News @ assochem

Construction Chemicals Market Set for Strong growth

Posted Date : 25-10-2022

 According to a recent industry analysis by Future Market Insights, the global construction chemicals market, estimated  at $54.85-bn in 2022, is projected to grow at a CAGR of 6.7% over the next ten years and reach $104.92- bn by 2023.

Numerous government initiatives around the world to promote infrastructure development, together with the growing residential sector, have significantly supported market expansion in the area.

Some of the highlights of the report include:

• According to application, the resident segment will hold the largest share during the forecast period.
• By product type, the market is mainly segmented into waterproofing chemicals, protective coatings, concrete admixtures, adhesives & sealants and asphalt additives. Concrete admixture accounted for 36% in 2021.
• Asia Pacific is expected to dominate the market in the next decade.
•  The need for maintaining, repairing, and enhancing the existing structures, particularly for residential and infrastructural developments, is a key driver for raising demand for costruction chemicals.
• Major players in the construction chemical industries are focussing on environment friendly and sustainable products for cool roof tratements, thermal insulation, overall building protection, polycarboxylate ether-based green admixtures and underground structure protection.

Source : Chemical Weekly October 11th edition pg no. 162