Construction chemicals play a vital role in improving the efficiency and sustainability of infrastructure development. These chemicals are used in construction activities such as concrete admixtures, waterproofing chemicals, adhesives, sealants, protective coatings, asphalt additives, and flooring compounds. Construction chemicals enhance the durability and quality of structures while reducing material wastage. Key functions include water retention, workability improvement, strength enhancement, crack prevention, and fire & weather resistance. They help complete projects economically in less time while lowering environmental impact.
The Global Construction Chemicals Market is estimated to be valued at US$ 91.95 Mn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 To 2031.
Key Takeaways
Key players: Key players operating in the construction chemicals market are 3M Company,
Dentsply Sirona, Danaher Corporation, Mitsui Chemicals, Inc., Institut Straumann AG, Septodont Holding, Ivoclar Vivadent AG, Coltene Holding AG, GC Corporation, and Zimmer Biomet Holdings, Inc., among others.
Growing demand: Construction Chemicals Market demand is growing due to increasing demand from the infrastructure, residential, and non-residential sectors. Rapid urbanization and increasing spending on public and private construction projects are driving the market.
Global expansion: Leading manufacturers are expanding their production facilities and distributing networks globally especially in developing regions to tap the growing construction industries of Asia Pacific, Middle East, and South America.
Market key trends
One of the key trends in the construction chemicals market is the rising demand for green and sustainable products. Customers prefer chemicals that have lower VOC emissions, are manufactured using renewable resources, and can improve the overall energy efficiency of structures. Major players have started developing and marketing eco-friendly product ranges made from bio-based or recycled materials to align with the sustainability goals of the construction industry. This trend is expected to gain further momentum in the coming years.
Porter’s Analysis
Threat of new entrants: Low economies of scale and product differentiation in the construction chemicals market make the entry of new players difficult.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes and undifferentiated products.
Bargaining power of suppliers: The Construction Chemicals Market challenges and opportunities are shaped by the moderate bargaining power of suppliers due to the differentiated and specialized nature of raw materials.
Threat of new substitutes: Substitutes are available but switching costs are high.
Competitive rivalry: High due to the presence of numerous players.
Geographical Regions
Asia Pacific accounts for the largest share in the construction chemicals market in terms of value due to growth in industrialization and urbanization in major economies like China and India.
The construction chemicals market in Middle East and Africa is expected to grow at the fastest CAGR during the forecast period due to rising construction activities in countries such as Saudi Arabia, UAE, Qatar, and Kuwait supported by increasing oil and gas revenue in the region.
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About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
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