Construction Chemicals Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Concrete Admixtures, Asphalt Additives, Waterproofing Chemicals, Adhesives and Sealants, Flame Retardants, and Others) and Application (Residential, Commercia

Construction Chemicals Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Concrete Admixtures, Asphalt Additives, Waterproofing Chemicals, Adhesives and Sealants, Flame Retardants, and Others) and Application (Residential, Commercial, Industrial, Institutional, and Infrastructure)

The construction chemicals market is expected to grow from US$ 50,952.86 million in 2022 to US$ 71,449.75 million by 2028; it is estimated to grow at a CAGR of 5.8% from 2022 to 2028.

Construction chemicals are specialty products crucial for sustainable infrastructure and energy conservation in the construction industry. They are chemical formulations used with cement, concrete, and other construction materials at the time of construction to hold the construction materials together.

Based on application, the construction chemicals market is segmented into residential, commercial, industrial, institutional, and infrastructure. The residential segment holds the largest market share. Also, the market for this segment is expected to grow at the fastest pace during the forecast period. The expansion of the residential sector in countries, including China, India, Saudi Arabia, and the UAE, and the government support for the development of the sector drive the demand for construction chemicals. The Sakani program in Saudi Arabia was developed in 2017 by the Ministry of Housing and the Real Estate Development Fund with the aim of facilitating home ownership in the Saudi Arabia through the creation of new housing stock, allocating plots and homes to nationals, and financing their purchase. Thus, the increased initiatives and policies by the government of various countries encouraging the development of the residential construction sector is bolstering the constriction chemicals market growth.

Based on region, the construction chemicals market is primarily segmented into North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA). In 2021, Asia Pacific dominated the market. The growing construction industry and the rising implementation of government initiatives and policies to support the development of the industry fuel the market growth in the region. The 14th Five-Year Plan (2021-2025) period in China aims at adding 6.5 million government-subsidized rental homes in 40 key cities. Along with this, approx. 219,000 old residential communities built before the end of 2000 in urban areas will be renovated by 2025 to offer comfort to the residents. Increasing activities of infrastructure construction and the entry of major construction players in Asia Pacific propel the demand for construction chemicals.

Several industries, including the chemicals & materials industry, faced unprecedented challenges due to the COVID-19 pandemic. The shortage of raw materials and labor, shutdown of factories, and other operational difficulties induced by safety protocols adversely affected the construction chemicals market. However, vaccination drives have led to a rise in business activities worldwide. The economies are reviving their operations. Thus, the demand for construction chemicals is expected to rise globally in the coming years. The revival of the construction industry and the growing production of construction chemicals would bolster the construction chemicals market during the forecast period.

Polar Ice; Continental Carbonic Products Inc.; Sicgil India Limited.; Linde PLC; Construction Chemicals UK Ltd.; Construction Chemicals Corp; Reliant Construction Chemicals; CryoCab; Praxair Technology, Inc.; and ACP are among the leading players in the construction chemicals market. These companies are adopting strategies, such as mergers and acquisitions and product launches, to expand their geographic presence and consumer bases.

The overall construction chemicals market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants of this process include VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the construction chemicals market.

Reasons to buy

Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the global construction chemicals market, thereby allowing players to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to application.