The market has witnessed substantial growth due to rise in civil engineering activities, support for infrastructure projects, surge in foreign investments, and government initiatives, including new & smart city projects. Moreover, the South Korea construction chemicals market is driven by rise in demand for quality construction materials & related chemicals and increase in residential & commercial construction projects.
However, the market growth is hindered by several factors, including strict environmental regulations, availability of substitute products, and high cost of construction chemicals. Moreover, extreme weather conditions in the country and rapid change in crude oil prices are major restraining factors of the market.
Contrarily, rise in the need of nanotechnology-based construction chemicals and revenue-enhancing strategy of key players are anticipated to offer lucrative opportunities for the market expansion. In addition, gradual increase in public investments for the construction of residential & commercial buildings is a major growth opportunity to market players.
The Porter’s five forces analysis analyzes the competitive scenario of the South Korea construction chemicals market and role of each stakeholder. These forces include the bargaining power of suppliers, bargaining power of buyers, threat of new entrants, threat of substitutes, and competitive rivalry.
Further, the bargaining power of suppliers is high in the market due to existence of major & regional players. Moreover, the bargaining power of buyers is low due to presence of a number of buyers at different levels. In addition, the threat of substitutes is high due to availability of various substitutes, including water solutions, latex, and epoxy intensive. Furthermore, the market is highly competitive due to which the threat of new entrants is high. Moreover, due to presence of numerous domestic and international players in the market, the competitive rivalry is high.
The South Korea construction chemicals market is segmented into type and end-use industry. Depending on type, the market is divided into concrete admixtures, water proofing & roofing, repair & rehabilitation, industrial flooring, sealants & adhesives, cement grinding aids, and others. Within these segments, concrete admixtures hold the largest market share and are anticipated to have the highest growth rate during the forecast period. On the basis of end-use industry, the market is classified into residential, industrial/commercial, infrastructure, and repair.
The market players are investing more in R&D activities to introduce new construction chemicals that aid in improving the quality of construction activities. Moreover, to minimize negative impact on environment, they tend to develop more eco-friendly construction chemicals. Furthermore, they adopt different pricing strategies and enter several partnerships to gain competitive advantages in the market.
Key players operating in the South Korea construction chemicals market are BASF SE, Sika AG, Henkel AG & Co. KGaA, RPM International Inc., Dow Chemical Company, MAPEI S.p.A., Arkema Group, Fosroc International Ltd., GCP Applied Technologies Inc., and Pidilite Industries Limited.
To conclude, the South Korea construction chemicals market is anticipated to witness significant growth during the forecast period due to increase in the focus of major players on introducing innovative, energy-efficient, and eco-friendly solutions.
Key Benefits For Stakeholders
- Enable informed decision-making process and offer market analysis based on current market situation and estimated future trends.
- Analyze the key strategies adopted by major market players in South Korea construction chemicals market.
- Assess and rank the top factors that are expected to affect the growth of South Korea construction chemicals market.
- Top Player positioning provides a clear understanding of the present position of market players.
- Detailed analysis of the South Korea construction chemicals market segmentation assists to determine the prevailing market opportunities.
- Identify key investment pockets for various offerings in the market.
South Korea Construction Chemicals Market Report Highlights
| Aspects | Details |
 Forecast period | 2022 - 2032 |
 Report Pages | 89 |
 By Type |
|
 By End-use Industry |
|
 Key Market Players | DMB Construction Chemicals, Kumho Petrochemical Co. Ltd., SK Chemicals, Daelim Industrial Co. Ltd., Samsung SDS, Nantec Corporation, S.K. Chemical Industry Co. Ltd, Hanwha Total Co., Cheil Jedang Corporation, KCC Corporation |
The South Korea Construction Chemicals Market is estimated to reach $2.8 billion by 2032
1. Enable informed decision-making process and offer market analysis based on current market situation and estimated future trends.
2. Analyze the key strategies adopted by major market players in south korea construction chemicals market.
3. Assess and rank the top factors that are expected to affect the growth of south korea construction chemicals market.
4. Top Player positioning provides a clear understanding of the present position of market players.
5. Detailed analysis of the south korea construction chemicals market segmentation assists to determine the prevailing market opportunities.
6. Identify key investment pockets for various offerings in the market.
South Korea Construction Chemicals Market is classified as by type, by end-use industry
Loading Table Of Content...
Loading Research Methodology...
