The scope of our recent study on "Construction Chemicals Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product and Application" includes the factors fueling the growth of the market; analysis of revenue estimation, forecast, and market share; and the identification of significant market players and their key developments.

The construction chemicals market is expected to grow from US$ 50,952.86 million in 2022 to US$ 71,449.75 million by 2028; it is estimated to grow at a CAGR of 5.8% from 2022 to 2028. Construction chemicals are specialty products crucial for sustainable infrastructure and energy conservation in the construction industry. They are used to increase the durability of buildings and provide added fortification from environmental hazards.

Based on application, the construction chemicals market is segmented into residential, commercial, industrial, institutional, and infrastructure. In 2021, the residential segment held the largest market share. The growing residential construction in China, India, and other countries is driving the demand for construction chemicals. According to the Ministry of Housing and Urban-Rural Development, China will build more subsidized rental homes and renovate old residential communities in the next a few years. During the 14th Five-Year Plan (2021-2025) period, China plans to develop 6.5 million government-subsidized rental homes in 40 key cities to offer affordable housing to an estimated 13 million people. Along with this, in India, the Smart Cities Mission launched in 2015. The project aims to develop 100 cities in India with comprehensive infrastructure consisting of adequate water supply, affordable housing, efficient urban mobility, and the use of technology in improving security and safety. Thus, the growing residential construction is driving the construction chemicals market growth.

The global construction chemicals market is segmented into five main regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific dominated the market in 2021 and is expected to register the highest CAGR during the forecast period. The growing construction industry across countries in Asia Pacific fuels the growth of the market in the region. The rapidly growing urbanization across developing countries in the region is creating the need for residential complexes and buildings, which are driving the demand for construction chemicals. The construction firms in the region are developing an increased number of residential projects with high-grade construction materials to provide improved structural integrity and sustainability, which bolstered the growth of the construction chemicals market in Asia Pacific.

Impact of COVID-19 Pandemic on Construction Chemicals Market

In 2020, the COVID-19 pandemic adversely affected the construction chemicals market due to the shutdown of manufacturing facilities and restrictions on transportation and logistics. Disruptions in supply chains hampered the manufacturing and supply of construction chemicals. However, businesses have started growing again as governments of various countries have eased the social restrictions imposed earlier. The upliftment of trade restrictions has bolstered the construction chemicals market. Along with this, the revival of the construction industry and the recovery in the production of construction chemicals are driving the market growth.

The "Construction Chemicals Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry with a special focus on the construction chemicals market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The construction chemicals market is segmented on the basis of product, application, and geography. Based on product, the market is segmented into concrete admixtures, asphalt additives, waterproofing chemicals, adhesives and sealants, flame retardants, and others. By application, the market is segmented into residential, commercial, industrial, institutional, and infrastructure. Based on geography, the construction chemicals market is primarily segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In 2021, concrete admixture dominated the constriction chemicals market share and is also expected to register the highest CAGR during the forecast period.

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