North America Construction Chemical Market Analysis and Forecast (2018-2028) – Segmentation by Geography, Product, and End User

North America Construction Chemical Market Analysis and Forecast (2018-2028) – Segmentation by Geography, Product, and End User

Executive Summary

The North America construction chemical market has experienced significant growth in recent years and is expected to continue its upward trajectory. The construction industry in North America has been witnessing steady growth over the years, driven by factors such as population growth, urbanization, infrastructure development, and residential and commercial construction projects. Construction chemicals play a crucial role in enhancing the performance, durability, and sustainability of construction materials and structures. The North America Construction Chemical market crossed USD 12.0 billion mark and grew at a CAGR of 1.7% from 2018 to 2022.

Rise in Green Construction Activity

Mexico is quickly embracing green, or environmentally friendly, construction practices, similar to other growing economies. The green building movement has gained support from the construction sector. In order to reduce expenses and gain from the health advantages associated with green and sustainable buildings, Mexico joined the World Green Building Council (WGBC) and is currently learning best practices from Europe, Canada, and the United States. The Mexican building sector also aspires to show other nations how to employ straightforward, reasonably priced methods learned from their own long-standing building practices to attain green building benefits.

Concrete Admixture Is Expected to Rise

The market for concrete additives is expected to reach more than USD 38 billion by 2024. The strong demand for concrete admixtures in the United States, combined with increased infrastructure spending in North America, will drive the market.

• In Licking County, Ohio, Bechtel plans to build Intel's USD 20 billion new semiconductor production facility in New Albany.
• Metrolinx is working on numerous massive projects at various levels in Ontario. The Eglinton Line, often known as Crosstown, is one of the ongoing projects with the highest cost, coming in at CAD 4.9 billion.
• The Mexican government has unveiled a private infrastructure plan totalling Peso 859 billion (USD 44.3 billion), which will fund 147 projects until 2024

Product Segmentation

By Products: Concrete Admixtures accounted for the industry's largest market share. In June 2022, Sika AG expanded the production of concrete admixtures in the United States of America. The market for asphalt additives is also expanding significantly, propelled by factors like rising infrastructure demand, technological improvements, and a growing interest in sustainable construction practices. The market for asphalt additives is expected to grow in the near future as demand for RAP in road building increases.

By End User: The North America Construction Chemical market by end user is divided into Residential, Commercial and Industrial. The majority of the share is held by the Residential sector followed by industrial and Commercial.

By 2023, residential building upgrades are anticipated to cost more than USD 205 billion annually in the United States. In Canada, Ontario projects worth 1.5 million new homes will be needed in the province over the next decade. All these factors will increase the share of the residential segment in the construction chemical market.

By Geography: The majority of share is held by the United States. By 2024, US construction spending is anticipated to increase nominally by 3.7% yearly. Construction increased in 2022 across all four of the major areas which accelerated the demand for construction chemicals. With a 24.4% increase, the South saw the fastest growth in new construction. Texas was the site of several significant projects in 2022, including one that supported a brand-new manufacturing structure.

Future Outlook

The recent recovery of the construction industry in some of the parts of North America is driving significant demand for construction chemicals such as concrete and cement admixtures, asphalt modifiers, adhesives and sealants, waterproofing chemicals, and protective coatings.

It is anticipated that the increase in building activities would hasten the expansion of construction chemicals. US construction expenditures are forecast to increase by 3.7% yearly in nominal terms through 2024. 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.

Report Synopsis

The report “North America Construction Chemical Market – Analysis, Trend, and Forecast (2018-2028) – Segmentation by Geography, Product, and End User" by Makreo Research examines the Construction Chemical market in particular. The report provides a complete examination of both historical and current industry trends as it assesses the market for construction chemicals on the basis of product, end-user, and geographic area. The United States, Canada, and Mexico are all included in the study's geographical analysis of the North American market. The report contains a good balance of macroeconomic and microeconomic analysis, both qualitative and quantitative. The changes in macroeconomic variables have been taken into consideration while carefully evaluating the future.

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

By Geography

United States

Canada

Mexico

By Product Segmentation

Concrete Admixtures

Asphalts Additives

Waterproofing Chemicals

Adhesives & Sealants

Others

By End User

Residential

Commercial

Industrial

Key Questions Answered

1. How big is the North America Construction Chemical market?

2. At what rate North America Construction Chemical market revenue grew in the past and what is the present state of the industry?

3. How North America Construction Chemical Market is segmented and what are the dominating and rapidly evolving segments?

4. What are the major driving factors accounted for a push to the industry in the past?

5. Which region dominates the North America Construction Chemical Market?

6. What is the present pricing scenario of North America Construction Chemical?

7. What is the market share of North America in Global Construction Chemical Market?

8. How is the construction sector performing?

9. What is the expected future of the North America Construction Chemical market?

10. What are the factor to drive the North America construction chemical market in future?