by Construction chemicals are specialty products used in construction activities for various applications such as flooring, wall claddings, and other exterior and interior design aspects of commercial and residential buildings. Flooring chemicals help improve aesthetics and durability of floorings by preventing cracks, while concrete admixtures accelerate curing and enhance compressive strength of concrete structures.
The global Construction Chemicals Market is estimated to be valued at US$ 91.95 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing infrastructure development projects across both developed and developing economies are fueling the demand for construction chemicals. Governments around the world are investing heavily in building roads, bridges, airports, and commercial buildings to drive economic growth. Mega infrastructure projects such as high-speed rail networks, smart cities, and stadiums are expected to augment the consumption of construction chemicals over the coming years. It is estimated that infrastructure spending worldwide will reach over US$ 9 trillion per year by 2040. This rising investment in infrastructure development is propelling the construction chemicals market forward.
SWOT Analysis
Strength: Construction chemicals help increase the lifetime of infrastructure and reduce maintenance costs. They enhance the durability and performance of structures.
Weakness: Fluctuating raw material prices can increase the overall costs. Stringent environmental regulations regarding the use of certain chemicals may limit their applications.
Opportunity: Growing construction activities in developing countries driven by rapid urbanization provide new opportunities. Increasing spent on infrastructure development projects worldwide will boost demand.
Threats: Availability of alternative green materials may pose a threat. Economic slowdowns can negatively impact the industry.
Key Takeaways
The Global Construction Chemicals Market Size is expected to witness high growth. The global Construction Chemicals Market is estimated to be valued at US$ 91.95 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 to 2031.
Asia Pacific region currently dominates and is estimated to maintain its leading position during the forecast period. Factors such as rapid urbanization, growth in infrastructure development, and government initiatives will drive the regional market.
Key players operating in the construction chemicals market are 3M Company, Dentsply Sirona, Danaher Corporation, Mitsui Chemicals, Inc., Institut Straumann AG, Septodont Holding, Ivoclar Vivadent AG, Coltene Holding AG, GC Corporation, and Zimmer Biomet Holdings, Inc., among others. The market leaders are focusing on product innovation and capacity expansion strategies to strengthen their foothold. Partnerships with public authorities is another area of focus to gain orders for infrastructure development contracts.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
