PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1419082
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1419082
Construction Chemicals Market size was valued at USD 37,031.10 Million in 2022, expanding at a CAGR of 9.28% from 2023 to 2030.
To keep all the building components together during construction, chemicals known as construction chemicals are used with cement, concrete, or other building materials. Both the project's sustainability and the quality of the building materials will improve. Construction projects make use of chemical substances known as construction chemicals.
To enhance qualities of ready-mixed or hardened concrete, concrete admixtures are artificial or natural chemicals or additives applied during the mixing process. Admixtures for concrete improve the workability, durability, and initial and final strengths of both fresh and hardened concrete. Admixtures for concrete enhance its characteristics for use in construction applications where certain standards are met. When the water-to-cement ratio is low, they attain the desired workability, and when concrete is transported over long distances, they enhance the setting time. These benefits of admixtures are expected to boost the market growth.
Furthermore, the market for construction chemicals will keep growing quickly because more people are becoming aware of the advantages of using these materials, which basically improve the characteristics of construction such strength, resilience to adverse working conditions, and compressive durability. It is also expected that the rate of increase in middle-class residential dwellings will facilitate market expansion. A surge in migration to fast urbanizing areas is the reason behind the growth of many emerging economies. As a result of urbanization, more residential and non-residential structures will be built to meet the growing need. In addition to residential buildings, there are movie theatres, shopping malls, hospitals, and restaurants. As such, the market's growth will pick up speed.
The Global Construction Chemicals Market is segmented on the basis of Product Type, Application, End-User, and Region.
The market is divided into categories based on Product Type: concrete admixture, surface treatment, repair and rehabilitation, protective coatings, industrial flooring, waterproofing, adhesives, sealantsm grout and anchor. The concrete admixture segment dominates the market. concrete admixtures are high in demand from construction with mixing of sand, dust and other chemicals and is expected to boost the market growth.
The market is divided into two categories based on Application: residential and non-residential. The non-residential segment dominates the market and is likely to maintain its dominance during the forecast period. The growing demand from highways, dams, tunnels, and bridges are likely to boost market growth.
The market is divided into four categories based on End-User: industrial infrastructure, public spaces, commercial, and others. The industrial infrastructure segment dominates the market and is likely to maintain its dominance during the forecast period. The increased demand from industrial buildings, construction is expected to fuel the segment growth.
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Leading construction chemicals companies have gained market share mainly through product introductions and developments; these have been succeeded by agreements, contracts, partnerships, and collaborations; expansions; and mergers and acquisitions. In order to enhance their market share and fortify their standing within the competitive industry, the corporations have implemented an array of tactics.
In July 2022, Mapei SpA opened its third facility in Kosi, Mathura, India, to enhance construction chemical output in order to satisfy client demand.
In June 2022, Nitoflor PAFS, a new and unique low-odor, taint-free poly aspartic-based high-build floor coating solution from Fosroc, was made available for use in a broad range of commercial, residential, and industrial flooring applications.
The scope of this report covers the market by its major segments, which include as follows: