Driving Growth and Sustainability: The Promising Future of the Construction Chemical Market

BERLIN - July 19, 2023 - PRLog -- The global construction chemical market has witnessed significant growth in recent years, fueled by increased construction activities, infrastructure development, and a growing emphasis on sustainable building practices. This comprehensive market report provides valuable insights into key trends, drivers, challenges, and opportunities shaping the construction chemical industry.

Market Overview:
The construction chemical market is projected to grow at a CAGR of 6.1% from 2023 to 2028. Factors such as rising urbanization, population expansion, and infrastructure demands in established and emerging nations are driving this growth. Despite setbacks caused by the COVID-19 resurgence and geopolitical tensions, the future of the construction industry remains hopeful. The demand for construction chemicals is expected to rise due to the growing worldwide construction activity. Green buildings, in particular, present significant investment opportunities, estimated to reach USD 24.7 trillion by 2030.

Key Developments:
Several key developments have shaped the construction chemical market. Egyptian developer West Way Developments plans to invest one billion Egyptian pounds in residential and commercial projects in New Zayed, West Cairo. CEMEX has launched a new range of bio-sourced admixtures designed to reduce carbon footprint by up to 70%. Nippon Paint (India) Private Limited has strategically entered the construction chemicals sector, expanding its presence in the Asia-Pacific region.

Key Findings:
The market is witnessing increased consumer demand for low-carbon products, driven by growing environmental concerns. The expanding construction industry, particularly in emerging countries, is boosting market demand. Product innovation is also driving growth, with companies like Euclid Chemical launching new concrete admixtures to meet evolving construction needs. Inflation has impacted raw material costs, but projections indicate a decline by the end of 2023. The low productivity of unskilled labor remains a challenge for the construction industry.

Future Outlook:
The future of the construction chemical market looks promising, driven by sustainable practices and technological innovations. Companies are expected to focus on strategic partnerships, mergers and acquisitions, and product diversification to gain a competitive edge. With a focus on sustainability and innovation, the industry is poised for substantial development in the coming years.

Conclusion:
The construction chemical market is experiencing remarkable growth, propelled by increasing construction activities, technological advancements, and sustainability trends. The market report provides a comprehensive analysis, considering both qualitative and quantitative factors.

To Know More:
Construction Chemical Market Report and Forecast (2018-2028) - by Product Type (Concrete Admixtures, Asphalt Additives, Waterproofing Chemicals, Adhesives & Sealants, and Others), by Geography and by End Users (https://www.makreo.com/report/construction-chemical-marke...)

Similar Related Reports:
Asia Pacific Construction Chemical Market Analysis and Forecast (2018-2028) – Segmentation by Geography, Product, and End User (https://www.makreo.com/report/asia-pacific-construction-c...)