Strong Growth of the Construction Industry in Developing Countries
The construction chemicals help to enhance the workability, performance, functionality, chemical resistance and durability of the construction materials. The construction industry is a best prospect industry sector for Mexico. Mexican construction industry is growing due to the economic growth and public investment in infrastructure projects. In 2019 and 2020, the country’s President López Obrador, along with private sector representatives, announced multiple projects as part of the nation’s infrastructure plan. Mexico is also moving rapidly towards green and environmentally friendly construction activities. The construction industry from the country has embraced the green building movement. In the past few years, the construction sector in Indonesia has been a growth driver. The rapidly urbanizing population is driving the demand in the construction sector in the country. Hence, the strong growth of the construction industry in these developing countries is mainly driving the North America construction chemicals market growth.
Market Overview
The US, Canada, and Mexico are the key contributors to the construction chemicals market in the North America. The construction sector in North America is rapidly developing due to a robust economy and augmented federal and state financing for public works and institutional structures. Rapid development and urbanization are also driving the expansion of the North American construction chemicals market. With the increasing pollution, the demand for residential and commercial construction is increasing, which has positively surged the demand for construction chemicals. For instance, The University of Illinois at Chicago (UIC) has declared plans for a USD 95 million Center for the Arts to be built on its campus. The 88,000-sqft building will be used by the UIC's School of Theatre & Music. According to the American Institute of Architects (AIA), North America's commercial building investment is increasing yearly. Over the projection period, construction investment will expand at a breakneck pace. All these factors are driving the expansion of the North American construction chemicals market. Many domestic and international corporations have a substantial presence in North America. RPM International Inc., Sika AG, BASF SE, LafargeHolcim, MAPEI Spa and others are the key players in the North American construction chemicals industry. Manufacturers in the area are investing heavily in construction chemicals research and development and product development, which is expected to increase the market for construction chemicals during the forecast period.
North America Construction Chemicals Market Revenue and Forecast to 2028 (US$ Million)
North America Construction Chemicals Market Segmentation
The North America construction chemicals market is segmented into product, application, and country.
Based on product, the market is segmented into concrete admixtures, asphalt additives, waterproofing chemicals, adhesives and sealants, flame retardants, and others. The concrete admixtures segment registered the largest market share in 2022.
Based on application, the market is segmented into residential, commercial, industrial, institutional, and infrastructure. The residential segment held a largest market share in 2022.
Based on country, the market is segmented into the US, Canada, and Mexico. The US dominated the market share in 2022.
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 are the leading companies operating in the construction chemicals market in the North America region.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 13,787.84 Million |
| Market Size by 2028 | US$ 19,412.90 Million |
| CAGR (2022 - 2028) | 5.9% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Construction Chemicals Market is valued at US$ 13,787.84 Million in 2022, it is projected to reach US$ 19,412.90 Million by 2028.
As per our report North America Construction Chemicals Market, the market size is valued at US$ 13,787.84 Million in 2022, projecting it to reach US$ 19,412.90 Million by 2028. This translates to a CAGR of approximately 5.9% during the forecast period.
The North America Construction Chemicals Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Construction Chemicals Market report:
The North America Construction Chemicals Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Construction Chemicals Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Construction Chemicals Market value chain can benefit from the information contained in a comprehensive market report.
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