The Construction Chemicals Market size is projected to reach US$ 88.2 billion by 2031 from US$ 53.4 billion in 2023. The market is expected to register a CAGR of 5.8% in 2023–2031. The rising demand for green buildings is likely to remain a key Construction Chemicals Market trend.
The construction chemicals enhance the workability, functionality, performance, durability, and chemical resistance of the construction materials. The construction industry across the globe is rapidly growing. Further, European countries are creating and strengthening their infrastructure by enacting reforms and legislation, which drives the growth of the real estate sector. In North America, the construction industry is one of the major contributors to the region's economy. As per Associated General Contractors of America (AGC), the US construction industry constructs structures worth US$ 1.8 trillion each year. As per data published by India Brand Equity Foundation, India is planning, to spend US$ 1.4 trillion on infrastructure projects, to ensure sustainable development in the country. Hence, the strong growth of the construction industry in developing countries is driving the construction chemicals market.
Construction chemicals are chemical formulations utilized with masonry materials, cement, concrete and other construction materials during the time of construction to hold the materials together.
Construction chemicals play a vital role in the residential sector. The governments and regulatory authorities in the Asia Pacific are focusing on infrastructure investment. In India, growing industrialization, increasing population, growing middle-class income, and increasing infrastructure development is responsible for the growth in construction activities. As per the data published by the National Investment Promotion & Facilitation Agency (India), the Indian construction industry is projected to reach US$ 1.4 trillion by 2025. Moreover, the Government of India initiatives such as Housing for All, Smart Cities Mission, and Swachh Bharat Abhiyan are projected to boost the demand for building materials in India.
Ready-mix concrete (RMC) is concrete manufactured in a batch plant, as per specific job requirements, then delivered to the job site. Ready-mix concrete is beneficial where a small amount of concrete or intermittent placing of concrete is required. The advantages of ready-mix concrete makes it a more preferable and efficient alternative to site-mix concrete. Therefore, the development and adoption of ready-mix concrete offers lucrative opportunities for the construction chemicals market growth.
Key segments that contributed to the derivation of the Construction Chemicals Market analysis are product, mode of application, and crop type.
The geographic scope of the Construction Chemicals Market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America.
Asia Pacific has dominated the Construction Chemicals Market. The Asia Pacific is one of the leading markets for construction chemicals owing to the upsurge in construction activities. China and India are witnessing growth in urbanization, an increase in residential sector, which offer ample opportunities for key market players in the construction chemical market. Also, Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
The regional trends and factors influencing the Construction Chemicals Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Construction Chemicals Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 53.4 Billion |
| Market Size by 2031 | US$ 88.2 Billion |
| Global CAGR (2023 - 2031) | 5.8% |
| Historical Data | 2021-2022 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Construction Chemicals Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Construction Chemicals Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Construction Chemicals Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
The “Construction Chemicals Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: