Saudi Arabia Construction Chemicals Market by Product Type (Concrete Admixtures, Waterproofing & Roofing Chemicals, Protective Coatings, Adhesives & Sealants, Industrial Flooring, Asphalt Additives, Repair & Rehabilitation, and Others) and Application (Residential, Industrial & Commercial, and Infrastructure): Opportunity Analysis and Industry Forecast 2020–2027
The Saudi Arabia construction chemicals market was valued at $741.1 million in 2019, and is projected to reach $1,091.8 million by 2027, growing at a CAGR of 6.9% from 2020 to 2027. Chemicals for building are chemical solutions, usually used to stick to them during construction activities with cement, concrete, or other materials. It is understood that construction chemicals improve concrete strength and quality and provide water resistance and improved rigidity. The concrete system, in addition, is protected from atmospheric corrosion. For concrete, different chemical materials are used to decrease the quantity of cement and water, such as concrete admixtures. To ensure consistency during mixing, curing, and placement, concrete admixtures are known to modify hardened concrete properties. The demand for construction chemicals in Saudi Arabia is expected to expand at a strong pace as the country experiences an expansion of its infrastructure base, structural reforms, and technological advances. Furthermore, upcoming infrastructure megaprojects in various sectors of the economy, with particular focus on renewable energy development projects, are driving the market growth. In addition, the government of Saudi Arabia is keen to improve transport infrastructure, electricity, and utility facilities and introduce affordable housing programs across the country to probe the country’s demand for building chemicals. For instance, through the National Transformation Program (NTP) 2020, the government proposes to spend USD71.5 billion toward the development of Saudi Arabia’s transport and tourism infrastructure. These all factors increase the demand for construction chemicals market. However, delayed projects due to high initial investment cost and long contract awarding & execution process hamper the Saudi Arabia construction chemicals market. Furthermore, Saudi Arabia’s growing economy and abundance of oil reserves result in increased public investment in the development of economic cities and related infrastructure provide the nation’s building chemicals manufacturers with significant growth opportunities. The Saudi Arabia construction chemicals market is segmented on the basis of product type and application. Depending on product type, the market is categorized into concrete admixtures, waterproofing & roofing chemicals, protective coatings, adhesives & sealants, industrial flooring, asphalt additives, repair & rehabilitation, and others. On the basis of application, it is divided into residential, industrial & commercial, and infrastructure. The major key players operating in the market include Arkema S.A., Ashland Inc., BASF SE, Construction Material Chemical Industries, Don Construction Products Ltd., Fosroc International Ltd., Meister Co., Polywed Construction Chemicals, SAAK Construction Chemicals, SABIC, Sika Ag, and The Dow Chemical Company.
KEY BENEFITS FOR STAKEHOLDERS ? The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the Saudi Arabia construction chemicals market from 2019 to 2027 to determine the prevailing opportunities. ? A comprehensive analysis of the factors that drive and restrict the growth of the market is provided. ? Estimations and forecast are based on factors impacting the market growth, in terms of both value and volume. ? Profiles of leading players operating in the market are provided to understand the global competitive scenario. ? The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth. IMPACT OF COVID-19 ON THE SAUDI ARABIA CONSTRUCTION CHEMICALS MARKET • The outbreak of COVID-19 has negatively impacted various industries and countries. Owing to the lockdown imposed, decrease in the growth rate of the industries such as construction & building, transportation, oil & gas, and energy sectors has been witnessed. • This has further declined the need for construction chemicals, which, in turn, is expected to hamper the growth of the Saudi Arabia construction chemicals market in the next one year. • The demand supply gap, disruptions in raw material procurement, and price volatility are expected to hamper the growth of the building & construction industry during the COVID-19 pandemic. • As the lockdown prevails in most of the virus spreading countries, due to its inability to supply, the supply of domestic building materials availability has increased at the end of the suppliers. At the same time, there were also problems with the import of raw materials that had a major effect on the overall price of building materials. This has result in the unpredictable mix of price fluctuations.
KEY MARKET SEGMENTS • By Product Type Concrete Admixtures Waterproofing and Roofing Chemicals Protective Coatings Adhesives and Sealants Industrial Flooring Asphalt Additives Repair and Rehabilitation Others • By Application Residential Industrial and Commercial Infrastructure
KEY MARKET PLAYERS • Arkema S.A. • Ashland Inc. • BASF SE • Construction Material Chemical Industries • Don Construction Products Ltd. • Fosroc International Ltd • Meister Co. • Polywed Construction Chemicals • SAAK Construction Chemicals • SABIC • Sika Ag • The Dow Chemical Company
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