The construction chemicals market size has witnessed substantial growth in recent years, rising from $48.96 billion in 2023 to $53.73 billion in 2024, reflecting a compound annual growth rate (CAGR) of 9.7%. The expansion in this period is attributed to infrastructure development, durability requirements, the use of concrete admixtures, waterproofing solutions, and involvement in repair and restoration projects. The market is projected to surge to $77.77 billion by 2028, with a CAGR of 9.7%. This anticipated growth is driven by sustainable construction practices, energy-efficient building solutions, a focus on safety and resilience, and the expansion of residential construction.
Major Driver In The Construction Chemicals Market
The burgeoning demand in construction activities significantly bolsters the growth of the construction chemicals market. Construction encompasses a spectrum of activities involving building, alteration, repair, remodeling, and demolition of structures. Construction chemicals play a crucial role in minimizing abrasions, strengthening bonds, and enhancing the longevity of buildings. According to the FMI Corporation, engineering and construction investment is set to increase by 5% in 2022 compared to 2021, with significant contributions from major economies like China, India, and the USA. Hence, the surge in construction activities is expected to drive the growth of the construction chemicals market. In 2023, the construction chemicals market was valued at $M billion and is projected to reach $N billion by 2024, further escalating to $O billion by 2028.
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Construction Chemicals Market Competitive Landscape
Koch Industries Inc., BASF SE, The Dow Chemical Company, Saint-Gobain, Master Builders Solutions, Imperial Brands PLC, 3M Company, HOLCIM, Henkel AG & Co. KGaA, Densified Inc., Cemex S.A.B. de C.V., Arkema S.A., AkzoNobel N.V., Wacker Chemie AG, RPM International Inc., Etex Group, Chembond Chemicals Limited, Bostik S.A., Ashland Global Specialty Chemicals Inc., MBCC Group, W. R. Grace and Company, Sika AG, Pidilite Industries Limited, CICO Group, Fosroc International Limited, Mapei S.p.A., ACC Limited, Cera-Chem Pvt. Ltd., Flowcrete Group Ltd., SWC Brother Company Limited
Key Construction Chemicals Market Trend
Strategic partnerships are a growing trend in the construction chemicals market. Companies are forming alliances to strengthen their market position. For instance, in January 2021, Nippon Paint, a Japan-based paint manufacturer, partnered with Choksey Chemicals, an Indian construction chemicals manufacturer, to supply waterproofing and sealant grades in India. Additionally, in May 2022, Pidilite Industries Limited, an Indian adhesives company, teamed up with GCP Applied Technologies to provide high-performance waterproofing solutions under the Dr.Fixit brand.
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Construction Chemicals Market Segmentation
The construction chemicals market covered in this report is segmented –
1) By Type: Concrete Admixtures, Waterproofing and Roofing, Repair, Flooring, Sealants and Adhesives, Other Types
2) By End-User: Commercial, Industrial, Infrastructure and Public Places, Residential, Public Space
By Geography:The regions covered in the construction chemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the construction chemicals market in 2023.
The Construction Chemicals Global Market Report 2024 furnishes information about the global construction chemicals market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
