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2021
Saudi Arabia Construction Chemicals Market

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
Update Available On-Demand

Report Code: A09390
Pages: 148
Jan 2021 | 4556 Views
Author(s) : Snehal Mohite, Rutuja Danekar , Eswara Prasad
Tables: 48
Charts: 48
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COVID-19

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The Saudi Arabia construction chemicals market  size 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.

The COVID-19 outbreak has affected the growth of the Saudi Arabia construction chemicals market due to the lockdown in country and delay in the construction of residential, commercial, and industrial sectors.

Building chemicals are formulated chemicals that are used to improve strength, solidification efficiency, and to protect concrete structures from atmospheric degradation. These chemicals are used either in maintenance operations or for new building projects for the speeding-up of work. There are various forms of building chemicals, such as concrete admixtures, surface treatment, and waterproofing, available in the market. In applications such as cross-linking or phase shift, these materials impart chemical as well as physical properties (from liquid to solid). While the costs associated with the use of building chemicals vary from 2-5 % of construction projects, construction chemicals are still used to achieve high concrete quality and reliability. Moreover, in building projects, these chemicals are used as they offer improved durability and provide additional protection from environmental hazards. Construction chemicals are a critical component of the construction industry with growing R&D to build high-quality infrastructure.

Saudi-Arabia-Construction-Chemicals-Market-2020-2027

The rapid growth in the infrastructure sector, along with the requirements for repair of older buildings in countries, has led to an increase in the use of advanced technologies in construction activities, which is a major factor in supporting the growth of the chemical market for construction in Saudi Arabia. Additionally, government initiatives to increase diversified investment patterns across sectors such as infrastructure, retail, industrialization, and others to reduce reliance on the oil sector also serve as a major growth driver for the chemical construction market in Saudi Arabia. In addition, there are many pipeline projects such as airports, metro networks, ports, highways, bridges, hotels, and others that also lead to creating high demand for Saudi Arabia's constriction chemicals during the forecast period. However, because of the reaction between chemicals and environmental gases that are harmful to living beings, problems associated with adverse effects on the environment serve as the key restraining factor for the growth of the chemical market for construction in Saudi Arabia.

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 Saudi Arabia Construction Chemicals 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.

Saudi Arabia Construction Chemicals Market, By Product Type

By product type, the concrete admixtures segment accounted for majority of the construction chemicals market share in 2019 and is anticipated to continue its dominance throughout the forecast period. In the coming years, growing awareness of the advantages of building chemicals, such as improvised stability, resilience, and corrosion inhibition, along with increasing demand from the residential sector, fuel the market growth.

Saudi Arabia Construction Chemicals Market
By Product Type

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Concrete Admixture is projected as the most lucrative segment.

Saudi Arabia Construction Chemicals Market, By Application

By application, the residential of construction chemicals segment held the largest Saudi Arabia Construction Chemicals Market share in the year 2019. The demand for construction chemicals is booming in the real estate sector of Saudi Arabia on account of development of individual housing units and commercial complexes.

Saudi Arabia Construction Chemicals Market
By Application

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Residential is projected as the most lucrative segment.

Key Benefits For Stakeholders

  • The report provides an in-depth analysis of the Saudi Arabia construction chemicals market forecast along with the current and future market trends.
  • This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
  • Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the Saudi Arabia construction chemicals industry for strategy building.
  • A comprehensive Saudi Arabia construction chemicals market analysis covers factors that drive and restrain Saudi Arabia Construction Chemicals Market growth.
  • The qualitative data in this report aims on market dynamics, trends, and developments.

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.

Saudi Arabia Construction Chemicals Market Report Highlights

Aspects Details
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 LLC, 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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According to the CXOs of the leading companies, growth in the demand for construction chemicals in Saudi Arabia is expected to be driven by growing urbanization and industrialization in major developing countries, the introduction of stringent government policies and increased investment in the construction sector. Additionally, one of Saudi Arabia's main strategies for fueling economic growth is investment in large-scale infrastructure projects. 

In order to maintain growth in the manufacturing sector and expand municipal services, the government's efforts to develop the country's infrastructure would lead to growth in construction spending. Rise in levels of personal income, household growth, and population migration from rural to urban areas would increase the country's need for better construction facilities and the development of road infrastructure. For examples, the Kingdom of Saudi Arabia has signed a deal with South Korean and Chinese companies under a USD100 billion project to construct 1.5 million affordable housing units over the coming years. 

Additionally, the government is concentrating extensively on the development of public-private-partnership deals as part of the Saudi Arabia Vision 2030 program. As a result, the country aims to privatize all airports by 2020 and has announced PPP (Public Private Partnerships) in Yanbu, Taif, Qassim, and Hail for airport ventures. In addition, it is anticipated that increased awareness of high-value products, such as concrete mixing, would play a key role in market development. However, as per the CXOs, lack of awareness regarding long-term benefits of construction chemical projects is anticipated to limit the overall market growth.
 

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FREQUENTLY ASKED QUESTIONS?

A. Construction chemicals have been used in various applications including residential, industrial & commercial, infrastructure and others are expected to drive the growth of the Saudi Arabia construction chemicals market.

A. The Saudi Arabia construction chemicals market anticipated to grow at CAGR of 6.9% during the forecast period.

A. Some of the key trend observed in the Saudi Arabia construction chemicals market is increasing residential and infrastructure application to dominate the market.

A. Sika Ag, Don Construction Products Ltd., Fosroc International Ltd., Construction Material Chemical Industries, Meister Co., Polywed Construction Chemicals, and The Dow Chemical Company are the leading players in Saudi Arabia construction chemicals market.

A. New product launches, business expansions, and acquisition are the major growth strategies adopted by the players in this market.

A. The market players are adopting various growth strategies and also investing in R&D extensively to develop unique products which are expected to drive the market size.

A. Residential sector is the largest segment in the Saudi Arabia construction chemicals market.

A. Major customer of the construction chemicals are from residential, industrial & commercial, and infrastructure are the key potential consumers in the Saudi Arabia construction chemicals market.

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