United States Construction Chemicals Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The US construction chemicals market was estimated to value at USD 10,140 million in 2020, and it is expected to register a CAGR of around 6% during the forecast period.
The construction industry is one of the industries badly impacted by the COVID-19 pandemic. Because of a lack of funds, labor shortage, and lockdown regulations, many projects were halted in 2020. Due to a ban on inter-state travel, an exodus of migrant workers, also known as informal sector workers, wreaked havoc on the supply chain. This caused less consumption of construction materials and decreased demand and supply. Owing to all these factors, the construction chemicals market is hindered by the impact of the COVID-19 pandemic.
Key HighlightsThe US construction chemicals market is partly consolidated, with the top five companies occupying a share of 45%-47%. The major players in the market studied include MBCC Group, Sika AG, Dow, RPM International Inc., and Mapei SpA.
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