North America's Construction Chemical Market Soars Amidst Growth and Sustainability Focus

Source:
Makreo Research
Mumbai, August 17, 2023

The North America construction chemical market is experiencing robust growth driven by various factors such as increasing infrastructure development, urbanization, and a focus on sustainable construction practices. This market expansion presents both challenges and opportunities for industry players.

The US, Canada, and Mexico are the key contributors to the construction chemicals market in North America. The construction sector in North America is rapidly developing due to a robust economy and augmented federal and state financing for public works and institutional structures. With the increasing population, the demand for residential and commercial construction is increasing, which has positively boosted the demand for construction chemicals.

Makreo Research analysis indicates a swift expansion in the construction chemicals market, with expectations of a consistent growth trajectory at a compound annual growth rate (CAGR) of 5.1% throughout the forecasted timeframe spanning from 2023 to 2028.

► Key Development:
■ In January 2022, Holcim purchased PRB Group, France's largest independent maker of specialty building solutions, for EUR 340 million (USD 395 million) in net sales in 2022 (estimated). PRB Group provides a wide range of high-performance building solutions, including coatings, insulation, adhesives, and flooring systems, as well as sophisticated energy efficiency and rehabilitation solutions.
■ 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.
■ On October 24, 2022 - Dow and CAS, a division of the American Chemical Society, have established a strategic collaboration focused on digital capabilities that accelerate research and development and identify new opportunities within key growth areas around the world.

► Key Findings:
■ Rapid Expansion of Concrete Admixtures: The North American construction industry is experiencing a substantial increase in the demand for concrete admixtures, driven by a range of factors that are reshaping the way concrete is used in construction projects across the region.
■ 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 footprints.
■ Impact of Inflation on Raw Materials
In 2021 and 2022, there was a considerable rise in the cost of the raw materials required to manufacture building chemicals. The cost of epoxy resin rose sharply to more than 60%. The cost of polyester resins, widely used in powder coatings, has also increased significantly, by as much as 45%.

As per Makreo's forecasts, the construction chemical market in North America is prospering in light of the current construction surge in the region and the strong focus on sustainable practices. Companies within the industry that can effectively navigate obstacles, leverage emerging trends, and provide inventive solutions are poised to assume a leading role in shaping the forthcoming landscape of the construction chemical market.

Furthermore, Makreo envisions a continuous upward trajectory for the demand of concrete admixtures in North America. This anticipation is rooted in sustained investments in infrastructure, urban expansion, and a concerted emphasis on sustainable construction methods.

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

Similar Related Reports:
Europe Construction Chemical Market Analysis and Forecast (2018-2028) - Segmentation by Geography, Product, and End User
https://www.makreo.com/report/europe-construction-chemical-market-analysis-and-forecast-2018-2028

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

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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.