Construction Chemical Market Report and Forecast (2018-2028)

Construction Chemical Market Report and Forecast (2018-2028)

Executive Summary

The value of the Global Construction Chemical market has increased by 2.2% CAGR from 2018 to 2022. Massive demand for construction chemicals was noticed in 2022 by megaprojects including The Great Man Made River Mega Project (Libya), Chuo Shinkansen High Speed Railway Project (Japan), Jubail II (Saudi Arabia), Dubailand (Dubai), etc.

The demand for construction chemicals is expected to increase in the coming years due to the increased global building activity. Green buildings are expected to provide major global investment possibilities over the next ten years, with a projected value of USD 24.7 trillion by 2030, according to the International Finance Corporation (IFC).

For China the main destinations for the export of Silicones were South Korea, the US, Vietnam, and Chinese Taipei, while for the period 2020 and 2021, the fastest growing markets for exports were South Korea, the US, and Netherlands. The main destinations for the import of Silicones were Japan, the US, Germany, South Korea, and Chinese Taipei with the fastest-growing import markets being Japan, the US and South Korea

Russia-Ukraine Conflicts and the Impact on the Construction Chemicals Industry

Due to decreased construction and infrastructure development activity in the energy, industrial, and other non-residential construction sectors, the ongoing war between Russia and Ukraine has had a negative effect on the worldwide construction chemicals industry. Market expansion has been hampered by difficulties brought on by disruptions in the supply chain, worries about the security of the energy supply, diminished competition, and fewer product introductions. However, the market is exhibiting indications of expansion, and top corporations have released upbeat financial reports.

Product Segmentation

By Product Type: The concrete admixtures segment account for the largest share in the market as they are used during the first stage of construction. Concrete admixtures accounted for more than two-fifths of the revenue produced by the global Construction Chemicals market in 2022, and this category is anticipated to grow at the fastest rate throughout the course of the forecast period.

By Region: Asia accounts for almost one fourth of all construction chemical sales, followed by Europe, North America, the Middle East, and Africa. By 2030, China, the US, and India will account for 57% of all worldwide growth in the engineering and construction sectors. India is expected to spend a staggering USD13 trillion on building and infrastructure projects by 2030, making it the country with the fastest-growing construction sector in the Asia Pacific region (increasing at a rate almost twice that of China). Other countries include the Middle East area, Japan, Canada, and Mexico. Nigeria's building industry is expected to increase by 160% by 2030, making it the sixth most populated nation in the world.

North America: The rapid expansion of the construction industry in the United States and Canada makes North America ranks third in the world for the sale of concrete admixtures. The recent expansion of the construction industry in the area has been greatly aided by various incentives provided by the governments of the separate nations to develop the infrastructure sector, along with the rising residential sector.

Among the four major US regions, the South will continue to dominate construction activity through 2024. Construction spending in the West is projected to slightly outpace expenditures in the Midwest, Northeast, and South due to faster population and GDP growth.

Asia Pacific: China is the market leader for construction chemicals in the Asia-Pacific region, with India having a small share of the market. However, as more people become aware of the advantages of construction chemicals, demand for these products is growing in India.

More than one third of the world's construction chemical sales are made in China, which is also the market with the highest volume. Due to rising domestic demand for homes and businesses, China is predicted to maintain its dominance. Other countries which are expected to boost the global market are India, Brazil, Russia and Australia.

Europe: The major contributors to the European construction chemical market are Germany, France, Italy, the UK, Russia, and the rest of Europe. A growing population in Europe drove constant growth in the construction industry. Innovations in remodelling industry trends, such as remodelling for accessibility, style mashing up, customizations, and technology integrations, are likely to boost business growth.

Significant infrastructure investment strategies have been published by the European Commission with the goal of generating up to EUR 300 billion in investments in global development by 2027. Eleven strategic transport corridors have been identified for improved and more environmentally friendly connectivity between the EU and Africa as part of the EUR 150 billion "Global Gateway Investment Plan for Africa," which was announced during the EU-Africa Summit in February 2022. These construction activities are helping in increasing the share of construction chemicals in the global market.

Middle East & Africa Region: One of the fastest-growing markets in the world is for infrastructure in the Middle East. An estimated USD 1.5 trillion was invested in the industry between 2010 and 2020, reflecting a ten-year increase in infrastructure spending in the area. A rise in government expenditure on infrastructure has been seen in Middle Eastern nations as a result of population expansion, rapid urbanisation, and economic diversification. The creation of industrial cities, the growth of intra-regional transportation networks, and civil and commercial building are the three major Mega Trends driving the chemical industry forward. Some of the well-known industrial cities luring sizable investments from major chemical firms are Jubail and Yanbu in the KSA, Mesaieed in Qatar, Al-Ruwais in the UAE, Asaluyeh in Iran, and Shuaiba in Kuwait.

Scope of the Study

The study conducted by Makreo Research on the “Construction Chemical Market Report and Forecast (2018-2028): by Product Type (Concrete Admixtures, Asphalt Additives, Waterproofing Chemicals, Adhesives & Sealants, and Others), by Geography (North America, Europe, Asia-Pacific and Middle East & Africa) and by End Users (Residential, Industrial, Commercial, Infrastructural, and Others)" focuses on the specific sector of construction chemicals. Also research has been deep dived into geographical area which include major contributing countries in the region. The market has witnessed many shifts in recent past after the COVID-19 outburst & Russia- Ukraine war that hampered the market. The report provides a comprehensive analysis of the market, encompassing a wide range of factors. The report takes into account both qualitative and quantitative factors, indicating a well-rounded approach to analysis.

The inclusion of both qualitative and quantitative factors in the study ensures that readers gain a more complete understanding of the Global Construction Chemical Market. It goes beyond mere numbers and incorporates insights into consumer behavior, industry trends, and market dynamics. Moreover, the report's focus on past and present performance, as well as potential growth opportunities in the future, enables readers to identify key areas of interest and investment.

The competition has also been carefully examined in terms of significant M&A transactions that have occurred in the market and recent financial infusions.

Segmentation Covered: The report examines the construction chemical in terms of market revenue and further breakdown into market segmentation:

By Region

North America

The United States

Canada

Mexico

Europe

Germany

UK

France

Asia Pacific

China

India

Japan

Australia

Middle East and Africa

By Product Segmentation

Concrete Admixtures

Asphalts Additives

Waterproofing Chemical

Adhesives & Sealant

Others

By End User

Residential

Industrial

Commercial

Infrastructural

Key Questions Answered

How has the performance of the Global economy been in the past, and what is the expected growth outlook for the future?

What has been the past performance of the Global Construction Chemical, and what is the current scenario?

What is the current growth rate of Global Construction Chemical Market, and what can be expected in the future?

What is the performance of the major region in the Global Construction chemical market?

Which region dominates the Global construction chemical market?

What is the present pricing scenario of Chemicals in Global Construction Chemical?

What is the expected future of the Global Construction Chemical market?

What are the factor to drive the Global Construction chemical market in future?

Who are the key players in the market, and what is their current performance status?

What are the key business highlights of these players?

What is the present financial situation of the players, and what is their market share?