The construction chemicals market includes products such as concrete admixtures, waterproofing chemicals, protective coatings, adhesives, sealants, and others. Concrete admixtures are being increasingly used in construction to improve the workability, durability, and other properties of concrete. Waterproofing chemicals are vital for preventing water seepage and erosion in infrastructures like tunnels and bridges. Due to rising commercial and residential construction activities, along with infrastructure development projects globally, the demand for construction chemicals is surging.
The Global construction chemicals market is estimated to be valued at US$ 91.95 Mn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Construction Chemicals Market Size 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. These players are focusing on developing innovative and sustainable products to strengthen their market position.
The construction industry is rapidly expanding with increasing urbanization and infrastructure development projects worldwide. This presents numerous opportunities for construction chemicals manufacturers to cater to the rising demand. However, stringent environmental regulations around the globe could act as a challenge for market players regarding product formulations.
The construction chemicals demand is high in emerging nations due to large-scale construction activities. Key players are investing heavily in these regions for geographical expansion. Manufacturers are also focusing on collaborations with regional companies and establishing production facilities to cater to the local demands. This will help them strengthen their global footprint.
Market drivers: The increasing construction of residential & commercial buildings paired with infrastructure development projects across major economies is the key factor driving the growth of the construction chemicals market.
Market restraints: Stringent environmental regulations around VOC emissions from chemical products along with expensive raw material costs pose challenges to market growth.
Segment Analysis
Concrete Admixtures sub segment dominates the construction chemicals market as it finds application in various construction projects including residential, commercial and infrastructure projects. Concrete Admixtures alter the properties of concrete such as workability, water resistance, durability, strength and permeability. They reduce permeability of concrete and thus protects reinforcing steel from corrosion. This extends life and durability of concrete structure. Increasing construction projects and buildings where concrete is widely used as a primary construction material is driving demand for concrete admixtures.
Global Analysis
Asia Pacific region is witnessing fastest growth in construction chemicals market owing to swift infrastructural development and growing construction activities in China, India and other Southeast Asian countries. China dominates the APAC construction chemicals market due to increasing investments in construction sector including buildings, infrastructure and other civil engineering structures. South East Asian countries are also witnessing robust growth in construction industry. North America and Europe are matured markets for construction chemicals. However, recovering construction sector after economic slowdown is contributing to market growth. Countries in Middle East and Latin America are expected to create significant demand for construction chemicals during forecast period supported by public and private construction projects.
Get more insights on Construction Chemicals Market
Comments
0 comment