Global Construction chemicals Market Size Worth $67.61 Billion– Statistics and Analysis & forecast to 2024

The global construction chemicals market size is expected to reach USD 67.61 billion by 2024, according to a new report by Grand View Research, Inc. The global market is estimated to register a CAGR of 6.3% during the forecast period. Rising urbanization, coupled with various infrastructural developments are boosting market growth.
Construction chemicals are the chemical compounds used to modify the properties of the construction materials. These chemicals reduce the amount of water used in a construction. They play a crucial role in improving the overall performance of a building and non-building structures. These chemicals can be categorized into different product segments including concrete admixtures, construction adhesives, construction sealants, protective coatings, and waterproofing chemicals.
Major companies in the market include BASF SE; Pidilite Industries Ltd.; FOSROC Chemicals India Pvt. Ltd.; Sika AG; W. R. Grace and Co.; Dow Chemical Co.; RPM International, Inc.; Arkema S.A.; and Mapei S.p.A.

 Browse Research Report On construction chemicals Market:
https://www.grandviewresearch.com/industry-analysis/construction-chemicals-market

The most important group of raw materials found in almost every construction chemical formulation are polymers. In many cases, the chemical producer, construction chemical manufacturer, and end-user work together on the formulation to get the desired product. Most of the key players in this market spend around 3% of their total expenditure on R&D activities every year. BASF SE, The Dow Chemical Company, Bayer Material Science, Wacker Chemie AG, and SABIC are some of the major raw material suppliers for these chemicals.

Further key findings from the study suggest:
  • The global market for construction chemicals stood at 33,135 kilo tons in 2015 and is projected to expand at a volume-based CAGR of 5.2% over the forecast period
  • The residential segment accounted for 33.0% of the total market volume in 2015
  • Sluggish growth in the European construction sector due to rising utility expenditure is expected to limit the market development in the region
Non-residential and infrastructure end-use segment is expected to have high penetration due to rapid urbanization in emerging economies. On the other hand, residential segment is expected to witness the fastest growth rate of 6.6% durign the forecast years, in terms of revenue. Construction chemicals are used in new buildings, as well as for repair and rehabilitation of the old buildings. They reduce the water and cement content in the concrete and impart chemical properties such as cross-linking, which result in increased strength of the mortar.
The global market is highly competitive with few leading companies holding the majority of the market share. Due to stringent environmental regulations, these companies are focusing on the development of new alternatives such as bio-based construction chemicals.

Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-construction-chemicals-market

Grand View Research has segmented the global construction chemicals market on the basis of product, end use:
Construction Chemicals Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
  • Concrete Admixtures
  • Concrete Adhesives
  • Concrete Sealants
  • Protective Coatings
Construction Chemicals End-use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
  • Residential
  • Non-residential & Infrastructure
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Comments

Post a Comment

Popular posts from this blog

Virtual Reality Headset Market Growth On The Basis Of Type, Application, Region & Forecast To 2030: Grand View Research Inc.

Image
  San Francisco, 20 June 2024:  The Report Virtual Reality Headset Market Size, Share & Trends Analysis Report By End-device (Low-end, Mid-range, High-end), By Product Type (Standalone, Smartphone-enabled), By Application, By Region, And Segments Forecasts, 2023 - 2030 The global virtual reality headset market size is expected to reach USD 59.63 billion by 2030, registering a CAGR of 30.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. The rapid penetration of smartphones along with the continuous advancements in virtual reality (VR) technology are expected to drive market growth. The rising product adoption in the education and healthcare sectors, mainly for teaching & training purposes, is further contributing to the growth of the market. The increasing product usage along with feature updates in devices for different applications across industries, especially during and after the period of the Covid-19 pandemic, is also driving the m...
Read more

Coconut Products Market Outlook On The Basis Of Product (Coconut Oil, Coconut Milk/Cream, Coconut Water), By Application (Cosmetics, F&B), By Region, And Segment Forecasts, 2023 - 2030

Image
  San Francisco, 18 June 2024:  The Report Coconut Products Market Size, Share & Trends Analysis Report By Product (Coconut Oil, Coconut Milk/Cream, Coconut Water), By Application (Cosmetics, F&B), By Region, And Segment Forecasts, 2023 - 2030 The global coconut products market size is expected to reach USD 38.58 billion by 2030, expanding at 8.4% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc.Coconut milk products are growing in popularity across the globe as a result of growing consumer concern over animal health and the rise in the number of people who cannot tolerate lactose. Increased awareness, the impact of the pandemic, expanding product portfolios, and increased research & development are factors propelling the global coconut products industry. Moreover, coconut oil is increasingly being used by cosmetic industries to create soaps & oils for hair and skin care. Due to its moisturizing properties, coconut oil-based p...
Read more

Baby Food Packaging Market Growth On The Basis Of Type, Application, Region & Forecast To 2025: Grand View Research Inc.

Image
  San Francisco, 10 June 2024:  The Report Baby Food Packaging Market Size, Share & Trends Analysis Report By Product (Metal, Glass, Rigid Plastic, Liquid Cartons, Paperboard Packaging), By Application (Prepared, Dried, Milk Formula) By Region, And Segment Forecasts, 2019 - 2025 The global baby food packaging market size is expected to reach USD 81.31 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 7.0% from 2019 to 2025. Growing demand for baby food products as a result of increasing number of working individuals is expected to remain a prominent growth-driving factor. Furthermore, increasing number of nuclear families in developing countries including Mexico, Brazil, China, and India is expected to have a positive impact on the market. Rising usage of paperboards and rigid plastic as alternative packaging materials to the conventional glass and metal is expected to drive these product segments ove...
Read more