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GCC Construction Chemical Market is Predicted to Expand at a Promising CAGR during the forecast period 2022-2029 | Research Report

12-06-2022 12:04 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: GMI Research

GCC Construction Chemical Market

GCC Construction Chemical Market

The GCC Construction Chemical Market is estimated to grow at a robust CAGR over the forecast period (2022-2029).

For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/product/gcc-construction-chemical-market/

The factors driving growth of the GCC Construction Chemical Market includes increasing focus of Governments on reducing their dependency on oil and gas sector, emerging need to repair the ageing buildings, rise in the number of smart cities and improvements in the living standards. For instance, the Government of Saudi Arabia along with local and international investors will spend around USD 500 billion on Project Neom City, planned to be a zero-carbon smart city, which will accelerate the market growth in the approaching years. Moreover, rising adoption of advanced technologies by manufacturers, increase in the construction of airports, ports, bridges, and roads, across United Arab Emirates, and Kuwait, and rapid industrialization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, strategic partnerships, and collaborations between enterprises, rising disposable incomes and growing population growth rates, are further contributing to the market growth.

However, growth of the GCC Construction Chemical Market is hindered rising concerns related to harmful effects of chemicals on environment.

The prominent players operating in the GCC Construction Chemical Market are BASF SE, Fosroc, Inc., Henkel, Hernon Manufacturing, Pidilite MEA Chemicals LLC, Construction Material Chemical Industries (CMCI) Dow Menat, Chryso Gulf, Saudi Basic Industries Corporation, H.B. Fuller, and 3M Gulf, among others.

Based on Type, the Concrete Admixtures segment is predicted to hold the highest market share during the forecast period

Rising application of admixture chemicals in the residential and commercial areas, is pushing growth of the segment.

Based on Application, the Commercial segment captured the largest market share in 2018

As per the GCC Construction Chemicals Market Research Report, increase in the number of infrastructure projects and rising Government approvals for big projects, is propelling segment's growth.

Based on Countries, Saudi Arabia is anticipated to lead the market during the forecast period during the forecast period

According to the GCC Construction Chemicals Market Analysis, increase in Government's spending on infrastructural projects, technological advancements in construction chemical solutions, rapid urbanization and rising per capita incomes, are some of the important factors augmenting the market growth in Saudi Arabia.

Market Segmentation

Segmentation by Product Type

Concrete Admixtures
Waterproofing Chemicals
Protective Coatings
Adhesives
Sealants
Others

Segmentation by Application

Commercial
Residential
Industrial

Segmentation by Countries

UAE All-Up Construction Chemical Market
Saudi Arabia All-Up Construction Chemical Market
Kuwait All-Up Construction Chemical Market
Rest of GCC All-Up Construction Chemical Market

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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