The latest research study “Construction Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global construction chemicals market reached a value of US$ 36.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 53.37 Billion by 2027, exhibiting a CAGR of 6.20% during 2022-2027.
Construction chemicals are specialized chemical compounds mixed with cement, concrete and mortar to improve their existing properties and hold the construction material together. They are manufactured with natural and synthetic resins, waxes, and solvents and are available in resin, oil, and organic chemical-based variant. They also enhance heat reflectance, bond strength, moisture retention, and sound insulation properties of various materials. Owing to these properties, construction chemicals, such as concrete admixtures, adhesives, sealants, protective coatings, asphalt modifiers, and waterproofing agents, find extensive applications across the construction industry.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. The industry is segmented by size and region. The report provides an analysis of the key trends in each sub-segment of the market, along with forecasts at the global and regional level from 2022-2027. The report also includes competitive landscape of major key players in the industry along with emerging trends in the market.
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Global Construction Chemicals Market Trends and Drivers:
The market is primarily driven by the expanding construction industry across the globe. In addition, the rising adoption of ready-to-mix concrete (RMC) for constructing tunnels, roads, bridges, and dams is contributing to market growth. Besides this, construction contractors are widely utilizing concrete admixtures to improve the properties of hardened concrete, reduce construction costs, and ensure better quality during mixing, placing, curing, and transporting.
This, coupled with the introduction of innovative products such as the development of green cement manufactured utilizing sustainable materials, is also augmenting the market growth. Furthermore, the rising disposable incomes of consumers, the implementation of favorable government policies to promote infrastructural development, and the increasing repair and refurbishment activities are other factors creating a positive market outlook across the globe.
Construction Chemicals Market Report Scope
The report has been segmented the market into following categories:
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List of Major Key Players:
The major players in the market are 3M Company, ACC Limited (Holcim Group), Arkema S.A., BASF SE, Conmix Ltd, Dow Inc., Evonik Industries AG (RAG-Stiftung), GCP Applied Technologie Inc. (Standard Industries Inc.), Mapei S.p.A, Nouryon Holding B.V., Pidilite Industries Limited, RPM International Inc. and Sika AG.
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