Posted On: 2021-04-26
Concrete admixtures acquired the largest revenue share in the Middle East and Asia Pacific Construction Chemicals market – 6Wresearch.
The Middle East and Asia Pacific construction chemicals market witnessed moderate growth during the period 2017-2019 underpinned by rapid growth in population and rising urbanization in the region. The governments of different countries in the Middle East and Asia Pacific region have placed a strong emphasis on infrastructure development and construction as a key engine of urban growth and development, which acted as a catalyst for the growth of the construction chemicals market in the region. However, as an impact of the pandemic COVID-19, several countries in the region entered a phase of economic downturn in 2020, as a result of lower construction and manufacturing activities, which adversely impacted the construction chemicals market revenues as well across the region.
According to 6Wresearch, the Middle East and Asia Pacific (APAC) Construction Chemicals Market size is projected to grow at a CAGR of 10.7% during 2021-2027F. The primary reason for the growth in the Middle East and Asia Pacific construction chemicals industry can be attributed to the several countrywide economic development plans including Saudi Arabia Vision 2030, Plan Abu Dhabi 2030 - Urban Structure Framework Plan, Egypt Vision 2030, Colombo Port City by CHEC Port City Colombo Pvt Ltd in Sri Lanka, Sri Lanka National Physical Planning Policy & the Plan for 2017–2050, Dubai 2040, and Qatar National Vision 2030, that aim for economic restructuring of these countries would foster the construction and infrastructure development across the region.
According to Apoorva Sawhney, Senior Research Analyst, 6Wresearch, “Rising construction activities across the UAE which comprised of Abu Dhabi Metro”, “Etihad railway network” along with the major events such as “Dubai Expo 2020”, fostered the growth of construction chemicals in UAE during the period 2017-2019.
Further, with the official launch of ’Dubai Urban Master Plan 2040’ in March 2021, the hospitality, industrial and infrastructural sectors would witness a surge in investment activities, which in turn, would lead to the construction of high rise & environmental-friendly buildings and establishments. Hence, the demand for concrete admixtures, waterproofing agents and other such construction chemicals would rise across the country in the upcoming years.”, Apoorva further added.
According to Anmol Dhanju, Research Associate, 6Wresearch, “Based on types, concrete admixtures acquired the majority of the revenue share of the construction chemicals market in the region, on the account of the rapid growth in residential, commercial and infrastructure sectors in developing countries including UAE, Egypt, Qatar, Sri Lanka and Indonesia. On the basis of end-users, the infrastructure sector garnered the majority of the market revenue share during the year 2020 and is expected to dominate the market over the coming years as well on account of the rapid expansion in hospitality and infrastructure development across the region.”
“The Middle East and Asia Pacific Construction Chemicals Market (2021-2027F)” report provides an in-depth analysis with 82 figures and 52 tables, covered in 208 pages. The report estimates and forecast the Middle East and Asia Pacific Construction Chemicals Market by product types, end-users and countries. The report provides an unbiased and detailed analysis of the ongoing trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.