According to GlobalData, the value of the US construction market is forecast to grow by 2.0% in real terms in 2024, having decreased by 7.0% in 2023. A key growth market will be the infrastructure market, with output rising by 12.6% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
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Here are the top five chemical and pharmaceutical construction projects that commenced in the US in Q2 2024, according to GlobalData’s construction projects database.
1. Clayton Fill and Finishing Manufacturing Facility Expansion
The project involves the construction of the 130,064m2 fill and finish manufacturing facilities on 23ha of land in Clayton, North Carolina.
Construction work started in Q2 2024 and is expected to be completed in Q4 2029.
2. Phoenix Hydrogen Hub
The project involves the construction of a hydrogen hub with a production capacity of up to 11,000 tones per annum (TPA) of liquid green hydrogen on 64ha of land in Phoenix, Arizona.
Construction work commenced in Q2 2024 and is expected to finish in Q2 2026.
The project will establish Fortescue in one of the most attractive energy markets in the world, supported by the Inflation Reduction Act.
3. Bioforge Marshall Biomanufacturing Facility
The project involves the construction of a 46,451.52m2 biomanufacturing facilities on 13.75ha of land in Marshall, Minnesota.
Construction work started in Q2 2024 and is forecast to complete in Q4 2025.
The project aims to scale up the chemoenzymatic process to meet customer demand for sustainable products that are high-performance and cost-competitive.
4. South Bend Integrated Biorefinery Plant
The project involves the construction of an integrated biorefinery plant with a production capacity of 85 million gallons of corn ethanol and 2.8 billion cubic feet (Bcf) of RNG per year in South Bend, Indiana.
Construction work commenced in Q2 2024 and is expected to be completed in Q4 2026.
5. Pharma Office and Manufacturing Facility
The project involves the construction of a 7,432m2 office building and a production facilities on 6ha of land in Tonawanda, New York the US.
Construction work started in Q2 2024 and is expected to be completed in Q3 2025.
The project aims to provide better manufacturing facilities in the region.
For more details on the latest construction projects, buy the profiles here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
