Global Construction Chemicals Market to Surpass USD 89.50 billion by 2031 Driven by Rise in Awareness about Environmental Hazards
SkyQuest projects that the global construction chemicals market will attain a value of USD 89.50 billion by 2031, with a CAGR of 7.00% during the forecast period (2023-2031). The growing awareness of the environmental hazards posed by conventional buildings and the changes in government policies worldwide are the main reasons for the adoption of chemical construction, especially in construction activities in the field. Some of the key players in the construction industry are focusing on underground insulation with green and sustainable materials, polycarboxylate ether-based green mixes, thermal insulation, composite insulation construction, and cool roof treatments plays an important role in the global construction chemicals market.
Westford USA, Feb. 07, 2024 (GLOBE NEWSWIRE) — The use of chemicals in construction activities is part of the overall cost, although it has significant environmental benefits in the global construction chemicals market. Construction chemistry adds to the strength and structure of basic structures, reduces cement water consumption in the construction process and, the main objective of adoption of construction chemistry is that structural strips, thermoset hot melts, multiple purposes etc. are used. increase the productivity of the employees.
Browse in-depth TOC of “Construction Chemicals Market”
● Pages – 157
● Tables – 67
● Figures – 76
Rolling machinery is one of the essential accessories in cement plants worldwide. Indian cement production is estimated to grow up to 12% annually by 2022, driven by rural housing demand and government focus on infrastructure. According to an India Brand Equity Foundation (IBEF) report, cement consumption in India at 379 million metric tons by FY2022, while it was 349 million metric tons in FY 2021, with an increase of about 8% increased the demand of the global construction chemicals market studied.
Prominent Players of Global Construction Chemicals Market
- Activision Blizzard Inc.
- Beyond the Summit
- Caffeine
- Electronic Arts Inc.
- Gfinity Plc
- Harena Data Inc.
- Hi-Rez Studios Inc.
- Intergalactic Gaming Ltd.
- Kabam Games Inc.
- Modern Times Group MTG AB
- Nintendo Co. Ltd.
- Riot Games Inc.
- Rovio Entertainment Corp.
- TaKeTV GmbH
- Tencent Holdings Ltd.
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Non-residential Segment to Dominate Market Owing to Rising Demand for Commercial Buildings
The non-residential sector was dominated due to increasing infrastructure in the global construction chemicals market. Demand for commercial buildings, bridges, roads, dams and causeways fuels the market further. Moreover, the growing disposable economy with high population density leads to greater demand for higher quality and quality housing for public use, which is acting as a boost to the growth of global pharmaceutical manufacturing.
Asia Pacific is dominated by growing construction activity in India, China, South Korea and Japan. The rapid population growth in China has made the country a major consumer of chemicals in construction. Further, technological advancement also contributes to the growth of the global construction chemicals market.
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Residential Segment to Witness Significant Growth Owing to Increasing Urbanization
The market for the residential segment is highly fragmented and increasing urbanization has resulted in a large number of consumers migrating to cities. Changing lifestyles, rapid urbanization, improving standard of living and increasing demand for luxury housing are expected to fuel the growth of the global construction chemicals market during the forecast period.
The global construction chemicals market in Europe is expected to be dominated by the residential segment which includes mid-range homes, high-end homes and affordable housing with increasing demand for penthouses, apartments, bungalows and villas as it has amenities and high-end designs that are expanding rapidly.
A comprehensive analysis of the major players in the global construction chemicals market has been recently conducted in this report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments of Global Construction Chemicals Market
- In June 2023, Fosrock entered into a joint venture with Chemtech, a leading pharmaceutical company. The partnership helped Fosrock develop and distribute various brands.
- In February 2023, Money acquired MBBC. The acquisition strengthened Sikha’s product presence and services globally and accelerated the continuous transformation of the construction industry.
Key Questions Answered in Global Construction Chemicals Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how do these differences shape the market’s future growth?
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