The construction industry is witnessing a surge in activities post the pandemic, and this has resulted in an increased demand for materials associated with infrastructure development. One such material is construction chemicals, which are getting substantial attention from companies involved in construction, be it private or public. The market valuation of construction chemicals is in line to reach a staggering USD 48,209.4 million as of 2024.
The construction chemical market is expected to grow at a modest CAGR of 5.20% through 2034, owing to the adoption of these chemicals in residential settings. The mechanization of the construction sector has also led to the construction of numerous roads, dams, buildings, shopping malls, and other structures in emerging economies like India, South Korea, Brazil, Thailand, and others. This is why, there is an excellent demand for construction chemicals, which is the reason for the market valuation to reach an expected amount of USD 79,548.1 million by the end of 2034.
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The increasing demand for construction chemicals can be attributed to the need for sustainable infrastructure development. They also help in reducing the carbon footprint of the construction process, thereby promoting environmentally friendly construction practices. With the construction industry expected to grow significantly in the coming years, the demand for construction chemicals is likely to remain strong, making it a lucrative market for investors.
“The construction sector is significantly making a comeback in recent years. Companies involved in the construction chemical market must recognize this trend and should seize the opportunity to capitalize on the industry’s growth”, opines an FMI analyst.
Key Takeaways from the Market Study
- The concrete admixture segment dominates the global construction chemical market with an expected share of 62.70% in 2024.
- Based on application, the residential segment leads the construction chemical market with an expected share of 41.50% in 2024.
- The construction chemical market in India is anticipated to grow at a CAGR of 10.72% through 2034.
- The construction chemical market in China is estimated to rise at 8.04% CAGR through 2034.
- The construction chemical market in Spain has the potential to increase at 5.36% CAGR through 2034.
- The French construction chemical market is predicted to rise by 5.03% CAGR through 2034.
- The construction chemical market in Italy is in line to grow at a CAGR of 4.69% through 2034.
Competitive Landscape
The construction chemical market is highly competitive with several manufacturers and suppliers catering to the needs of real estate firms.
- Established players in the market have a strong foothold, owing to their prolonged presence and experience in the industry.
- Companies in the market are actively collaborating and merging to leverage each other’s expertise and expand their market share.
- Prominent players in the market include Sika AG, BASF SE, Dow Chemical Company, Henkel AG & Co. KGaA, RPM International Inc., Fosroc International Limited, and MAPEI Corporation.
Recent Developments:
- In December 2023, Saint-Gobain acquired a majority stake in IMPTEK Chova del Ecuador to expand its waterproofing solutions in Latin America.
- Chembond Chemicals underwent a restructuring plan in December 2023, leading to a 12.72% rise in shares.
- In December 2023, Saint-Gobain acquired Menkol Industries to reinforce its position in the Indian market and bolster its Construction Chemicals segment.
- Magicrete completed a mass housing project in Ranchi in March 2024, constructing over 1,000 apartments using their 3D modular precast concrete system.
- In January 2024, SCCL and Dyno Nobel signed an MoU for a new chemical facility in Ras Al Khair, aiming to produce nitric acid and ammonium nitrate.
- Vink Chemicals commenced construction on a new production facility in Schwerin in April 2024, creating 45 full-time jobs and enhancing supply chains.
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Key Companies in the Construction Chemical Industry
- Sika AG
- BASF SE
- Dow Chemical Company
- Henkel AG & Co. KGaA
- RPM International Inc.
- Fosroc International Limited
- MAPEI Corporation
- Arkema Group
- R. Grace & Co.
- GCP Applied Technologies Inc.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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