Construction Chemicals Market to Surpass USD 72.06 Billion by 2030 Owing to Rapid Urbanization and Infrastructure Boom

" The construction chemicals market is expected to grow significantly, primarily driven by the upsurge in building, construction, and infrastructure projects." 

The construction chemicals market is further accelerated by the rapid urbanization observed in many developing regions and is expected to boom the market landscape over the forecast period.

The SNS Insider report indicates that the Construction Chemicals Market was worth USD 41.94 billion in 2022 and is expected to grow to USD 72.06 billion by 2030, with a CAGR of 7.0% in the forecast period. The construction chemicals market is experiencing robust growth globally, fueled by rapid urbanization, infrastructure development, and the increasing demand for high-performance construction materials. These chemicals play a vital role in enhancing the durability, strength, and sustainability of various construction projects, including residential, commercial, industrial, and infrastructure developments. They encompass a wide range of products such as concrete admixtures, waterproofing compounds, adhesives, sealants, protective coatings, and repair mortars, among others.

Concrete admixtures are one of the key segments in the construction chemicals market, accounting for a significant share of the overall revenue. These additives are used to improve the workability, strength, durability, and performance of concrete mixes, enabling builders and contractors to achieve specific properties and characteristics tailored to their project requirements. Admixtures help in reducing water content, enhancing setting times, controlling air content, and mitigating the adverse effects of temperature variations and harsh environmental conditions on concrete structures.

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Some of the Key Players Included are:

The Key Players are BASF SE, Pidilite Industries Ltd, Apple Chemie India Pvt Ltd, Cross International Plc, Dow, R. Grace and Company, Evonik Industries AG, Huntsman International LLC, Ashland Inc., RPM International Inc., Henkel AG, Tata Chemicals, Sika AG, Fosroc Inc. & Other Players.

Market Overview:

Construction chemicals are specialty chemical compounds used in construction activities, enhancing the performance of materials like cement, concrete, and coatings. These chemicals provide high strength, durability, and protection from environmental hazards. The growing awareness of environmental concerns and changes in global government policies are driving the adoption of construction chemicals, especially for sustainable building activities. Major players in the construction industry focus on green and sustainable materials, contributing to overall building protection and environmental sustainability.

Market Analysis:

The expansion of new construction and repair sectors in developing economies, driven by population growth in economies like China and India, is a significant driver for construction chemicals. The demand for various construction chemicals, including adhesives, concrete admixtures, and cement additives, has risen alongside the increased consumption of cement. Enhanced product offerings and technological advantages in construction chemicals improve structure performance, durability, and corrosion resistance. The growing construction industry in developing economies and the demand for public, commercial, and residential structures are key factors propelling the construction chemicals market.

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Segment Analysis:

Based on type, the concrete admixtures segment is expected to dominate the market during the forecast period, driven by its extensive use in construction, particularly in China, India, the United Kingdom, and Germany. In terms of application, the infrastructure segment led the construction chemical market in 2022 due to the growing demand for commercial buildings, bridges, roads, dams, and tunnels.

By Type

Concrete admixtures
Waterproofing & roofing
Repair
Flooring
Sealants & adhesives
Others
 
By Application

Residential
Industrial
Infrastructure
Repair structures
 
Regional Development:

Asia-Pacific accounted for the majority of revenue share in 2022, driven by rapid growth in building and government support for infrastructure. The region's expanding middle class, increased demand for luxury homes, and significant construction projects contribute to its dominance. In Europe, the construction chemical market is primarily driven by the residential segment, including middle-class, elite, and low-cost housing.

Key Takeaway for Construction Chemicals Market Study:

Rapid urbanization and infrastructure development are driving the construction chemicals market globally.
Concrete admixtures and infrastructure applications dominate the market.
Asia-Pacific holds a significant share due to rapid growth and government incentives.
The residential segment plays a crucial role in the European market's growth.
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Recent Developments:

In Sept 2023, Huntsman Corporationlaunched its Technology Portal, facilitating external collaborations and unlocking potential business opportunities.
In April 2023, Indigo Paints acquired a 51% stake in Apple Chemie Indiato strengthen its position in the construction chemicals market.
In July 2021, Saint-Gobainacquired Chryso, expanding its presence in the construction chemicals market with combined sales of more than €3 billion across 66 countries.

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