Construction Chemicals Market Driven By Infrastructure Growth
The Construction chemicals market is estimated to be valued at US$ 49.9 Bn in 2022 and is expected to exhibit a CAGR of 6% over the forecast period 2023 to 2032, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Construction chemicals refer to chemicals used in construction industry for different construction activities. These chemicals are commonly used as admixtures, flooring, repairing and waterproofing, among others. Some key application areas include concrete admixtures, protective coatings, adhesives & sealants, asphalt modifiers etc. With rising infrastructural projects and construction spending globally, the demand for construction chemicals is anticipated to grow substantially over the coming years.
Regional analysis
Asia Pacific dominates the global construction chemicals market and is expected to continue its lead, growing at over 7% CAGR till 2032. Rapid urbanization and investments in infrastructure like roads, railways etc in China, India are major demand drivers in the region. Europe and North America are also significant markets aided by high construction spending in countries like US, Germany etc.
Key players
Key players operating in the construction chemicals market are Pidilite Industries, BASF SE, RPM International Inc., Sika A.G., The Dow Chemical Company, Fosroc International, Arkema S.A., Ashland Inc., Mapei S.p.A, and W.R. Grace. These players are focusing on development of green and sustainable products to capitalize on changing environmental regulations.
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