Construction chemicals market size worth $ 56,173.87M, globally, by 2028 at 6.13% CAGR: Verified Market Research ®
The increased implementation of growing infrastructural developments and rising demand is the crucial aspect of the rise in the market revenue of the construction chemicals market as well as the latest technological advancements owing to rising building and construction, and other infrastructure activities will foster market growth.
Verified Market Research recently published a report, “Construction Chemicals Market” By Type (Concrete Admixture, Construction Adhesive, Construction Sealant), By Application (Residential, Infrastructure, Industrial), and By Geography. According to Verified Market Research, the Global Construction Chemicals Market size was valued at USD 37,045.34 Million in 2020 and is projected to reach USD 56,173.87 Million by 2028, growing at a CAGR of 6.13% from 2021 to 2028.
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Browse in-depth TOC on “Construction Chemicals Market”
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Global Construction Chemicals Market Overview
Construction chemicals are used in construction works as chemical compounds. They are essentially used to expedite up the process and add more sustainability and strength to the structures. The use of construction chemicals in different building materials during the construction work enhances workability, performance, adds functionality, and preserves the basic or customized elements of a structure. These chemicals are the most crucial element of any chemical industry. Construction chemicals have changed the milieus of the entire construction industry. Their application has improved the quality of building materials and is hence used extensively in construction projects to offer sustainability.
Across the globe, cities are introducing initiatives aimed at improving infrastructure. Around 2050 more than two-thirds of the overall population in the world is forecasted to be living in urban areas. This rapid increase would mainly be observed in developing countries. Besides, regions like Africa and Asia are still comparatively less urbanized than other regions and hence are estimated to have the fastest urban growth rates. Africa’s urban population is predicted to jump from 40 percent today to 56 percent by 2050, whereas Asia’s from nearly 48 percent to 64 percent. The regions China and India are to be held as the key contributors for Asia with absolute disposable income growth owing to greater urbanization, strong economic growth, and increasing population. The increase in per capita disposal income and improved standard of living shall raise the overall market growth.
However, the increase in producer prices for construction materials over the past year has considerably exceeded the contractor’s ability to charge more for projects. This gap indicates that the contractors are being caught with huge costs that they did not anticipate and cannot pass on. This thereby restricts the market growth.
The major players in the market are Dow Chemical Company, BASF SE, Henkel Ag & Co. KGAA, Sika AG, Akzonobel Chemicals AG, Bostik Limited, Fosroc International, Arkema SA, Ashland Inc., RPM International Inc, among others.
Verified Market Research has segmented the Global Construction Chemicals Market On the basis of Type, Application, and Geography.
- Construction Chemicals Market, By Type
- Concrete Admixtures
- Construction Adhesive
- Construction Sealant
- Flame Retardant
- Construction Chemicals Market, By Application
- Repair Structures
- Construction Chemicals Market by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
- North America
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