Driving Sustainable Growth: North America Construction Chemical Market Thrives on Increasing Infrastructural Activities and Eco-Friendly Trends

The North America 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.

► Market Overview:
The market for construction chemicals has rapid growth, and it is anticipated that it will keep growing at a CAGR of 5.1% over the projected period of 2023-2028. The rapid expansion of the construction industry in the United States and Canada makes North America ranks third in the world for the sale of concrete admixtures. The recent expansion of the construction industry in the area has been greatly aided by various incentives provided by the governments of the separate nations to develop the infrastructure sector, along with the rising residential sector.

► Several factors contributed to the performance of Construction chemicals in North America:
■ Increasing Infrastructural Activity: The region witnessed robust construction activities, including residential, commercial, and infrastructure projects. This increase can be attributed in large part to the beginning of work on expensive projects like the Golden Triangle Ethylene Cracker plant, worth USD 8.5 billion in Orange, Texas; and AltAir/World Energy's new USD 2 billion renewable energy facility in Paramount, California.
■ Emphasis on Sustainable and Eco-friendly Products: There was a growing trend towards environmentally friendly construction chemicals that had low VOC (Volatile Organic Compound) content and reduced environmental impact. Green building initiatives and sustainability practices were influencing the demand for eco-friendly construction chemicals.
■ Technological Advancements: The industry saw innovations in chemical formulations, leading to the development of high-performance construction chemicals. In January 2023, CEMEX, launched a new range of bio-sourced admixtures designed to reduce carbon footprint.

► Key Findings:
■ Demand & Supply Gap in Canada: The lack of cement, a crucial component in the production of concrete, brought on by a combination of rising demand, workforce shortages, inflation, and problems at large factories, is posing considerable challenges for the nation's building industry. Demand for building chemicals will be directly impacted by a lack of cement.
■ Strengthening of GDP Growth: The chemical industry generated USD 5.2 trillion (GBP 4.3 trillion) in the United States, or over one-fourth of the nation's GDP. Increased GDP will directly impact spending and rising demand in the upcoming years.
■ Market Trend: Gypsum plasterboard is manufactured from gypsum, paper and a small amount of additives. Gypsum boards have become the interior finish material of choice, currently covering the interiors of 97% of the new homes constructed in the United States and Canada, as reported by the Gypsum Association.
■ Restraints: Construction is a labour-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 labours are one of the key challenges faced by the construction industry, as skilled labours during construction play a pivotal role in the enhancement of project performance.

The report "North America Construction Chemical Market - Analysis, Trend, and Forecast (2018-2028) - Segmentation by Geography, Product, and End User" by Makreo Research examines the Construction Chemical market in particular. The report provides a complete examination of both historical and current industry trends as it assesses the market for construction chemicals on the basis of product, end-user, and geographic area. The United States, Canada, and Mexico are all included in the study's geographical analysis of the North American market. The report contains a good balance of macroeconomic and microeconomic analysis, both qualitative and quantitative. The changes in macroeconomic variables have been taken into consideration while carefully evaluating the future.

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

► Region Assessed
North America

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

■ By Region (United States, Canada, & Mexico)
■ By Product Segmentation (Concrete Admixtures, Asphalts Additives, Waterproofing Chemicals, Adhesives & Sealants, and Others)
■ By End User (Residential, Commercial and Industrial)

► For more information on the research report, refer to below link:
https://www.makreo.com/report/north-america-construction-chemical-market-analysis-forecast-2018-2028

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

https://www.makreo.com/report/asia-pacific-construction-chemical-market-analysis-and-forecast-2018-2028

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Makreo Research is a market research and consulting firm that works closely with business conglomerates worldwide to assist them in many aspects of driving their businesses.

This release was published on openPR.