Global Construction Chemicals Market to Reach US$ 66.8 Billion by 2032, Fueled by Rapid Growth in the Construction Industry

February 13, 2024 | Construction and Manufacturing

According to the latest report by IMARC Group, titled “Construction Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” the global construction chemicals market size reached US$ 41.7 Billion in 2023. Construction chemicals are specialized compounds and formulations used in the construction industry to enhance the performance, durability, and sustainability of buildings and infrastructure. They serve various purposes throughout the construction process, from the preparation of raw materials to the final finishing touches. Some common types of construction chemicals include concrete admixtures, waterproofing agents, adhesives, sealants, and coatings. Concrete admixtures, for example, are added to concrete mixtures to improve workability, reduce water content, and enhance strength and durability. Waterproofing agents are used to protect structures from moisture damage, while adhesives and sealants help bond building components and seal joints to prevent water and air infiltration. Coatings, on the other hand, provide protective layers on surfaces, resisting corrosion, UV radiation, and chemical exposure. At present, construction chemicals are gaining immense traction across the globe as they play crucial role in ensuring that modern buildings and infrastructure meet the stringent performance and longevity requirements of the construction industry.

Global Construction Chemicals Market Trends:

The increasing demand for specialized chemicals due to the rising construction activities worldwide, including residential, commercial, and infrastructure projects, represents the primary factor driving market growth. Additionally, rapid urbanization and population growth has augmented the need for durable and sustainable building solutions. Apart from this, the growing awareness and adoption of environmentally friendly construction practices and the implementation of stringent regulations promoting energy efficiency and safety are further propelling market expansion. Moreover, ongoing innovations in construction materials and the development of high-performance chemicals, such as superplasticizers and self-healing concrete, that enhance construction efficiency and quality have catalyzed market growth. Furthermore, the escalating demand for waterproofing chemicals and protective coatings has amplified the need to extend the lifespan of structures and minimize maintenance costs, thereby contributing to market growth. Other factors, including the heightened focus on infrastructure development and renovation projects, growing awareness of the importance of energy-efficient and sustainable construction, and rising demand for advanced construction chemicals, are also anticipated to drive the market further. Looking forward, the market value is projected to reach US$ 66.8 Billion by 2032, expanding at a CAGR of 5.3% during 2024-2032.

Market Summary:

  • Based on the type, the market has been divided into concrete admixtures, waterproofing and roofing, repair, flooring, sealants and adhesives, and others. At present, concrete admixtures account for the majority of the market share.
  • On the basis of the application, the market has been bifurcated into residential and non-residential.
  • Region-wise, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. Amongst these, Asia Pacific holds the leading position in the market.
  • The competitive landscape of the market has also been examined, with some of the key players being 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.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Type, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
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Global Construction Chemicals Market to Reach US$ 66.8 Billion by 2032, Fueled by Rapid Growth in the Construction Industry
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