Thriving Global Construction Chemical Market Driven by Megaprojects and Green Building Surge

SAN FRANCISCO - Aug. 16, 2023 - PRLog -- Source:
Makreo Research

The Global Gonstruction Chemical Market exhibited remarkable growth, achieving a 2.2% Compound Annual Growth Rate (CAGR) from 2018 to 2022 and achieving revenues exceeding USD 40 billion in 2022. This expansion was primarily propelled by escalating demand for construction chemicals, fueled notably by prestigious megaprojects such as The Great Man Made River Mega Project (Libya) and the Chuo Shinkansen High-Speed Railway Project (Japan), according to Makreo Research.

Green Building Momentum Amplifies Future Demand
Anticipated global building activity surge is set to drive further demand for construction chemicals in the coming years. Notably, the rise of green buildings is projected to become a major investment avenue. The International Finance Corporation (IFC) forecasts a remarkable valuation of USD 24.7 trillion by 2030 for the green building sector, creating a substantial growth opportunity.

Concrete Admixtures Lead the Way in Market Share and Growth
Concrete admixtures stand out as the foremost revenue contributor, constituting over 40% of the global construction chemical market's earnings. Future projections highlight this category's potential for the fastest growth due to innovations in cutting-edge and sophisticated concrete admixtures, catering to evolving construction industry needs.

Waterproofing Membranes Set to Reach USD 40 Billion by 2030
With infrastructure construction and global building activities on the rise, the waterproofing membranes sector is projected to reach USD 40 billion by 2030. Emerging markets for waterproofing membrane products are anticipated to drive this growth, reinforcing the importance of waterproofing solutions within the construction domain.

Asia Leads, China, US, and India Drive Global Growth
Asia retains a dominant position in construction chemical sales, with China, the US, and India collectively projected to contribute 57% of global growth in engineering and construction sectors by 2030. The rapid expansion of North America's construction industry, supported by government incentives and a flourishing residential sector, elevates the region's position in concrete admixture sales.

Innovations and Future Prospects
The industry is marked by innovations that shape its evolution. Sika's new concrete admixture facility in Stafford, Virginia, and Euclid Chemical's introduction of three groundbreaking concrete admixtures reflect an ongoing commitment to progress.

Conclusion: Dynamic Growth Awaits the Global Construction Chemical Sector
Marked by megaprojects, green building trends, and innovations, the global construction chemical market anticipates a dynamic future. Asia's prominence and economies like China, the US, and India driving growth position the industry to shape the global construction landscape profoundly.

To Know More:-
Construction Chemical Market Report and Forecast (2018-2028) (https://www.makreo.com/report/construction-chemical-marke...)

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