North America Construction Chemicals Market : Dynamics, Segments, Size and Demand Analysis Foreast:2022-2031

Japan, Japan, Mon, 14 Mar 2022 07:06:23 / Comserve Inc. / -- North America Construction Chemicals Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast

The North America construction chemicals market is estimated to witness a healthy growth, at an estimated CAGR of over 6%, over the forecast period. Growing construction activities in the United States are expected to drive the growth of the market studied.

- The concrete admixture segment dominated the market, by product type. Moreover, it is expected to witness the highest CAGR during the forecast period.
- The residential segment dominated the market, by end-user sector. Also, the segment is expected to witness the highest CAGR during the forecast period.

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Key Market Trends

Increasing Demand for Concrete Admixtures

- Concrete admixtures are ingredients that are added to the concrete mixture before or during mixing. Concrete admixtures reduce concrete construction cost by modifying the properties of hardened concrete, thereby ensuring better quality during mixing, transporting, placing, and curing. This allows users to overcome emergencies during concrete operations.
- The admixture is generally added in a relatively small quantity, ranging from 0.005% to 2%, by weight of cement. However, overuse of admixtures has detrimental effects on the quality and properties of concrete.
- Based on function, admixtures are categorized into several types, which include air-entraining, retarding, accelerating, plasticizing, and water reducing, among others. The special category admixtures have various functions, including shrinkage reduction, corrosion inhibition, workability enhancement, alkali-silica reactivity reduction, bonding, coloring, and damp proofing.
- North America is the third largest market for concrete admixture across the globe, owing to the massive growth in construction activities in United States and Canada. Various incentives by the governments of the respective countries to promote the infrastructure sector, coupled with the booming residential sector have largely facilitated the growth of the construction sector in the region, over the recent years.
- All the aforementioned factors, in turn, are expected to drive the market growth in the coming years.

United States to Dominate the Market

- The construction industry in the United States continued to expand, owing to a strong economy and positive market fundamentals for commercial real estate, along with an increase in federal and state funding for public works and institutional buildings.
- The US residential sector's growth is slower than the non-residential sector. In the country, the growing population is expected to boost the demand for housing. Furthermore, about 20 million households are projected to be constructed over the next decade. The US commercial construction sector is expected to witness growth in the next few years.

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- Some of the upcoming projects that are in the pipeline for the construction sector to boom in the country are:
- City officials in San Francisco recently unveiled designs for the South San Francisco Civic Center campus. It will include a new library, a parks and recreation center, and new City Council chambers. The budget for the project is estimated to be at USD 210 million.
- The University of Illinois at Chicago (UIC) has recently announced plans for a USD 95 million Center for the Arts to be built on its campus. The 88,000-square-foot building will be used primarily by the UIC's School of Theatre & Music.
- Owing to all these factors, the demand for construction chemicals in the region is expected to increase during the forecast period.

Competitive Landscape

North America construction chemicals market is partially consolidated as around 70% of the market is covered by top seven producers in the region. The major companies include RPM International Inc., Sika AG, BASF SE, LafargeHolcim, and MAPEI SpA, among others.

1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Construction Activities in United States
4.1.2 Other Drivers
4.2 Restraints
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition

5 MARKET SEGMENTATION

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