Global Construction Chemical Market Flourishes, Fueled by Megaprojects and Green Building Trends

Source:
Makreo Research
Mumbai, August 16, 2023

Global Construction Chemical Market Registers 2.2% CAGR Growth from 2018 to 2022, Crossing USD 40 Billion Revenue Mark

The global construction chemical market experienced impressive growth, boasting a Compound Annual Growth Rate (CAGR) of 2.2% between 2018 and 2022. The revenue surged beyond USD 40 billion in 2022, a testament to the industry's vitality. The robust expansion was largely fueled by a surge in demand for construction chemicals, notably propelled by prestigious megaprojects such as The Great Man Made River Mega Project (Libya), Chuo Shinkansen High-Speed Railway Project (Japan), Jubail II (Saudi Arabia), and Dubailand (Dubai), as highlighted by Makreo Research.

► Green Building Opportunities to Drive Future Demand
According to Makreo Research, the momentum is poised to continue in the years ahead with an upswing in global building activity. Notably, the forthcoming demand for construction chemicals is set to be further augmented by the rise of green buildings, presenting substantial investment prospects on a global scale. The International Finance Corporation (IFC) projects a staggering value of USD 24.7 trillion by 2030 for green buildings, fostering a lucrative avenue for growth in the industry.

► Concrete Admixtures Emerge as Premier Category
Concrete admixtures stand out as the leading revenue contributor, accounting for more than 40% of the global construction chemical market's earnings. Forecasts indicate that this category is poised to exhibit the fastest growth rate in the foreseeable future. A driving force behind this surge is the development of innovative, intricate, and enhanced concrete admixtures, catering to the construction industry's evolving needs.

► Waterproofing Membranes Projected to Reach USD 40 Billion by 2030
In line with the expanding infrastructure construction and global building activities, the market for waterproofing membranes is anticipated to reach USD 40 billion by 2030. This anticipated surge is set to be driven by new markets created for waterproofing membrane products, underscoring the growing importance of waterproofing in the construction sector. Other product segments, while contributing modestly to the building chemistry landscape, are expected to exert a noteworthy influence on overall demand.

► Asia Leads, with Notable Contribution from China, the US, and India
The construction chemical sales landscape is notably dominated by Asia, followed by Europe, North America, the Middle East, and Africa. Notably, China, the US, and India are projected to collectively account for 57% of global growth in the engineering and construction sectors by 2030. The rapid expansion of the construction industry in North America, particularly the United States and Canada, has elevated the region to the third position in global sales of concrete admixtures. Government incentives and a burgeoning residential sector have significantly propelled this growth.

► Innovations and Developments Shaping the Industry
Industry players are actively contributing to the sector's evolution. Sika's establishment of a concrete admixture facility in Stafford, Virginia, and Euclid Chemical's introduction of three novel concrete admixtures, namely Eucoshield, Eucon Eco Strength, and Eucon AM 10ML, illustrate the ongoing commitment to innovation.

► Promising Projects Set to Elevate Construction Chemical Demand
The future looks promising, with transformative projects poised to escalate demand for construction chemicals. London's USD 20 billion Crossrail development, the US's staggering USD 30 trillion investment in building over the next 14 years, Nigeria's projected 160% growth in its building industry by 2030, and China's USD 2.1 trillion contribution to global construction production by 2030 due to its expanding healthcare and infrastructure needs all present significant opportunities.

► Conclusion: A Dynamic Future Beckons for the Global Construction Chemical Industry
The Makreo Research Report paints a compelling picture of the global construction chemical industry's future. With megaprojects injecting momentum, green building practices reshaping strategies, and innovation driving progress, the industry is well-poised for a vibrant and transformative journey ahead. As Asia's dominance and the contributions of key economies like China, the US, and India become increasingly evident, it is clear that the construction chemical industry will play a central role in shaping the global construction landscape.

Get More Details in Our Full Report:
Construction Chemical Market Report and Forecast (2018-2028)
https://www.makreo.com/report/construction-chemical-market-report-and-forecast-2018-2028

Similar Related Reports:
Asia Pacific Construction Chemical Market Analysis and Forecast (2018-2028)
https://www.makreo.com/report/asia-pacific-construction-chemical-market-analysis-and-forecast-2018-2028

North America Construction Chemical Market Analysis and Forecast (2018-2028)
https://www.makreo.com/report/north-america-construction-chemical-market-analysis-forecast-2018-2028

■ 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 market in terms of market revenue and further breaks it down into market segmentation:

By Region (North America, Europe, Asia Pacific, and Middle East and Africa)
Regions are further divided into a 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
Others

■ By End User:
Residential
Industrial
Commercial
Infrastructural
Others

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

■ Companies 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

Makreo Research and Consulting
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Contact:
Meetu Bhasin, Director of Research and Operations
Phone Number
+91-9619699069
Email Address
info@makreo.com

Makreo Research is a market research and consulting firm working closely with business conglomerates worldwide to assist them in many aspects of driving their business growth and making wise decisions with the help of our qualitative and quantitative market insights.

This release was published on openPR.