Construction Chemicals Market Insights, Key Players, Growth Drivers and Future Scope

NEW YORK - Feb. 24, 2021 - PRLog -- Key factors such as the rapid industrialization and urbanization and surging awareness regarding green buildings will drive the construction chemicals market at a CAGR of 6.5% during the forecast period (2018–2023). At this rate, the market value will rise from $55,111.6 million in 2017 to $80,025.4 million by 2023. A range of chemicals are added to concrete, cement, and other construction materials to increase the strength of the final mixture and keep everything intact in the fact of strong winds and earthquakes. Due to these features, high volumes of specialty chemicals are used in infrastructure repair activities.

Moreover, the growing focus on green buildings will fuel the demand for construction chemicals. The increasing consciousness regarding energy conservation is primarily driving the consumption of eco-friendly variants of construction chemicals. For example, the Qatar Green Building Council (QGBC) is focused on promoting green buildings and sustainability in Qatar. Green construction chemicals are being applied to protect buildings against environmental hazards and improve their overall durability, while having a lower negative impact on the environment. For instance, these chemicals reduce the requirement for water and cement, which can improve the environmental prospects significantly.

Furthermore, the APAC construction chemicals market (https://www.psmarketresearch.com/market-analysis/construc...) will exhibit the fastest growth during the forecast period, driven by the escalating need for construction chemicals in the emerging economies of India and China. China has emerged as the construction capital of the world due to urban development in numerous major clusters, including the Pearl River Delta, Yangtze River Delta, and Beijing–Tianjin–Hebei. Moreover, the heavy government investments for such large-scale infrastructure development, including of establishment smart cities, in China will fuel the demand for construction chemicals in the foreseeable future.

Thus, the expansion of the residential real estate sector and heavy investments in infrastructure development are leading to the high-volume consumption of construction chemicals.