for new and improved infrastructure, such as highways, bridges, airports, and buildings|
|Opportunities||Increase in demand from emerging economies|
|Restraints||Government regulations over VOC emissions in the construction industry|
The concrete admixtures segment to retain its dominance by 2032
By type, the concrete admixtures segment held the major share of more than two-fifths of the global construction chemicals segment market in 2022 and is expected to rule the roost from 2023 to 2032. The same segment would register the fastest growth with 6.3% CAGR throughout the forecast timeframe. The demand for advanced concrete admixtures with enhanced properties has risen in the construction sector due to their development. These novel additives provide advantages such as increased strength, expedited setting times, enhanced workability, and decreased water needs.
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The industrial/commercial segment to continue its lead position during the forecast period
On the basis of end-use industry, the industrial/ commercial segment garnered the major share in 2022, accounting for nearly two-fifths of the total market share and is estimated to maintain its leadership status throughout the forecast timeframe. Use of innovative products and materials in construction activities and rapid developments in emerging countries have driven the growth of the segment. On the other hand, the infrastructure segment would cite the fastest growth with 6.4% CAGR from 2023 to 2032.
Asia-Pacific to rule the roost by 2032
Under the regional analysis, the Asia-Pacific region contributed for the largest share in 2022, contributing to more than two-fifths of the total market revenue and is expected to maintain the dominant status during the forecast period. The same region is also expected to manifest the fastest growth with 6.2% CAGR from 2023 to 2032. The factors contributing to the growth of the market are strengthening industrialization, continuously developing economic status, and evolving construction industry.
Key market players:
- Cera-Chem Pvt.
- SWC Brother Company Limited
- Flowcrete Group Ltd.
- ACC Limited
- Chembond Chemicals Limited
- Sika AG
- Fosroc, Inc.
- MAPEI S.p.A.
The report offers an in-depth analysis of prominent participants in the global construction chemicals market. These companies have implemented various strategies, including the collaborations, introduction of new products, expansion, agreements, joint ventures and more, with the aim of augmenting their market presence and sustaining a leading position in diverse regions. The report serves as a valuable resource for shedding light on the business performance, product portfolios, operational segments, and strategic maneuvers of market players, providing insights into the competitive landscape.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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