Report : South & Central America Construction Chemicals Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Concrete Admixtures, Asphalt Additives, Waterproofing Chemicals, Adhesives and Sealants, Flame Retardants, and Others) and Application (Residential, Commercial, Industrial, Institutional, and Infrastructure)
At 3.4% CAGR, the South & Central America Construction Chemicals Market is speculated to be worth US$ 2,715.09 million by 2028, says Business Market Insights
According to the Insight Partners’ research, the South & Central America construction chemicals market was valued at US$ 2,221.54 million in 2022 and is expected to reach US$ 2,715.09 million by 2028, registering an annual growth rate of 3.4% from 2022 to 2028. Growing demand for green buildings and strong growth of the construction industry in developing countries are the critical factors attributed to the market expansion.
The construction chemicals help to improve the overall quality and durability of the buildings. These chemicals increase the overall life of the construction work and provides protection against environmental hazards. The environmental benefits of construction chemicals are far greater. The construction chemicals add more strength to the buildings and also helps bring down the volume of water and cement used in the construction process at an exceptional rate. In recent years, there is a growing demand for green buildings. According to experts in environmental studies, near about 40% of the greenhouse gases and wastes come from the construction industry. The construction industry is a resource-intensive industry and constructing a building consumes a lot of natural resources. Hence, there has been an increase in demand for buildings that add aesthetic value to the location as well as the building are examples of sustainable development. Green buildings cause a negligible impact on the natural environment of the project site. As a result, there is a growing demand for green buildings. With this, the adoption of the construction chemicals in the construction industry is growing. The factors such as the growing awareness of the environmental effects of conventional buildings and changes in government policies across the region are leading to the large-scale adoption of construction chemicals for buildings. Major players operating in the construction industry are also paying high attention on Leadership in Energy and Environmental Design (LEED) ratings, green points, and sustainable buildings. Hence, the trend of a growing demand for green buildings is expected to fuel the SAM construction chemicals market growth during the forecast period.
On the contrary, fluctuating cost of raw materials and energy hurdles the growth of South & Central America construction chemicals market.
- Based on product, the South & Central America construction chemicals market is segmented into concrete admixtures, asphalt additives, waterproofing chemicals, adhesives and sealants, flame retardants, and others. The concrete admixtures segment held 32.6%market share in 2022, amassing US$ 724.83 million. It is projected to garner US$ 926.13 million by 2028 to expand at 4.2% CAGR during 2022–2028.
- Based on application, the South & Central America construction chemicals market is segmented into residential, commercial, industrial, institutional, and infrastructure. The residential segment held 30.7% market share in 2022, amassing US$ 681.90 million. It is projected to garner US$ 873.16 million by 2028 to expand at 4.2% CAGR during 2022–2028.
- Based on country, the South & Central America construction chemicals market has been categorized into Argentina, Brazil, and rest of South and Central America. Our regional analysis states that Brazil captured 48.2% market share in 2022. It was assessed at US$ 1,070.34 million in 2022 and is likely to hit US$ 1,360.80 million by 2028, exhibiting a CAGR of 4.1% during the forecast period.
Key players profiles in the South & Central America construction chemicals market report are Ashland Global Holdings Inc; BASF SE; MAPEI S p.A; Sika AG; Compagnie de Saint – Gobain S.A; Pidilite Industries Limited; RPM International Inc; and Dow Chemicals Company among others.
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