Construction Chemicals Market Expected to Reach US$ 79.81 Billion by 2023

Construction Chemicals Market


Market Overview:

The global Construction Chemicals Market is estimated to be valued at US$ 79.81 billion in 2023 and is expected to exhibit a CAGR of 5.74% over the forecast period of 2023-2030, as highlighted in a new report published by Coherent Market Insights. Construction chemicals are specialized chemical formulations used in the construction industry to enhance the performance of materials and structures. These chemicals provide various advantages such as improved workability, increased strength and durability, reduced water usage, enhanced waterproofing, and improved overall quality of construction. The increasing construction activities, rapid urbanization, and growing infrastructure projects across the globe are driving the demand for construction chemicals.

Market Key Trends:
One key trend in the Construction Chemicals Market is the increasing demand for eco-friendly construction chemicals. With growing environmental concerns and regulations, there is a rising preference for construction chemicals that have minimal environmental impact. Eco-friendly construction chemicals are sustainable alternatives to conventional chemicals as they have lower carbon footprints, reduce water usage, and emit fewer harmful substances. These chemicals are widely used in green buildings and sustainable construction projects. Manufacturers in the construction chemicals market are focusing on developing innovative eco-friendly solutions to cater to the growing demand and meet the environmental sustainability goals.

Segment Analysis

The construction chemicals market can be segmented based on type, application, and region. In terms of type, the market can be classified into concrete admixtures, waterproofing chemicals, adhesives and sealants, protective coatings, and others. Among these, the concrete admixtures segment is expected to dominate the market during the forecast period. This is due to the increasing demand for high-performance concrete in various construction projects around the world. Concrete admixtures improve the workability, strength, durability, and chemical resistance of concrete, making them essential in modern construction practices.

Key Takeaways

The Global Construction Chemicals Market Size is expected to witness high growth, exhibiting a CAGR of 5.74% over the forecast period. This growth can be attributed to several factors, including the increasing infrastructure development activities, rapid urbanization, and the growing construction industry in emerging economies. For example, countries like China and India are witnessing significant investments in infrastructure development projects, which are driving the demand for construction chemicals.

In terms of regional analysis, the Asia-Pacific region is expected to be the fastest-growing and dominating region in the construction chemicals market. This can be attributed to the increasing construction activities, urbanization, and rising disposable income of the population in countries like China, India, and Southeast Asian countries. The Asia-Pacific region is also witnessing significant investments in infrastructure projects, such as transportation, residential, and commercial buildings, which is further fuelling the demand for construction chemicals.

Key players operating in the construction chemicals market include Pidilite Industries, BASF SE, RPM International Inc., Sika A.G., The Dow Chemical Company, Fosroc International, Arkema S.A., Ashland Inc., Mapei S.p.A, and W.R. Grace. These companies are focusing on research and development activities to introduce innovative construction chemical products that cater to the changing needs of the construction industry. Additionally, strategic acquisitions, partnerships, and expansions are also adopted by these key players to strengthen their market presence and expand their customer base.

Overall, the construction chemicals market is expected to witness significant growth in the coming years, driven by infrastructure development activities, urbanization, and the increasing demand for high-performance construction materials. The Asia-Pacific region is projected to dominate the market, with key players focusing on product innovation and strategic collaborations to maintain their competitive position.

Comments

Post a Comment

Popular posts from this blog

Security Robot Market is Estimated To Witness High Growth Owing To Increasing Demand for Enhanced Surveillance

Image
Security Robot Market The Security Robot Market is estimated to be valued at US$ 11.8 billion in 2022 and is expected to exhibit a CAGR of 12.87% over the forecast period of 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: The Security Robot Market encompasses advanced robotic technologies that are specifically designed and developed to enhance security and surveillance operations. These robots are equipped with features such as video surveillance, thermal imaging, facial recognition, and intrusion detection, among others. They are extensively used by security agencies and organizations across various sectors, including residential, commercial, industrial, and government, to enhance safety, reduce human intervention, and streamline security operations. Security robots offer real-time monitoring, remote control, and high accuracy, making them an ideal choice for surveillance in sensitive areas and remote locations. Market Dynamics:
Read more

The Ever-Evolving Landscape of the Scottish Whisky Market during the Forecast Period 2019-2027

Image
  Scottish Whisky Market The Scottish Whisky Market is a captivating landscape that has been evolving and transforming over the years. It is a world of tradition, craftsmanship, and heritage, where every drop of whisky tells a story. The history of Scottish whisky traces back centuries, with the earliest records dating back to the 15th century. Whisky production initially started in monasteries, where monks distilled spirits for medicinal purposes. Over time, whisky production moved from monastic settings to farms and then to commercial distilleries. This transition marked the beginning of an industry that would become synonymous with Scotland. Scottish Whisky Market Was Valued At US$ 4.97 Bn In 2018, And It Is Expected To Reach US$ 7.89 Bn By The End Of 2027, Exhibiting A CAGR Of 5.3% During The Forecast Period (2019 To 2027). One of the defining characteristics of the Scottish Whisky Market is its adherence to traditional production methods. Scotch whisky is made from malted b
Read more

Monochloroacetic Acid (MCAA) Market Is Estimated To Witness High Growth Owing To Increasing Demand for Surfactants and Herbicides

Image
Monochloroacetic Acid (MCAA) Market The Monochloroacetic Acid (MCAA) Market is estimated to be valued at USD 676.52 Million in 2022 and is expected to exhibit a CAGR of 7.03% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: The Monochloroacetic Acid (MCAA) Market is driven by the increasing demand for surfactants and herbicides in several industries such as agriculture, pharmaceuticals, textiles, and personal care. MCAA is extensively used in the production of surfactants, herbicides, and carboxymethyl cellulose (CMC), which are essential in various applications. These applications include detergents, agrochemicals, pharmaceuticals, dyes, and cosmetics, among others. The versatile properties of MCAA, such as its ability to act as a raw material in the production of herbicides and surfactants, make it highly desirable in the market. Market Dynamics: The Monochloroacetic Acid (MCAA) Market is driven by two k
Read more