The global Building Construction Chemicals Market is expected to reach USD 119.75 Billion by 2030. Building and construction chemicals belong to a category of specialty chemicals that are utilized in the construction sector. These chemicals are used in various stages of construction for providing high durability, longevity, and environmental sustainability to the constructed structure, be it residential, commercial, or industrial.
The market growth is primarily driven by the rising construction activities in new construction and repair rehabilitation activities. The demand for newly developed building and construction chemical products is swinging towards chemicals providing improved value addition in construction activities, such as specialty cement additives, silicon caulks, polymer-based grouts and mortars among others, which give superior performance and outcomes.
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The market growth will be propelled by increased investments in infrastructure applications, which are expected to rise substantially during the forecast period. Government spending has been a major factor propelling the growth of the construction industry, which has been mitigated by numerous public-private partnerships, thereby increasing the focus on development.
Concrete and mortar admixtures are estimated to have the highest growth rate of 6.3% during the forecast period. The segment for concrete and mortar admixture contributed to a significant share of the market size of the building and construction chemicals market, and it will witness significant growth due to its contribution to cement quality.
Construction of new buildings is estimated to reach USD 51.22 Billion by 2028, with a growth rate of 6.0% during the forecast, owing to a rapid increase in construction activities. The commercial sector is estimated to witness a growth rate of 6.0% in the forecast period, reaching USD 16.80 Billion by 2028.
Major Companies of Building and Construction Chemical Market:
- Arkema S.A
- Ashland Inc
- Fosroc International Ltd.
- Mapei S.P.A.
- Pidilite Industries
- RPM International Inc.
- Sika AG
- Dow Chemical Company.
Notable Innovation of Building and Construction Chemicals Market:
The Building and Construction Chemicals Market has seen notable innovations in recent years. Manufacturers are focused on developing eco-friendly products that reduce carbon footprint and comply with environmental regulations. In addition, the use of nanotechnology in construction chemicals is becoming increasingly popular. Nanotechnology is being used to develop materials with enhanced properties, such as improved strength and durability.
Other notable innovations in the market include the development of self-healing concrete, which can repair cracks on its own, and the use of 3D printing technology to create complex architectural designs with precision and efficiency. The market is also witnessing the development of smart building materials that can monitor and adjust to environmental conditions, such as temperature and humidity, in real-time.
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