Construction Chemicals Market Expected to Grow at 5.20% CAGR, Reaching USD 79.5 Billion by 2034
The construction industry is witnessing a surge in activities post the pandemic, and this has resulted in an increased demand for materials associated with infrastructure development. One such material is construction chemicals, which are getting substantial attention from companies involved in construction, be it private or public. The market valuation of construction chemicals is in line to reach a staggering USD 48,209.4 million as of 2024.
The construction chemical market is expected to grow at a modest CAGR of 5.20% through 2034, owing to the adoption of these chemicals in residential settings. The mechanization of the construction sector has also led to the construction of numerous roads, dams, buildings, shopping malls, and other structures in emerging economies like India, South Korea, Brazil, Thailand, and others. This is why, there is an excellent demand for construction chemicals, which is the reason for the market valuation to reach an expected amount of USD 79,548.1 million by the end of 2034.
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Fine Chemicals Market Forecasts 6.8% CAGR, Reaching USD 340 Billion by 2033
According to research conducted by Future Market Insights (FMI) on the global fine chemicals industry, demand is set to reach a valuation of USD 340,084.3 million by the end of 2033. Production of medicines and agrochemical products has been the prominent factor responsible for growth in the fine chemicals market.
Size of the global market for fine chemicals was USD 144,469.5 million in 2018. In 2022, the market experienced a 6.6% yearly growth. In 2023, it's projected to amount to USD 184,884.6 million.
In a number of sectors, including specialty chemicals, agriculture, and pharmaceuticals, quality and performance are becoming increasingly important. High purity, exact composition, and specialized functions are characteristics of fine chemicals.
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Europe's Biomass Pellets Market Set for USD 22.2 Billion by 2033, CAGR Projected at 6.9%
The Europe biomass pellets market, as reported by Future Market Insights (FMI), reached USD 10,743.6 million in 2022. Demand for biomass registered a 6.3% year-on-year growth in 2022, indicating that the Europe market would reach USD 11,387.5 million in 2023.
Over the forecast period 2023 to 2033, Europe sales of biomass pellets are expected to exhibit a 6.9% CAGR. It is expected to total a market size of USD 22,161.2 million by the end of 2033.
Biomass pellets are a clean-burning, cost-effective, and renewable source of fuel that is gaining high popularity as an alternative to fossil-based fuels. Biomass pellets can be produced from any type of compressed biomass or organic matter. This includes cordwood, wood chips, wood sawdust, waste paper, agricultural waste (residue), food waste, virgin lumber, and energy crops among others.
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