Categories: Market Research

Construction Chemicals Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Construction Chemicals Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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https://www.thebusinessresearchcompany.com/report/construction-chemicals-global-market-report

According to The Business Research Company’s Construction Chemicals Global Market Report 2024, The construction chemicals market size has grown strongly in recent years. It will grow from $48.96 billion in 2023 to $53.73 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to infrastructure development, durability requirements, concrete admixtures, waterproofing solutions, repair and restoration projects, advancements in material science.

The construction chemicals market size is expected to see strong growth in the next few years. It will grow to $77.77 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to sustainable construction practices, energy-efficient building solutions, focus on safety and resilience, green building certifications, expansion of residential construction. Major trends in the forecast period include innovation in self-healing materials, adhesives and sealants for efficient construction, corrosion inhibitors in infrastructure projects, advanced flooring solutions, shotcrete and gunite technologies.

The increasing demand in construction significantly contributes to the growth of the construction chemicals market. Construction is the process of building, altering, repairing, remodeling, improving, or demolishing any structures. Construction chemicals help in the elimination of abrasions and the strengthening of bonds, extending the life of buildings. For instance, according to the FMI Corporation, a US-based management consulting company, in comparison to 2021, engineering and construction investment will increase by 5% in 2022. Major countries contributing to this growth are China, India, and the USA. Therefore, the increase in construction is expected to propel the construction chemicals market growth.

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The construction chemicals market covered in this report is segmented –

1) By Type: Concrete Admixtures, Waterproofing and Roofing, Repair, Flooring, Sealants and Adhesives, Other Types

2) By End-User: Commercial, Industrial, Infrastructure and Public Places, Residential, Public Space

Major companies in the construction chemicals market are focused on developing innovative construction chemicals, such as eco-friendly dispersion, to meet the increasing demand for eco-friendly products and to gain a competitive edge in the market. Eco-friendly dispersion is a sustainable solution, free of harmful elements, designed for various applications, including paints, to minimize environmental impact. For instance, in July 2022, Synthos, a Poland-based chemicals company, launched Synexil SAB 05, a new eco-friendly dispersion for producing construction chemicals, including paints for children’s rooms and other allergy-friendly applications. The product boasts UV resistance, low film formation temperature for solvent-free chemicals, and high scrub resistance. Meeting stringent low emission standards, it is ideal for white interior paint, ensuring minimal indoor air pollution. Free of harmful elements such as APEO, solvents, ammonia, and formaldehyde donors, Synexil SAB 05 aligns with Synthos’ commitment to safety, sustainability, and responsible production.

The construction chemicals market report table of contents includes: