Construction Chemical Market Projected to Grow at 5.20% CAGR, Reaching USD 79.5 Billion by 2034

The construction industry is witnessing a surge in activities post the pandemic, and this has resulted in an increased demand for materials associated with infrastructure development. One such material is construction chemicals, which are getting substantial attention from companies involved in construction, be it private or public. The market valuation of construction chemicals is in line to reach a staggering USD 48,209.4 million as of 2024.

The construction chemical market is expected to grow at a modest CAGR of 5.20% through 2034, owing to the adoption of these chemicals in residential settings. The mechanization of the construction sector has also led to the construction of numerous roads, dams, buildings, shopping malls, and other structures in emerging economies like India, South Korea, Brazil, Thailand, and others. This is why, there is an excellent demand for construction chemicals, which is the reason for the market valuation to reach an expected amount of USD 79,548.1 million by the end of 2034.

The increasing demand for construction chemicals can be attributed to the need for sustainable infrastructure development. They also help in reducing the carbon footprint of the construction process, thereby promoting environmentally friendly construction practices. With the construction industry expected to grow significantly in the coming years, the demand for construction chemicals is likely to remain strong, making it a lucrative market for investors.

Click Here to Request Your Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-284

“The construction sector is significantly making a comeback in recent years. Companies involved in the construction chemical market must recognize this trend and should seize the opportunity to capitalize on the industry's growth”, opines an FMI analyst.

Key Takeaways from the Market Study

·        The concrete admixture segment dominates the global construction chemical market with an expected share of 62.70% in 2024. 

·        Based on application, the residential segment leads the construction chemical market with an expected share of 41.50% in 2024. 

·        The construction chemical market in India is anticipated to grow at a CAGR of 10.72% through 2034.

·        The construction chemical market in China is estimated to rise at 8.04% CAGR through 2034.

·        The construction chemical market in Spain has the potential to increase at 5.36% CAGR through 2034.

·        The French construction chemical market is predicted to rise by 5.03% CAGR through 2034.

·        The construction chemical market in Italy is in line to grow at a CAGR of 4.69% through 2034.

Competitive Landscape

The construction chemical market is highly competitive with several manufacturers and suppliers catering to the needs of real estate firms.

·        Established players in the market have a strong foothold, owing to their prolonged presence and experience in the industry.

·        Companies in the market are actively collaborating and merging to leverage each other's expertise and expand their market share.

·        Prominent players in the market include Sika AG, BASF SE, Dow Chemical Company, Henkel AG & Co. KGaA, RPM International Inc., Fosroc International Limited, and MAPEI Corporation.

Recent Developments:

·        In December 2023, Saint-Gobain acquired a majority stake in IMPTEK Chova del Ecuador to expand its waterproofing solutions in Latin America.

·        Chembond Chemicals underwent a restructuring plan in December 2023, leading to a 12.72% rise in shares.

·        In December 2023, Saint-Gobain acquired Menkol Industries to reinforce its position in the Indian market and bolster its Construction Chemicals segment.

·        Magicrete completed a mass housing project in Ranchi in March 2024, constructing over 1,000 apartments using their 3D modular precast concrete system.

·        In January 2024, SCCL and Dyno Nobel signed an MoU for a new chemical facility in Ras Al Khair, aiming to produce nitric acid and ammonium nitrate.

·        Vink Chemicals commenced construction on a new production facility in Schwerin in April 2024, creating 45 full-time jobs and enhancing supply chains.

Key Companies

·        Sika AG

·        BASF SE

·        Dow Chemical Company

·        Henkel AG & Co. KGaA

·        RPM International Inc.

·        Fosroc International Limited

·        MAPEI Corporation

·        Arkema Group

·        W. R. Grace & Co.

·        GCP Applied Technologies Inc.

Key Segments of the Construction Chemical Industry

By Product Type:

  • Waterproofing Chemicals
  • Protective Coating
  • Concrete Admixture
  • Adhesives & Sealants
  • Asphalt Additives

By Application:

  • Residential
  • Commercial & Industrial
  • Infrastructure

By Region:

  • North America
  • Latin America
  • Europe
  • Middle East and Africa
  • Asia Pacific

 

Comments

Post a Comment

Popular posts from this blog

Composite Door and Window Market Primed for Robust Growth, Targeting US$ 1.7 Billion by 2034

The composite door and window market is anticipated to be valued at US$ 0.83 billion by 2024. The market valuation is estimated to be US$ 1.7 billion by 2034, projected at a CAGR of 7.4%. The increasing demand for energy-efficient building materials is one of the primary drivers. Composite doors and windows offer superior thermal insulation properties, helping to reduce heat loss and energy consumption in residential and commercial buildings. As energy efficiency regulations become more stringent worldwide, a growing preference for composite materials can contribute to sustainable construction practices and lower utility costs for building owners. Request Your Sample Report Now! https://www.futuremarketinsights.com/reports/sample/rep-gb-19075 Composite materials provide excellent durability and resist weathering, corrosion, and rotting, making them ideal for exterior applications such as doors and windows. Homeowners and architects appreciate the low maintenance requirements ...
Read more

Analyzing Trends: Glass Substrate Industry Forecasted to Surpass US$ 4.2 Billion by 2034

The global glass substrate market size is poised for significant growth, reaching US$ 2.3 billion in 2024. The demand for glass substrate is envisioned to witness a strong CAGR of 5.9% from 2024 to 2034. By 2034, the market revenue for glass substrate is anticipated to attain a valuation of US$ 4.2 billion. The swift progress in electronic devices and display technologies is the main factor encouraging market expansion of display glass substrates. The glass substrate industry is also governed by demand from several end-use industries, including solar power, automotive applications, medical, aerospace, and defense. Creating environmentally friendly glass substrates through sustainable production techniques has emerged as a significant component, shifting the market landscape as environmental concerns gain traction. The key display glass substrate market impediment is the increasing high cost of display glass substrate manufacturing and technology development. For manufacturers of g...
Read more

Ceramic Membranes Market Forecasted to Surpass US$ 15.61 Billion by 2033, with CAGR of 11.2%

In 2023, the ceramic membranes market size is expected to be worth US$ 5.45 billion . The market is expected to reach US$ 15.61 billion by 2033, expanding at 11.2% CAGR throughout the forecast period. Ceramic membranes offer excellent filtration capabilities for water and wastewater treatment. They can effectively remove suspended solids, bacteria, viruses, and other contaminants, ensuring clean and safe water. Ceramic membranes are known for their durability, chemical resistance, and high fouling resistance, making them suitable for challenging water treatment applications. Ceramic membranes play a vital role in the food & beverage industry. They are used for clarification, concentration, and separation processes. These membranes help to remove impurities, microorganisms, and unwanted components from liquids, leading to improved product quality, extended shelf life, and enhanced food safety. Get Ahead with Our Report: Request Your Sample Now! https://www.futuremarketinsig...
Read more