Construction Chemicals Market to Grow at a CAGR of 5.30% through 2027
Increasing
applications in infrastructure and real estate development projects, rising
R&D activities and shifting trend toward sustainable building materials are
anticipated to boost global construction chemicals market through 2027.
According to TechSci Research
report, “Construction Chemicals Market - Global Industry Size, Share, Trends, Competition, Opportunity, and
Forecast, 2017-2027”, the global Construction
Chemicals market is expected to reach USD37295.64 million by 2027 and is
projected to register a CAGR of 5.30% during the forecast period, 2023-2027 owing
to significant financial investment and supportive government policies. Growing
investments in infrastructure for renewable energy and rising construction activities
in developing countries are the key factors driving the demand for global construction
chemicals market in the next five years. A sharp rise in expenditure on
renewable energy production capacity is predicted to propel global construction
chemicals market throughout the forecast period. Several power generation
companies, particularly in the United States and Europe, are investing in
renewable energy sources. Furthermore, increasing construction activities
in emerging nations is anticipated to fuel market expansion in the future
years. Among the nations with booming construction industries,
are Saudi Arabia, China, Brazil, India, and Indonesia. For instance, according
to the National Bureau of Statistics, China's building production boosted its
GDP contribution from 6.2 % in 2019 to 25.9 % in 2020.
The construction
industry has seen a significant rise worldwide owing to rapid urbanization and
population growth. Owing to the growing demand for homes and government
initiatives, residential development witnessed a substantial recovery in
2021.Thereby, increasing the overall demand for construction chemicals
worldwide.
However, there are some
challenges too which provide resistance to global construction chemicals market.
The primary factor anticipated to restrain the growth of the construction chemicals
market is the increase in the number of environmental regulatory laws
pertaining to volatile organic compound (VOC) emissions. Even though COVID-19 has had a severe impact on
construction activities all around the world, the market is eventually expected
to recover at some point of time in the future. Since many things, including
people's lives, are on the line, most businesses won't compromise on the
quality of the chemicals used in building.
Browse over 128 market
data Figures spread through 110 Pages and an in-depth TOC on "Global
Construction Chemicals Market"
The
global construction chemicals market is segmented based on product type, application,
company, and regional distribution. Based on product type,
the market can be split into concrete admixtures, construction adhesives & sealants,
protective coatings, waterproofing chemicals, and others. Based on application,
the market is divided into residential, industrial/commercial, infrastructure and
repair structures. The market analysis also studies the regional segmentation
divided among the Asia-Pacific, North America, Europe, Middle East & Africa,
and South America. The Asia-Pacific construction chemicals market stood at USD
9900.58 million in the year 2021 and is projected to grow at a CAGR of 5.87%
during the forecast period. Asia-Pacific comprises some of the most populated
and developing nations, such as China, Japan, India, South Korea, Thailand
etc., so construction and infrastructure development is expected to directly
boost the global construction chemicals market. The United States construction chemicals
Market stood at USD 1153.80 million in the year 2021.
Major
market players operating in the global construction chemicals market are:
·
Sika
AG
·
Mapei
S.p.A
·
Arkema
SA
·
RPM International
·
The Dow Chemical Company
·
Pidilite Industries Limited
·
Ashland
INC
·
FOSROC
International
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“Construction chemicals are
used in various building materials to improve workability, performance, provide
functionality, and preserve the fundamental or specific aspects of a structure
during construction. The environment of the entire construction sector has changed
because of construction chemicals. Their use has increased the quality of
construction materials, which is why it is widely employed in projects to
provide sustainability. The rise in the number of industries and the growing
adoption of advanced technologies during industrial processes is expected to
propel the global construction chemicals market growth till 2027”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Construction Chemicals
Market - Global Industry Size, Share, Trends, Competition, Opportunity and
Forecast, 2017-2027 By Product Type (Concrete Admixtures, Construction
Adhesives & Sealants, Protective Coatings, Waterproofing Chemicals,
Others), By Application (Residential, Industrial/Commercial, Infrastructure,
Repair Structures), By Region”, has evaluated the future
growth potential of global construction chemicals market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global construction chemicals market.
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