North America Construction Chemicals Market Size
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2022 |
| Market Size (2023) | USD 13.65 Billion |
| Market Size (2028) | USD 17.15 Billion |
| CAGR (2023 - 2028) | 4.68 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
North America Construction Chemicals Market Analysis
The North America Construction Chemicals Market size is expected to grow from USD 13.65 billion in 2023 to USD 17.15 billion by 2028, at a CAGR of 4.68% during the forecast period (2023-2028).
The COVID-19 pandemic harmed the North American construction chemicals market. The North American market for construction chemicals had reached redacted before the pandemic, but it only had minimal growth in 2020 owing to the COVID-19 pandemic. Substantial growth is predicted to return in 2021 as the market for construction chemicals' intrinsic driving drivers remains constant. Currently, the market has recovered from the pandemic and is growing at a significant rate.
- Over the short term, the growing construction activities in the United States, increasing population strain on existing infrastructure, and demand for high-strength, energy-efficient infrastructure with premium aesthetics will likely accelerate market growth over the forecasted period.
- However, the tightening immigration laws and restrictions to address VOC emissions and skilled labor shortages over the projected period.
- Nevertheless, impending infrastructure investments and construction projects in the United States are creating new opportunities for the market segment in the future.
North America Construction Chemicals Market Trends
Residential Segment is Anticipated to Hold a Significant Share
- Construction chemicals are compounds or substances added to concrete and mortar to make them more compatible with building constructions. They improve qualities, including durability, surface finish, compressive strength, and resilience to harsh operating and environmental conditions. They also use less water and cement during the construction process.
- North America is the third largest market for construction chemicals globally, owing to the massive growth in construction activities in the United States and Canada. Various incentives by the governments of the respective countries to promote the residential sector have facilitated mainly the development of the construction sector in the region over recent years.
- A residential building is one or more family residences, lodging or boarding houses, hostels, dormitories, flats, and private garages that provide sleeping accommodation for typical residential purposes, with or without cooking or eating conveniences.
- According to the US Census Bureau, the value of private construction in 2022 was expected to be USD 1,434.2 billion, an increase of 11.7% from USD 1,279.5 billion in 2021. Residential construction spending in 2022 was USD 899.1 billion, an increase of 13.3% from USD 793.7 billion in 2021, while non-residential construction spending was USD 530.1 billion, a decrease of 9.1% from USD 485.8 billion in 2021.
- Moreover, from 2018 to 2022, the value of public residential building investment in the United States increased dramatically. In 2022, the public sector spent roughly USD 9.15 billion on residential development projects, slightly declining from USD 9.27 billion in 2021.
- Rising interest rates have already had an impact on the country's economy. New house development in the once-booming United States housing market has slowed. In July 2022, the number of privately owned homes and single-family homes declined. This might be due to increasing interest rates and inflation in the United States.
- Aside from new house development, the United States invests heavily in home improvements. The necessity for rehabilitation has become increasingly critical as the country's migrant population has grown. Furthermore, the increased awareness of the importance of sustainability and high-efficiency structures has accelerated the restoration trend. The availability of many government loans also encourages house upgrading in the nation.
- According to the Canadian Construction Association, the construction industry is one of the largest jobs in Canada and a significant contributor to the country's economic prosperity. The sector generates around USD 141 billion annually, accounting for 7.5% of the country's Gross Domestic Product (GDP).
- Furthermore, overall investment in building construction climbed by 3.3% during Q2 2022, reaching USD 62.3 billion for the third consecutive quarter, according to Statistics Canada. Due to increasing spending on multifamily housing, residential investment reached USD 46.4 billion.
- All the factors mentioned above, in turn, are expected to drive 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 increased federal and state funding for public works and institutional buildings.
- The United States 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 United States commercial construction sector is expected to grow in the next few years.
- In 2022, private construction spending in the United States grew roughly four times that of public construction spending. Regarding construction spending throughout the 50 states, Texas and California came out on top. According to projections, the value of US construction in 2022 was expected to be USD 1,792.8 billion, compared to USD 1,626.6 billion in 2021.
- According to the US Census Bureau, around 127,100 new house constructions started in the United States in April 2023. Moreover, The value of non-residential buildings commissioned by municipal and state governments in the United States in 2022 was greater than the previous year. This value peaked in 2022 at almost USD 328.9 billion, representing increased construction spending over the preceding year.
- Some of the upcoming projects that are in the construction sector to boom in the country in the United States for March 2023 are listed below.
- The North Bethesda project is a Strathmore Square with four buildings, 11 stories, and 2000 units, as well as a Tuckerman Ln Fivesquares Development with a total area of 1,900,000 square feet. The project is estimated to cost USD 550 million.
- Ohio Washington Court House is a 2,000,000-square-foot industrial project in partnership with Honda LG Energy Solutions - Battery Plant Construction, a three-building, Old US 35 LG Energy Solution. The project is anticipated to cost USD 3,500 million.
- Owing to all these factors, the demand for construction chemicals in the region is expected to increase during the forecast period.
North America Construction Chemicals Industry Overview
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, HOLCIM, and MAPEI SpA, among others.
North America Construction Chemicals Market Leaders
RPM International Inc.
Sika AG
BASF SE
MAPEI SpA
HOLCIM
*Disclaimer: Major Players sorted in no particular order
North America Construction Chemicals Market News
- September 2022: Saint-Gobain received approval from all relevant competition authorities for the completion of its acquisition of GCP Applied Technologies Inc. This acquisition was a significant step towards establishing Saint-Gobain as the major player in construction chemicals and advances the Group's ambition of being the worldwide leader in light and sustainable building.
- May 2022: Sika AG acquired United Gilsonite Laboratories (UGL), a prominent provider of coatings and waterproofing solutions for the construction sector located in the United States. UGL goods are available at major shops in the United States. This purchase was expected to contribute to Sika's high-value-added concrete and masonry waterproofing solutions.
North America Construction Chemicals Market Report - Table of Contents
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 Increasing Population Strain on Existing Infrastructure
4.1.3 Other Drivers
4.2 Restraints
4.2.1 Tightening Laws on VOC Emissions
4.2.2 Other 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 Buyers
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 (Market Size in Value)
5.1 Product Type
5.1.1 Concrete Admixture and Cement Grinding Aids
5.1.2 Surface Treatment
5.1.3 Repair and Rehabilitation
5.1.4 Protective Coatings
5.1.5 Industrial Flooring
5.1.6 Waterproofing
5.1.7 Adhesive and Sealants
5.1.8 Grout and Anchor
5.2 End-user Sector
5.2.1 Commercial
5.2.2 Industrial
5.2.3 Infrastructure
5.2.4 Residential
5.3 Geography
5.3.1 United States
5.3.2 Canada
5.3.3 Mexico
5.3.4 Rest of North America
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%) **/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 3M
6.4.2 Arkema Group
6.4.3 Ashland
6.4.4 BASF SE
6.4.5 CEMEX S.A.B. de C.V.
6.4.6 Dow
6.4.7 Five Star Products, Inc.
6.4.8 H.B. Fuller Company
6.4.9 Henkel AG & Co. KGaA
6.4.10 HOLCIM
6.4.11 LATICRETE International, Inc.
6.4.12 MAPEI SpA
6.4.13 RPM International Inc.
6.4.14 Saint-Gobain
6.4.15 Sika AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Infrastructure Investments and Construction Projects in the United States
7.2 Other Opportunities
North America Construction Chemicals Industry Segmentation
Construction chemicals are chemicals that are utilized in the construction process. These chemicals have a wide range of applications in the building industry. They can be used in ongoing construction projects to speed up the process, in new construction endeavors, in repairing and retrofitting existing buildings, or in improving the durability and strength of the structures.
The North American construction chemicals market is segmented by product type, end-user industry, and geography (United States, Canada, Mexico, and the Rest of North America). The market is segmented by product type into concrete admixture, surface treatments, repair and rehabilitation, protective coatings, industrial flooring, waterproofing, adhesives, sealants, grouts and anchors, and cement grinding aids. The end-user industry segments the market into commercial, industrial, infrastructure and public space, and residential. The report also offers market size and forecasts for three countries across the region. For each segment, market sizing and forecasts have been done based on revenue (USD million) for all the above segments.
| Product Type | |
| Concrete Admixture and Cement Grinding Aids | |
| Surface Treatment | |
| Repair and Rehabilitation | |
| Protective Coatings | |
| Industrial Flooring | |
| Waterproofing | |
| Adhesive and Sealants | |
| Grout and Anchor |
| End-user Sector | |
| Commercial | |
| Industrial | |
| Infrastructure | |
| Residential |
| Geography | |
| United States | |
| Canada | |
| Mexico | |
| Rest of North America |
North America Construction Chemicals Market Research FAQs
What is the current North America Construction Chemicals Market size?
The North America Construction Chemicals Market is projected to register a CAGR of 4.68% during the forecast period (2023-2028).
Who are the key players in North America Construction Chemicals Market?
RPM International Inc., Sika AG, BASF SE, MAPEI SpA and HOLCIM are the major companies operating in the North America Construction Chemicals Market.
North America Construction Chemicals Industry Report
Statistics for the 2023 North America Construction Chemicals market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Construction Chemicals analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
