Construction chemicals market is estimated to garner a revenue of ~USD 100 Billion by the end of 2033 by growing at a CAGR of ~7% By 2033

NEW YORK, UNITED STATE, January 5, 2023 /EINPresswire.com/ -- Global Construction Chemicals Market Key Insights

During the forecast period of 2023-2033, the global construction chemicals market is expected to reach an estimated value of ~USD 100 billion by 2033, by expanding at a CAGR of ~7%. The market further generated a revenue of ~USD 55 billion in the year 2022. Major key factors propelling the growth of construction chemicals market worldwide are growing construction activities and growing urban population globally.

Market Definition of Construction Chemicals

Construction chemicals are known for adding more strength and to make the infrastructure corrosion free. Further there has been growing investment made in construction industry which is estimated to boost the market growth. A bill to create the National Bank for Financing Infrastructure and Development (NaBFID), a development finance organization with a budget of about USD 3 billion, was approved by the Indian Parliament in March 2021.

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Global Construction Chemicals Market: Growth Drivers

The growth of the global construction chemicals market can majorly be attributed to the announcement of several advanced products by the key players operating in the market. For instance, The Dow Chemical Company announced a series of incremental methyl cellulose capacity investments to assist construction dry mix clients secure a consistent supply of essential additives for this booming market. These capacity additions show the company’s dedication to the dry mix sector and are a part of a multi-phase investment plan for construction chemicals. On the other hand, the market growth can also be attributed to the several construction contracts occurring in the field of construction chemicals. For instance, Sika AG and MBCC Group (former BASF Construction Chemicals) signed a binding contract. Regulations must approve the transaction before it may be completed. Sika’s proposed acquisition of MBCC Group will be thoroughly investigated (Phase 2) by the UK Competition and Markets Authority (CMA).

The global construction chemicals market is also estimated to grow majorly on account of the following:

Increase in Number of Residential Projects Across the Globe
Growing Population
Robust Surge in Remodeling
Surge in Chemical Industry
Global Construction Chemicals Market: Restraining Factor

There are adverse effect of chemicals on health, and rise in market volatility in the market. Hence, these factors are expected to be the major hindrance for the growth of the global construction chemicals market during the forecast period.

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Global Construction Chemicals Market Segmentation

By Application (Residential, and Non-Residential)
The non-residential segment, amongst all the other segments, is anticipated to garner the largest revenue by the end of 2033. The growth of the segment can be attributed to the rising awareness of the global population toward climate change. As of 2020, the rate of cardboard recycling was estimated to be around 85%.

By Type (Admixtures, Flooring, Waterproofing, and Repair & Rehabilitation)
By Region
The Asia Pacific construction chemicals market is anticipated to hold the largest market share by the end of 2033 among the market in all the other regions. Growing population in the region is one of the major factors anticipated to drive the growth of the market in the Asia Pacific during the forecast period. For instance, around 4.3 billion people live in the Asia and Pacific region, which also contains the world’s two most populous nations, China and India. This region is home to 60% of the world’s population.

The market research report on global construction chemicals also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).

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Key Market Players Featured in the Global Construction Chemicals Market

Some of the key players of the global construction chemicals market are GCP Applied Technologies Inc., SIKA AG, The DOW Chemical Company, RPM International Inc., Ashland Inc., MAPEI S.p.A, Akzo Nobel NV, Arkema, Fosroc, Inc., Pidilite Industries, and others.

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