Asia Pacific, Middle East & Africa, and South & Central America Construction Chemicals and Materials Market is expected to reach US$ 480.5 billion by 2030

Increasing Demand from Various Residential and Non-Residential Sectors Drives Construction Chemicals and Materials Market Growth

The construction chemicals and materials market is expected to grow from US$ 261.66 billion in 2022 to US$ 480.5 billion by 2030; it is expected to register a CAGR of 7.9% from 2022 to 2030.

Construction chemicals and materials play a pivotal role in the construction industry, contributing to the durability, safety, and efficiency of various building projects. These products encompass a wide range of substances and compounds used at different stages of construction. Construction materials typically include raw materials such as cement, steel, bricks, and concrete. These form the structural foundation of buildings and infrastructure. Innovations in construction materials, such as the development of high-strength concrete or eco-friendly alternatives, have led to more sustainable and resilient construction practices. Construction chemicals, on the other hand, are specialized additives and compounds that enhance the properties of construction materials. They serve various purposes, such as improving the workability of concrete, increasing the workability of concrete, increasing the workability of concrete, increasing its resistance to water and chemicals, or enhancing its bonding strength. Common construction chemicals include admixtures, sealants, waterproofing agents, and coatings. These factors drive the construction chemicals and materials market growth.

Construction Chemicals and Materials Market Breakdown – by Region

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Various construction chemicals and materials play a vital role in residential construction projects. Several government bodies across different countries support the development of the residential construction sector. For instance, in Saudi Arabia, Sakani was formed in 2017 by the Ministry of Housing and the Real Estate Development Fund to facilitate home ownership in the Kingdom by creating new housing stock, allocating plots and homes to nationals, and financing their purchase. The program has an aim of reaching 70% home ownership by 2030. The Sakani program helped 70,000 families in the first quarter of 2021, surpassing its goal of providing 51,000 families. In addition, to speed up the "Yangi O'zbekiston" (New Uzbekistan) project and meet the population's ever-growing demand for housing, the Government of Uzbekistan announced the volume of new housing construction to be doubled in 2023. According to the proposal, the annual volumes of new housing construction by private contracting organizations will be doubled to 90,000 (compared to 44,000 in 2022) in 53 of the "Yangi O'zbekiston" residential areas and other 161 sites. Therefore, the rising demand for construction chemicals and materials from residential and non-residential sectors is driving the construction chemicals and materials market growth.

Nova Steel Corp, Sanbor Plastik ve ?nsaat San Tic Ltd Sti, Knauf Gips KG, Masdar Building Materials, Madar Building Materials LLC, Akcansa Cimento Sanayi ve Ticaret AS, Limak Cement, AKFA Group, Artikul Aziya Kabel LLC, and Gilan Holding are among the key players operating in the construction chemicals and materials market.

Impact of COVID-19 Pandemic on Construction Chemicals and Materials Market Growth

The construction chemicals and materials market witnessed growth before the onset of the COVID-19 pandemic due to the increased use of construction chemicals and materials from residential and non-residential construction. The COVID-19 pandemic adversely impacted the economy of Asia Pacific, Middle East & Africa, and South & Central America and slowed down the growth of various industries in 2020. The pandemic adversely affected the manufacturing industry, resulting in the shutdown of manufacturing facilities, creating challenges in procuring raw materials and increasing restrictions on logistic operations. The unprecedented rise in the number of COVID-19 cases across the country and the subsequent lockdown of numerous manufacturing facilities negatively influenced the growth of the construction chemicals and materials market. Further, the overall disruptions in manufacturing processes, research, and development activities restrained the construction chemicals and materials market growth. The severely decreased manufacturing activities reduced the demand for construction chemicals and materials in Asia Pacific, Middle East & Africa, and South & Central America.

However, the market is reviving due to the government's significant measures, such as vaccination drives. The growing demand for construction chemicals and materials from the manufacturing sector is the market growth. Moreover, various players in the region are seeking more investment opportunities as businesses gain confidence in stabilizing economies and increasing demand, thereby providing the impetus for the construction chemicals and materials market share.

The "Construction Chemicals and Materials Market Forecast Analysis to 2030" is a specialized and in-depth study of the chemicals & materials industry, focusing on the construction chemicals and materials market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The construction chemicals and materials market is divided based on product type and end-use industry. In terms of product type, the construction chemicals and materials market is segmented into pipes (steel, composites, polyethylene, polypropylene, PVC, and others), concrete (superplasticizers, accelerators, retarders, and others), road construction materials (asphalt and modified asphalt, crack and joint sealants and others), cables (polyvinyl chloride, polyethylene, silicone, and others), membranes (bitumen, ethylene propylene diene monomer, polyvinyl chloride, and others), and insulations (fiberglass, polystyrene, mineral wool, and others). By end-use industry, the construction chemicals and materials market is divided into residential, commercial, industrial, and infrastructure. In 2022, the infrastructure segment dominated the construction chemicals and materials market, and the residential segment is expected to be the fastest-growing segment during the forecast period. The increasing global population, upsurging urbanization, and rising middle-class population propel the need for housing and infrastructure development. An upsurge in construction activities drives the demand for construction chemicals and materials. Additionally, the adoption of modern construction techniques and designs, such as high-rise buildings, smart homes, and mixed-use developments, necessitates the use of advanced construction chemicals and materials. These materials provide structural integrity and offer aesthetic and functional benefits, catering to the evolving preferences of homeowners. In addition, a growing emphasis is on sustainable and energy-efficient construction practices in the residential sector. Homeowners and developers increasingly seek eco-friendly solutions and materials that enhance energy efficiency and reduce environmental impact. Thus, the growing demand for construction chemicals and materials in the residential sector can be attributed to the increasing construction activities, the rising focus on sustainability, the evolution of construction techniques, and the desire for durable and long-lasting structures. All these factors are boosting the growth of the construction chemicals and materials market for the residential segment.

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