Global Construction Chemicals Market Forecast to Reach US$ 58.65 Billion by 2027 with a CAGR of 6.2%

Global Industry Analysis:

Construction chemicals are specialty products that are used in the construction industry to improve the performance of construction materials, increase durability, and provide protection against environmental factors such as corrosion, water, and UV light. The global construction chemicals market has been growing in recent years due to the increasing demand for high-performance construction materials and the growing construction industry worldwide. This report provides an overview of the construction chemicals market, including market size, growth rate, key drivers, challenges, and trends.

Market Size and Growth Rate:

The global construction chemicals market size was valued at USD 38.14 billion in 2020 and is expected to reach USD 58.65 billion by 2027, with a CAGR of 6.2% during the forecast period of 2021-2027. The market growth can be attributed to factors such as increasing demand for sustainable and energy-efficient buildings, growing urbanization, and the need for efficient and durable construction materials.

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Key Drivers:

There are several factors driving the growth of the construction chemicals market, including increasing construction activities, rising demand for high-performance construction materials, and the need for sustainable and energy-efficient buildings. The demand for construction chemicals is also driven by the increasing use of precast and prefabricated construction materials, which require specialized chemical additives to improve their performance and durability.

Challenges:

Despite the growth of the construction chemicals market, there are several challenges that are hindering its growth. One of the key challenges is the fluctuation in the prices of raw materials used in the production of construction chemicals, which can impact the profit margins of manufacturers. Moreover, the high cost of advanced construction chemicals can be a deterrent for small and medium-sized construction firms, which may prefer cheaper but less efficient alternatives.

Trends:

There are several trends that are shaping the construction chemicals market, including the increasing use of green and sustainable construction chemicals. The demand for eco-friendly construction chemicals is driven by the growing focus on environmental sustainability and energy efficiency. Additionally, there is an increasing trend towards the use of smart construction chemicals that can monitor the performance of construction materials in real-time, enabling proactive maintenance and repair.

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Key Players:

Owing to better growth prospect in the construction industry many multinational companies have started investing to develop advance construction chemical products. In 2012, globally construction chemical industries total investment on research and development of new products and applications was about 3% of total sales. Some of the major companies operating in the global construction chemical market are Axim Italcementi Group, The Dow Chemical Company, CICO Technologies Ltd, Ashland Inc., BASF, SIKA and RPM International.

Key points covered in the report

Report segments the market on the basis of types, application, products, technology, etc (as applicable)

The report covers geographic segmentation

• North America
• Europe
• Asia
• RoW
• The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
• The report provides company profiles of some of the leading companies operating in the market
• The report also provides porters five forces analysis of the market.

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The Chemicals and Materials division of Persistence Market Research offers distinct and pin-point analysis about chemicals and materials industry. Chemical coverage extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular with special emphasis on 'green alternatives', recycling and renewable technology developments, supply-demand-trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners and government bodies for developing - 'The Way Forward'.

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