GCC Construction Chemical Market
GCC Construction Chemical Market is likely to witness a healthy growth over the forecast period due to their ability to prevent infrastructure from environmental casualties.
Construction chemicals offer chemical resilience and strength to civil structures by adding life to buildings. Factors such as increasing infrastructural developments, rapidly accelerating urban population, and rising construction activities across the GCC nations will bolster the chemical construction market across the region. Also, with the evolving need to repair older buildings, the use of advanced technologies across the construction industry has increased, which is another factor strengthening the GCC construction chemicals market opportunities. Intensified initiatives to diversify investment over the infrastructure and retail sectors to reduce the reliance on oil industry has further stimulated the market growth. However, as per the GCC Construction Chemical Market Report, the reaction between environmental gasses and chemicals might be hazardous for living beings, which might hamper the market growth.
By product type segment, Concrete admixtures and waterproofing is anticipated to expand at a faster CAGR over the forecast period, due to the growing usage in residential and commercial sectors.
By application segment, commercial category dominated the overall market over the forecast period, owing to the growing government approvals of the larger projects.
By geography, Saudi Arabia is predicted to lead the overall market during the forecast period, due to the intensified government initiatives for the expansion of industrial sector.
Leading players in the market includes, Chryso Gulf, Dow Meant, Saudi Basic Industries Corporation, BASF SE, Fosroc, Inc., H.B. Fuller, 3M Gulf, Hernon Manufacturing, Pidilite MEA Chemicals LLC, Henkel, Construction Material Chemical Industries (CMCI).
Key Market Developments
- In April 2018, Pidilite Group partnered with Stauf Klebstoffwerk which is a German firm and offers solution for commercial flooring space in the region. The partnership was with a vision to foray commercial flooring business in GCC countries.
- In January 2019, Saudi Arabia agreed to $ 54.4 billion to provide manufacturing incentives via National Industrial Development and Logistics Program (NIDLP) to expand capitals as a part of the 10-year program which helps them diversify their economy. The intent of NIDLP is to upgrade the industry, mining, and energy sectors in the economy by $320 billion till 2030.
- In 2016 the development of Dubai Industrial Strategy 2030 with a vision to uplift Dubai into a global knowledge-based platform, viable and innovation-focused businesses. The strategy intends to help make Dubai a preferred production platform for global businesses, encourage environmentally friendly and energy-efficient manufacturing.
GCC Construction Chemical Market Segmentation:
GCC Construction Chemical Market by Equipment Type
- Cranes Lifting Equipment
- Industrial Trucks
- Continuous Handling Equipment
- Racking Storage Equipment
GCC Construction Chemical Market by Operation
GCC Construction Chemical Market by Industry
- Food Beverages
- Semiconductor Electronics
GCC Construction Chemical Market by Region:
- Asia Pacific
- Rest of APAC
- North America
- United States of America
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland