Construction chemicals are specialty and performance adhesives, sealants, protective coatings, waterproofing chemicals, concrete admixtures and repair chemicals used in both residential and commercial constructions. They provide durability, strength, and protection to buildings from environmental factors.
The global Construction Chemicals Market is estimated to be valued at US$ 91.95 billion in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growth of the construction chemicals market is primarily driven by increasing infrastructure development activities across both developed and developing countries. Rapid urbanization and rising disposable income are increasing both residential and non-residential construction spending globally. The construction industry relies heavily on construction chemicals as they provide strength, durability, waterproofing and protection to structures. For instance, concrete admixtures are widely used in infrastructure projects to enhance the strength and workability of concrete. Sealants help in preventing infiltration of water, air and noise to extend the lifespan of buildings. Rising demand from developing regions of Asia Pacific and Middle East for infrastructure development will accelerate the consumption of construction chemicals over the forecast period.
Segment Analysis
The global construction chemicals market can be segmented based on type into concrete admixtures, waterproofing & roofing, repair, flooring, and sealants. The concrete admixtures segment currently dominates the market as the use of concrete admixtures help in enhancing the properties of concrete such as workability, strength, and water reduction. The growing construction industry globally has increased the use of concrete, thus driving the demand for concrete admixtures.
Key Takeaways
The Global Construction Chemicals Market Demand is expected to witness high growth over the forecast period of 2024 to 2031. The rising population, rapid urbanization and increasing investments in infrastructure development are some of the major factors expected to fuel the demand for construction chemicals globally. The global Construction Chemicals Market is estimated to be valued at US$ 91.95 billion in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 to 2031.
Regional analysis - Asia Pacific currently dominates the global construction chemicals market and is expected to maintain its leading position during the forecast period. This can be attributed to significant infrastructure investments and rapid urbanization taking place in countries such as China and India. Furthermore, growing construction activities in Southeast Asian countries are also contributing to the market growth in the region.
Key players - Key players operating in the construction chemicals market are 3M Company, Dentsply Sirona, Danaher Corporation, Mitsui Chemicals, Inc., Institut Straumann AG, Septodont Holding, Ivoclar Vivadent AG, Coltene Holding AG, GC Corporation, and Zimmer Biomet Holdings, Inc., among others. Strategic partnerships and new product launches are some of the core strategies being adopted by these players to gain a competitive advantage in the market.
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