Construction Chemicals Market Size

Construction Chemicals Market Size

Construction Chemicals Market size will likely cross USD 50 billion by the end of 2024 growing at a CAGR around 9%.

The construction sector has witnessed a considerable growth rate since the economic downturn of the previous decade. It generated over USD 3 trillion in the BRICS nations in 2015 and will likely flourish at a CAGR beyond 10% to surpass USD 9 trillion by 2024, hence propelling the global ferroalloy market demand. Moreover, international level events such as the Olympic Games, Commonwealth Games, FIFA and ICC tournaments, etc. in these regions will further augment the regional market in the forecast span.

Global construction chemicals market growth may face restraints due to lack of awareness about the product benefits in the developing countries. Also, lack of training regarding the usage of the product may pose a threat to the industry growth in the coming years. Moreover, high product costs may hamper the market as most small and medium level builders and contractors tend to minimize the overall construction costs to maximize profit.