Construction Chemicals Global Market Report 2023
Major players in the construction chemicals market are Imperial Brands plc, Arkema S.A., Dow Chemical Company, Fosroc International Ltd., Mapei S.p.A, RPM International Inc., Sika AG, Henkel AG & Co. KGaA, Ashland Global Specialty Chemicals Inc.
New York, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Construction Chemicals Global Market Report 2023" - https://www.reportlinker.com/p06290054/?utm_source=GNW
, Pidilite Industries Ltd., W. R. Grace and Co., CICO Group, Akzo Nobel N.V., and 3M Company.
The global construction chemicals market grew from $44.73 billion in 2022 to $49.15 billion in 2023 at a compound annual growth rate (CAGR) of 9.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The construction chemicals market is expected to grow to $67.52 billion in 2027 at a CAGR of 8.3%.
The construction chemicals market consists of sales of water repellants and concrete curing compound.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The construction chemicals are chemical compounds that are utilized in the creation of buildings.Construction chemicals are chemical compositions that are employed with cement, concrete, or other construction components to bind them together during construction.
They are essentially used to speed up the process and add more sustainability and strength to the structures.
Asia-Pacific was the largest region in the construction chemicals market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the construction chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of construction chemicals are concrete admixtures, waterproofing and roofing, repair, flooring, sealants and adhesives, and others.Concrete admixtures are natural or manufactured chemicals or additives added during concrete mixing to enhance specific properties of the fresh or hardened concrete, such as workability, durability, or early and final strength.
The different sectors include commercial, industrial, infrastructure, residential, and public spaces.
The increasing demand in construction significantly contributes to the growth of the construction chemicals market.Construction is the process of building, altering, repairing, remodeling, improving, or demolishing any structures.
Construction chemicals help in the elimination of abrasions and the strengthening of bonds, extending the life of buildings.For instance, according to the FMI Corporation, a US-based management consulting company, in comparison to 2021, engineering and construction investment will increase by 5% in 2022.
Major countries contributing to this growth are China, India, and the USA. Therefore, the increase in construction is expected to propel the growth of the construction chemicals market.
Strategic partnerships have emerged as a key trend gaining popularity in the construction chemicals market.Major companies operating in the construction chemicals sector are focused on partnerships to strengthen their position.
For instance, in January 2021, Nippon Paint, a Japan-based paint manufacturer, partnered with Choksey Chemicals, an Indian manufacturer of construction chemicals.Through this partnership, Choksey Chemicals will manufacture and supply waterproofing and sealant grades for Nippon Paint in India.
Furthermore, in May 2022, Pidilite Industries Limited, an Indian-based adhesives manufacturing company partnered with GCP Applied Technologies, a US-based provider of construction products. With the partnership, Pidilite will provide high-performance waterproofing solutions for difficult sites with high temperature variations and water tables, under the brand Dr.Fixit.
In October 2020, Lone Star Funds, a US-based private equity firm, acquired BASF Construction Chemicals business for an undisclosed amount.With this acquisition, Lonestar expands its portfolio in the construction chemical business and will strive for the future success of the business.
BASF SE is a Germany-based construction chemicals company.
The countries covered in the construction chemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The construction chemicals market research report is one of a series of new reports that provides construction chemicals market statistics, including construction chemicals industry global market size, regional shares, competitors with a construction chemicals market share, detailed construction chemicals market segments, market trends and opportunities, and any further data you may need to thrive in the construction chemicals industry. This construction chemicals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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