Egypt Construction Chemicals Market size is projected to reach $444.5 million by 2027

According to a new report published by Report Ocean titled, “Egypt Construction Chemicals Market by Product Type, and Application: Opportunity Analysis and Industry Forecast, 2020–2027,” The Egypt construction chemicals market was valued at $283.2 million in 2019, and is projected to reach $444.5 million by 2027, growing at a CAGR of 7.6% from 2020 to 2027.

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Construction chemicals are chemical formulations, primarily used during construction activities with cement, concrete, or other materials to adhere to them. Construction chemicals are known to increase concrete strength and quality and give water resistance and increased rigidity. In addition, the concrete structure is safe from atmospheric deterioration. With concrete, various chemical materials, such as concrete admixtures, are used to reduce the amount of cement and water. Concrete admixtures are known to change hardened concrete properties to ensure consistency during mixing, curing, and positioning.

Construction chemicals are utilized in the construction industry for several applications such as residential, construction, infrastructure repair, commercial & industrial construction, and others. The growth of the sector is therefore boosted by major developments in the construction industry. Additionally, the construction sector in Egypt has shown strength in the past 10 years, according to the International Trade Administration. After a brief slowdown because of the COVID-19 outbreak, the sector is projected to rise by 9% on an average between 2020 and 2024. This development will primarily be powered by successful public–private partnerships and the expansion of green buildings to improve energy efficiency and high-end infrastructure. Furthermore, for most Egyptians, the real state sector has always been regarded as a safe shelter investment as it has retained and increased the value. The Government of Egypt is a major investor in the construction sector. For example, A massive ""New Administrative Capital"" is being constructed by the Government of Egypt 35 KM east of Cairo. The first phase of the project, which covers all ministries and authorities of the government cabinet, is almost complete and the government is expected to move forward by early 2021. The state is also upgrading airports, ports, and transport networks and plans to build up to 14 new smart cities across the country.

Depending on product type, the concrete admixtures chemicals segment held the highest market share of around 25.7% in 2019, and is expected to maintain its dominance during the forecast period. The chemical's inherent properties to improve concrete consistency, speed up or delay setting time, improve chemical and physical resistance, enhance concrete workability, and improve finishing will fuel the growth of the industry with growing demand for customized residential and commercial buildings.

On the basis of application, the residential segment holds the largest share, in terms of revenue, and is expected to grow at a CAGR of 7.7%. Market growth has been fueled by rapid development in developed countries and the use of innovative products and materials in construction activities.

The Egypt construction chemicals market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the report include BASF SE, CMB – Chemicals for Modern Building, EAMIC Ltd, Hemts Construction Chemicals, NCC X-Calibur, Innova Priority Solution, Polymar-EG, Prokem specialty chemicals, Sika Egypt for Construction Chemicals, and United Paints and Chemicals Drymix S.A.E.

Key Findings Of The Study:

Based on product type, the concrete admixture segment is anticipated to witness highest growth rate of 25.7%, in terms of revenue, during the forecast period.
Based on application, the infrastructure segment is anticipated to witness highest growth rate of 47.1%, in terms of revenue, during the forecast period.
Impact Of Covid-19 On The Egypt 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 Egypt construction chemicals market in the next one year.
Construction chemicals play major role in construction applications; however, due to the ongoing pandemic there is huge impact on the industries such as residential, industrial & commercial, infrastructure, and others, which in turn affected the market for Egypt construction chemicals.

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This release was published on openPR.