Global Construction Chemical Market: Promising Growth Driven by Sustainable Practices and Technological Innovations

The global construction chemical market has experienced significant growth in recent years, driven by increased construction activities, infrastructure development, and a growing emphasis on sustainable building practices. This comprehensive market report provides valuable insights into the key trends, drivers, challenges, and opportunities shaping the construction chemical industry.

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► Market Overview:
The market for construction chemicals has rapid growth, and it is anticipated that it will keep growing at a CAGR of 6.1% over the projected period of 2023-2028. Rising urbanization, population expansion, and the demand for infrastructure expansion in both established and emerging nations are the main market drivers. The COVID-19 resurgence and Russia's invasion of Ukraine hampered the sector's economic prospects, but there is still hope for the future of the world's construction industry. Due to the growing worldwide construction activity, the demand for construction chemicals is anticipated to rise in the upcoming years. According to the International Finance Corporation (IFC), green buildings are anticipated to offer significant worldwide investment opportunities over the next ten years, with an estimated value of USD 24.7 trillion by 2030.
Just four countries-China, India, the United States, and Indonesia-are responsible for the majority of the estimated global growth in building between 2020 and 2030, accounting for 58.3% of the demand for construction chemicals.

Key Development
■ In 2023, Egyptian developer West Way Developments intends to start construction on residential and commercial projects. A total of one billion Egyptian pounds (USD 33 million) would be invested in the company's two residential developments in New Zayed, West Cairo.
■ In January 2023, CEMEX, launched a new range of bio-sourced admixtures designed to reduce carbon footprints. These admixtures can achieve a carbon footprint up to 70% lower than conventional oil-based admixtures because they use raw materials that are natural, renewable, and locally produced.
■ One of the largest paint manufacturers in Asia-Pacific, Nippon Paint (India) Private Limited (Decorative Division), has announced its strategic entry into the Construction Chemicals sector.

► Key Findings:
■ Increased consumer demand for low-carbon products: Global CO2 emissions from the chemical sector in 2021 reached 925 million metric tonnes (MT), or about 2% of all emissions. The sector has seen fundamental changes as a result of growing environmental concerns, including a rise in customer demand for products with reduced carbon emissions.

■ Expanding Construction Industry: In many emerging countries, cities have grown quickly, which has resulted in a high rate of urbanization. An increase in per capita disposable income and a higher standard of life will boost market demand overall. The majority of government funding on infrastructure projects in China would be used to build urban infrastructure, including parks, water and gas pipe networks, and urban highways, with investments totaling Yuan 6.8 trillion (about USD 1 trillion).

■ Product Innovation: In March 2023, Euclid Chemical announced the launch of three new concrete admixtures to respond to the rapidly evolving needs of construction and concrete professionals. The new admixtures include Eucoshield, Eucon Eco Strength, and Eucon AM 10 ML.

■ Impact of Inflation on Raw Materials: The price of the raw materials needed to produce building chemicals increased significantly in 2021 and 2022. Epoxy resin prices increased significantly by more than 60%. Polyester resins, which are frequently used in powder coatings, have seen a considerable cost increase of up to 45%. However, it is projected that raw material costs would decline by the end of 2023.

■ Restraints: Construction is a labor-intensive industry. Due to social, economic, and physical factors determining how well-unskilled workers perform, the construction industry is quite concerned about the low productivity of these workers. Unskilled labors are one of the key challenges faced by the construction industry, as skilled labors during construction play a pivotal role in the enhancement of project performance.

The future of the construction chemical market looks promising, with the adoption of sustainable practices and continuous technological innovations driving growth. Companies are expected to focus on strategic partnerships, mergers and acquisitions, and product diversification to gain a competitive edge in the market.
In conclusion, the construction chemical market is experiencing remarkable growth due to increasing construction activities, technological advancements, and sustainability trends. With a focus on sustainable practices and innovation, the industry is poised for substantial development in the coming years.

The study conducted by Makreo Research on the "Construction Chemical Market Report and Forecast (2018-2028): by Product Type (Concrete Admixtures, Asphalt Additives, Waterproofing Chemicals, Adhesives & Sealants, and Others), by Geography (North America, Europe, Asia-Pacific and Middle East & Africa) and by End Users (Residential, Industrial, Commercial, Infrastructural, and Others)" focuses on the specific sector of construction chemicals. Also research has been deep dived into geographical area which include major contributing countries in the region. The market has witnessed many shifts in recent past after the COVID-19 outburst & Russia- Ukraine war that hampered the market. The report provides a comprehensive analysis of the market, encompassing a wide range of factors. The report takes into account both qualitative and quantitative factors, indicating a well-rounded approach to analysis. The inclusion of both qualitative and quantitative factors in the study ensures that readers gain a more complete understanding of the Global Construction Chemical Market. It goes beyond mere numbers and incorporates insights into consumer behavior, industry trends, and market dynamics. Moreover, the report's focus on past and present performance, as well as potential growth opportunities in the future, enables readers to identify key areas of interest and investment. The competition has also been carefully examined in terms of significant M&A transactions that have occurred in the market and recent financial infusions.

■ Period of Study
2018-2022 : Past and Present Scenario
2022: Base Year
2023-2028 : Future Outlook of the industry

■ Market Segmentation:
The report examines the construction chemical in terms of market revenue and further breakdown into market segmentation:

By Region (North America, Europe , Asia Pacific, and Middle East & Africa)
Regions are further divided into geographical area

North America (United States, Canada, and Mexico)

Asia Pacific (China, India, Japan, Australia)

Europe (Germany, UK, France)

By Product Segmentation (Concrete Admixtures, Asphalts Additives,
Waterproofing Chemical, Adhesives & Sealant and Others)

By End User (Residential, Industrial, Commercial, Infrastructural, and Others)

■ Competitive landscape:
Competitive Landscape
Mergers/Acquisition/Investment
Company Profiles

■ Company's Covered:
Arkema Global
Dow Chemical Company
Fosroc Constructive Solutions
Mapei S.p.A
RPM International Inc
Sika AG
Henkel AG
Ashland Inc
Pidilite Industries Limited
Akzo Nobel
3M
W.R. Grace and Co

For more information on the research report, refer to below link:
Asia Pacific Construction Chemical Market Analysis and Forecast (2018-2028) - Segmentation by Geography, Product, and End User
https://www.makreo.com/report/asia-pacific-construction-chemical-market-analysis-and-forecast-2018-2028

Similar Related Reports:-
https://www.makreo.com/report/europe-construction-chemical-market-analysis-and-forecast-2018-2028

https://www.makreo.com/report/north-america-construction-chemical-market-analysis-forecast-2018-2028

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This release was published on openPR.