A recent report published by Infinium Global Research on the construction chemicals market provides an in-depth analysis of segments and sub-segments in the GCC as well as regional construction chemicals market. The study also highlights the impact of drivers, restraints, and macro indicators on the GCC and regional construction chemicals market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of GCC construction chemicals market. According to the report, the GCC construction chemicals market is projected to grow at a CAGR of 4.8% over the forecast period of 2021-2027, growing from nearly USD 3.6 billion in 2020 to about USD 4.9 billion in 2027.
The construction industry in GCC is on the rise. Other construction-related markets such as concrete, paints, and construction chemicals are expected to grow along with the construction industry. The GCC construction chemicals market is majorly dominated by the companies that offer construction other materials. These chemicals include admixtures, resins, sealants, adhesives, and coatings. Moreover, these chemicals assure the sustainability and energy conservation of the construction. Using the construction chemicals, the users can improve the workability of construction material, and boost their performance. Such benefits offered by the construction chemicals are increasing their popularity across the construction industry in GCC.
Over the period of the coronavirus pandemic, the construction industry in GCC suffered a lot and the construction activities were stopped completely. Disrupted supply chains and operational restrictions are some of the major problems faced by the industry. The disruptions in the supply chains of construction chemicals, along with restrictions on their transport during the pandemic created a major supply and demand gap in the market. This, in turn, hampered the market over the period of the COVID-19 pandemic. However, the supply and demand of the construction chemicals are anticipated to bounce back post-pandemic. As the pandemic crisis subside, the governments are expected to ease down the restrictions, resuming the construction industry and allowing manufacturers to operate normally and produce the construction chemicals.
The GCC construction chemicals market is majorly driven by the rapid infrastructural development across the region. Many of the GCC countries are moving away from oil-based economies to develop their infrastructure to attract foreign investment as well as tourists. This, in turn, bolstering the construction industry, and related markets in the GCC region. Moreover, rapid urbanization due to the growing population is further augmenting the growth of the construction chemicals market in GCC. However, a lack of awareness among end-users poses a great threat to the growth of the GCC construction chemical market. Nevertheless, the development of innovative manufacturing processes and new materials in construction chemicals is anticipated to support the growth of the market over the forecast period.
In terms of country, the GCC construction chemicals market is segmented into Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. Among these countries, Saudi Arabia held the largest share in the GCC construction chemicals market. Several factors including a growing population, rapid infrastructure development, and growing urbanization are anticipated to boost the growth of the construction chemicals market in Saudi Arabia. Moreover, the Vision 2030 initiative by the Saudi government is augmenting the construction industry in the country. The Vision 2030 initiative has opened up the leisure and hospitality market in Saudi Arabia, driving the need for infrastructure and construction development in the country. This, in turn, further propels the market for construction chemicals in Saudi Arabia.
The report on GCC construction chemicals market covers segments such as type, and end-user. On the basis of type, the sub-markets include concrete admixtures, waterproofing & roofing, repair, flooring, sealants & adhesives, and other. On the basis of end-user, the sub-markets include residential, industrial/commercial, infrastructure, and repair structure.
The report provides profiles of the companies in the market such as Arkema S.A., BASF SE, Fosroc International Limited, SAAK Construction Chemicals, Saudi Basic Industries Corporation, and Sika AG.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of construction chemicals market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
Please Choose One of them.