GCC Construction Chemicals Market by Product Type (Adhesives, Concrete Admixtures, Protective Coatings, Waterproofing Chemicals, Sealants & Others) by Application (Residential, Commercial and Industrial) and by Countries (Saudi Arabia, UAE, Kuwait and Rest of GCC) Opportunities and Forecast, 2019-2026
The formulated chemicals that are utilized to increase strength, the property of solidification, and protect concrete structures from the degradation of the atmosphere are known as construction chemicals. These chemicals are mainly applied to enhance the speed of work in both repairs as well as new construction projects. Construction chemicals are available in three different types in the market including surface treatment, concrete admixtures, and waterproofing, etc. These chemicals have both physical as well as chemical properties when applied like a phase change from liquid to solid.
However, the cost of using these chemicals lies around 3-5% of the cost of total construction projects but still, due to their high quality and durability, these chemicals are utilized in the construction projects. These construction chemicals are highly durable and protect the infrastructure from environmental hazards. As the research and development to enhance the quality of infrastructure is increasing, construction chemicals are becoming an important part of the construction sector.
As the demand for the infrastructure sector and repair requirement is rapidly increasing within GCC countries, it leads to an enhancement in the utility of sophisticated technologies in the activities of construction. This is considered one of the major driving factors in boosting the GCC Construction Chemicals Market growth. Another factor that bolsters the growth of the GCC Construction Chemicals Market is the plan of scheduled mega-events like the Qatar FIFA World Cup 2022 and Dubai World Expo 2020. Certain government initiatives to control dependency on the oil sector by increasing diversified investment patterns for various sectors also play an important role in driving the GCC Construction Chemicals Market. For instance, as part of Vision 2030, Saudi Arabia’s reforms are underway to change its economy from oil-based to knowledge-based.
Additionally, due to the increasing projects like ports, metro networks, airports, hotels, roads, bridges, etc., the demand for construction chemicals in the GCC region is forecasted to improve in the coming years. The major constraining factor for the growth of the market of GCC Construction Chemicals is the adverse effect on the environment caused due to the reaction of the environmental gases and the chemicals.
Based on the product type segment, over the forecast period of 2020-2027, the waterproofing and concrete admixtures category is expected to dominate because of the high demand and utilization of commercial and residential sectors in the GCC region.
Based on the application segment, in 2018, the largest share was given to the commercial category due to the increasing approvals from the government. However, over the forecast period of 2020-2027, it has been expected that the industrial category will rise.
Based on geography, in 2018, as different steps were taken to improve the industrial sector, Saudi Arabia dominated the market share. This can be observed in the government initiatives for the development and construction of the Jubail and Yanbu Industrial Cities. There are several notable players in the market like Chryso Gulf, BASF SE, Henkel, 3M Gulf, Construction Material Chemicals Industries, etc.
• In April 2018, Pidilite Group developed a partnership with a German firm named Stauf Klebstoffwerk and offered commercial flooring space solutions in the region. The development of this partnership took place to venture into the business of commercial flooring in GCC countries.
• In January 2019, to improve the economy, Saudi Arabia developed an agreement of $54.4 billion to enhance capital as a part of the 10-year program through the National Industrial Development and Logistics Program. The main purpose of NIDLP is to improve the economy by $320 billion at the end of 2030 by increasing the contribution of logistics, mining, energy, and industrial sectors.
• In 2016, Dubai Industrial Strategy 2030 was launched with a vision to raise Dubai into a global knowledge-based platform with innovation-focused businesses. This strategy was implemented to make Dubai a preferred platform for manufacturing for promoting environment-friendly and energy-efficient manufacturing business processes.
The segmentation of the GCC Construction Chemicals Market is based on application, product type, and country opportunity throughout 2020-2027.
Based on product type, the market consists of Waterproofing Chemicals, Adhesives, Concrete Admixtures, Protective Coatings, Sealants, and Others.
Based on the application, the market is divided into commercial, residential, and industrial.
• What is the pace of the growth of the GCC Construction Chemicals Market?
• What will be the trend of growth in the future?
• What are the major drivers and constraints in the current market?
• In the future, what will be the influence of drivers and constraints?
• What are the different areas of application and in what way they are assured to rise?
Market by Product Type
• Concrete Admixtures
• Waterproofing Chemicals
• Protective Coatings
Market by Application
Market by Countries
• Saudi Arabia
• Rest of GCC
• 3M Gulf
• BASF SE
• Chryso Gulf
• Dow Menat
• Fosroc, Inc.
• Henkel, H.B. Fuller
• Hernon Manufacturing
• Pidilite MEA Chemicals LLC
• Saudi Basic Industries Corporation