Construction chemicals are formulated chemicals that are used for the purpose of increasing strength of concrete structures from the atmospheric degradation. These chemicals are capable of holding the construction material together. These chemicals are utilized for speeding-up of work either in repair activities or for new construction projects. There are different types of construction chemicals available in the market such as concrete admixtures, waterproofing chemicals, protective coatings, adhesives, sealants. Although the cost associated for utilizing construction chemicals lies in the range of 2-5 percent of the construction projects but still construction chemicals are utilized to achieve high quality and reliability of the concrete. Moreover, these chemicals are used in the construction projects as they provide increased durability and provide added protection from the environmental hazards. With increasing research and developments to develop high-quality infrastructure, construction chemicals are among the vital part of the construction sector.
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The rapid growth in the infrastructure sector coupled with increasing repair requirements in the older buildings within GCC countries are the major factors which are bolstering the growth of the GCC Construction Chemical Market. Moreover, huge infrastructure and industrial projects with scheduled mega-events such as Dubai World Expo 2020 and Qatar FIFA World Cup 2022 are contributing towards the demand of high-quality infrastructure which inturn is propelling the growth of GCC Construction Chemical Market. Favourable government initiatives pertaining to FDI in construction sector as well as increased spending by the government on infrastructure projects are the other important factors which are propelling the growth of the market. In addition, there are multiple projects that are in pipeline such as airports, metro networks, ports, roads, bridges, and hotels etc. in key countries of GCC such as U.A.E. and Saudi Arabia which will further contribute towards the increased demand for construction chemicals in Saudi Arabia. However, challenges associated with adverse effect on the environment owing to the reaction between the chemicals and the environmental gases which is harmful for the living being acts as the major restraining factor for the growth of GCC Construction Chemical Market.
Read Full Report Description: GCC Construction Chemical Market by Product Type (Concrete Admixtures, Waterproofing Chemicals, Protective Coatings, Adhesives, Sealants and Others) by Application (Residential, Commercial and Industrial) and by countries (Saudi Arabia, UAE, Kuwait and Rest of GCC) opportunities and forecast, 2019-2026. https://www.gmiresearch.com/report/gcc-construction-chemical-market/
Based on the product type, concrete admixtures and waterproofing segment is expected to grow at a higher CAGR throughout the forecast period of 2019 – 2026 owing to it’s increasing use in residential as well as the commercial structures in the GCC region. Air entrainers, water reducers, set retarders, set accelerators, superplasticizers and specialty admixtures are the key types of concrete admixtures being extensively used in the GCC construction industry.
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Based on application, commercial segment is expected to grow at a substantial CAGR in 2018 owing to the increasing government approvals of the larger projects. However industrial segment expected to grow highest CAGR over the forecast period of 2019 – 2026. The increased spending by the governments of GCC countries on construction projects as well as growing participation by private builders in the real estate industry are the major factors which will propel the growth of industrial segment during the forecast period.
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In terms of geography, Saudi Arabia held the largest market share in 2018 followed by countries such as U.A.E., Qatar, Oman etc. due to the favourable steps taken by the government to boost industrial sector such as increased spending on the construction sector and lucrative schemes for attracting FDI. For instance, the government has approved the development and construction of Jubail and Yanbu industrial cities as well as other industrial cities and is providing incentives to private players for investing in the real-estate industry.
Various notable players in the market includes Dow Menat, Chryso Gulf, Saudi Basic Industries Corporation, BASF SE, Fosroc, Inc., Henkel, H.B. Fuller, 3M Gulf, Hernon Manufacturing, Pidilite MEA Chemicals LLC, Construction Material Chemical Industries (CMCI). For instance, Saudi Basic Industries Corporation joined international partners and signed three MOUs through the company’s national initiative, Nusaned.
Key Market Developments:
The GCC Construction Chemical Market has been segmented on the basis of product type, application and countries – opportunity and forecast 2019 – 2026. Based on product type, market comprises of Concrete Admixtures, Waterproofing Chemicals, Protective Coatings, Adhesives, Sealants and Others. Application segment categorised into Residential, Commercial and Industrial.
Key questions answered in this research report:
GCC Construction Chemical Market by Product Type
GCC Construction Chemical Market by Application
GCC Construction Chemical Market by Countries
GCC Construction Chemical Market Leading Market Players (Option 5: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
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