Executive Summary
The North America construction chemical market has experienced significant growth in recent years and is expected to continue its upward trajectory. The construction industry in North America has been witnessing steady growth over the years, driven by factors such as population growth, urbanization, infrastructure development, and residential and commercial construction projects. Construction chemicals play a crucial role in enhancing the performance, durability, and sustainability of construction materials and structures. The North America Construction Chemical market crossed USD 12.0 billion mark and grew at a CAGR of 1.7% from 2018 to 2022.
Rise in Green Construction Activity
Mexico is quickly embracing green, or environmentally friendly, construction practices, similar to other growing economies. The green building movement has gained support from the construction sector. In order to reduce expenses and gain from the health advantages associated with green and sustainable buildings, Mexico joined the World Green Building Council (WGBC) and is currently learning best practices from Europe, Canada, and the United States. The Mexican building sector also aspires to show other nations how to employ straightforward, reasonably priced methods learned from their own long-standing building practices to attain green building benefits.
Concrete Admixture Is Expected to Rise
The market for concrete additives is expected to reach more than USD 38 billion by 2024. The strong demand for concrete admixtures in the United States, combined with increased infrastructure spending in North America, will drive the market.
Product Segmentation
By Products: Concrete Admixtures accounted for the industry's largest market share. In June 2022, Sika AG expanded the production of concrete admixtures in the United States of America. The market for asphalt additives is also expanding significantly, propelled by factors like rising infrastructure demand, technological improvements, and a growing interest in sustainable construction practices. The market for asphalt additives is expected to grow in the near future as demand for RAP in road building increases.
By End User: The North America Construction Chemical market by end user is divided into Residential, Commercial and Industrial. The majority of the share is held by the Residential sector followed by industrial and Commercial.
By 2023, residential building upgrades are anticipated to cost more than USD 205 billion annually in the United States. In Canada, Ontario projects worth 1.5 million new homes will be needed in the province over the next decade. All these factors will increase the share of the residential segment in the construction chemical market.
By Geography: The majority of share is held by the United States. By 2024, US construction spending is anticipated to increase nominally by 3.7% yearly. Construction increased in 2022 across all four of the major areas which accelerated the demand for construction chemicals. With a 24.4% increase, the South saw the fastest growth in new construction. Texas was the site of several significant projects in 2022, including one that supported a brand-new manufacturing structure.
Future Outlook
The recent recovery of the construction industry in some of the parts of North America is driving significant demand for construction chemicals such as concrete and cement admixtures, asphalt modifiers, adhesives and sealants, waterproofing chemicals, and protective coatings.
It is anticipated that the increase in building activities would hasten the expansion of construction chemicals. US construction expenditures are forecast to increase by 3.7% yearly in nominal terms through 2024. Among the four major US regions, the South will continue to dominate construction activity through 2024. Construction spending in the West is projected to slightly outpace expenditures in the Midwest, Northeast, and South due to faster population and GDP growth.
Scope of the Study
The report “North America Construction Chemical Market – Analysis, Trend, and Forecast (2018-2028) – Segmentation by Geography, Product, and End User" by Makreo Research examines the Construction Chemical market in particular. The report provides a complete examination of both historical and current industry trends as it assesses the market for construction chemicals on the basis of product, end-user, and geographic area. The United States, Canada, and Mexico are all included in the study's geographical analysis of the North American market. The report contains a good balance of macroeconomic and microeconomic analysis, both qualitative and quantitative. The changes in macroeconomic variables have been taken into consideration while carefully evaluating the future.
The report examines the construction chemical in terms of market revenue and further breakdown into market segmentation:
By Geography
By Product Segmentation
By End User
Key Questions Answered
Table of Content
Report Synopsis
Industry at a Glance
1. Research Methodology
1.1. Objective of the Study
1.2. Research Process
1.3. Data Collection Methods
1.4. Analytical Framework
2. North America Construction Chemical Market – Past & Present Performance
2.1. Global Construction Chemical- An Overview
2.2. Positioning of North America in Global Construction Chemical Market
2.3. North America Construction Chemical Market- An Overview
2.3.1. North America Construction Chemical Market- Past & Present Performance
3. North America Construction Chemical Market – By Segmentation
3.1. North America Construction Chemical Market Structure
3.1.1. North America Construction Chemical Market- By Product Type
3.1.2. North America Construction Chemical Market- By End User
3.1.3. North America Construction Chemical Market- By Geography
4. North America Construction Chemical Market – By Geography
4.1. United States Construction Chemical Market – An Overview
4.1.1. United States Construction Industry Spending – Residential, Non-residential, Public
4.1.2. United States Construction Chemical Price Index - by Product (Adhesives)
4.1.3. United States Construction Chemical Price Index - by Product (Silicon)
4.1.4. United States Construction Chemical Price Index - by Product (Styrene Polymer, Epoxy Resin & Acrylic Polymer)
4.1.5. United States Construction Chemical Market Revenue – Past & Present Performance
4.2. Canada Construction Chemical Market- An Overview
4.2.1. Canada Construction Chemical Market- Construction Industry Facts
4.2.2. Canada Construction Chemical Trade Price – by Product (Silicon)
4.2.3. Canada Construction Chemical Market Revenue – Past & Present Performance
4.3. Mexico Construction Chemical Market- An Overview
4.3.1. Mexico Construction Chemical Trade Price – by Product (Epoxide Resin)
4.3.2. Mexico Construction Chemical Trade Price – by Product (Acrylic Polymer)
4.3.3. Mexico Construction Chemical Market Revenue – Past & Present Performance
5. North America Construction Chemical Market- Future Outlook
5.1. North America Construction Chemical Market- Future Outlook
5.2. Factors to Drive Future Growth of the North America Construction Chemical Market
6. Analyst Recommendations
7. Limitations of the Study
List of Figures and Tables
Market Share of North America in Global Construction Chemical Market Positioning, 2022
North America Construction Chemical Market Revenue, 2018-2022
North America Construction Chemical Market Segmentation by Product (%), 2022
North America Construction Chemical Market Segmentation by End User (%), 2022
North America Construction Chemical Market Segmentation by Geography, (%), 2022
United States Construction Spending, Jan/2017-Jan/2022
Adhesives Producer Price Index M-o-M in United States, Jan/22-May/23
Silicon Price Index in United States, 2018-2022
Styrene Polymer M-o-M Price Index in United States, May/22-May/23
Epoxy Resin M-o-M Price Index in United States, May/22-May/23
The US Construction Chemical Market Revenue, 2018-2022
Canadian Investment in Building Construction, Sep/22-Jan/23
Silicon Average M-o-M Import Price in Canada, Feb/22-Feb/23
Silicon Average M-o-M Export Price in Canada, Feb/22-Feb/23
Canada Construction Chemical Market Revenue, 2020-2022
Epoxide Resin Average M-o-M Import Price in Mexico, Feb/22-Feb/23
Epoxide Resin Average M-o-M Export Price in Mexico, Feb/22-Feb/23
Acrylic Polymer M-o-M Import Price in Mexico, Jan/22-Jun/22
Mexico Construction Chemical Market Revenue, 2020-2022
United States GDP Forecast, 2023-2028F
North America Construction Chemical Market Revenue Forecast, 2023F-2028F
US Total Construction Spending, 2023-2024F
United States Population Projection 2016 to 2060
Degree of Urbanization in United States, 2020 to 2050