North America Construction Chemical Market: Rapid Growth and Sustainability Drive Expansion

North America Construction Chemical Market – Analysis, Trend, and Forecast (2018-2028) – Segmentation by Geography, Product, and End User
By: Makreo Research and Consulting
 
CALIFORNIA CITY, Calif. - July 20, 2023 - PRLog -- The North America construction chemical market has witnessed significant growth in recent years, driven by increased construction activities, infrastructure development, and a growing emphasis on sustainable building practices.

Rapid Growth and Projections
The market for construction chemicals in North America is projected to grow at a CAGR of 5.1% during the period of 2023-2028. The region ranks third globally in the sale of concrete admixtures, fueled by the rapid expansion of the construction industry in the United States and Canada. The governments' incentives to develop the infrastructure sector and the rising residential sector have contributed to this growth.

Factors Driving Performance
Several factors have contributed to the performance of the construction chemical market in North America:
  1. Increasing Infrastructural Activity: Robust construction activities, including residential, commercial, and infrastructure projects, have been witnessed in the region. Major projects like the Golden Triangle Ethylene Cracker plant in Texas and AltAir/World Energy's renewable energy facility in California have contributed to this growth.
  2. Emphasis on Sustainable and Eco-friendly Products: There is a growing trend towards environmentally friendly construction chemicals with low VOC content and reduced environmental impact. Green building initiatives and sustainability practices are influencing the demand for eco-friendly construction chemicals.
  3. Technological Advancements: Innovations in chemical formulations have led to the development of high-performance construction chemicals. For example, CEMEX launched a new range of bio-sourced admixtures designed to reduce carbon footprint.

Key Findings:
The report highlights key findings in the North America construction chemical market:
  1. Demand & Supply Gap in Canada: The lack of cement, a crucial component in concrete production, is posing challenges for Canada's building industry, impacting the demand for building chemicals.
  2. Strengthening of GDP Growth: The chemical industry contributes significantly to the United States' GDP, and increased GDP will directly impact spending and rising demand in the coming years.
  3. Market Trend: Gypsum plasterboard has become the interior finish material of choice, covering the interiors of 97% of new homes constructed in the United States and Canada.
  4. Restraints: The construction industry faces challenges related to low productivity of unskilled workers, which affects project performance.

The report "North America Construction Chemical Market - Analysis, Trend, and Forecast (2018-2028) - Segmentation by Geography, Product, and End User" by Makreo Research provides a comprehensive examination of the construction chemical market in North America. The report analyzes historical and current industry trends, considering macroeconomic and microeconomic factors.

To know more:-
North America Construction Chemical Market Analysis and Forecast (2018-2028) – Segmentation by Geography, Product, and End User (https://www.makreo.com/report/north-america-construction-...)

Similar Related Reports:-
Construction Chemical Market Report and Forecast (2018-2028) (https://www.makreo.com/report/construction-chemical-marke...)


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