South Korea Construction Chemicals Market Expanding at a 6.51% CAGR, Total Revenue is Anticipated to Reach USD 6513.2 Million by 2030 | IGR

Infinium Global Research has added a new report on South Korea Construction Chemicals Market. The report covers the analysis of regional markets of South Korea. Moreover, the report gives insights into the factors that affect the regional performance of the market in the short run and in the long run. The South Korea construction chemicals market is a customer intelligence and competitive study of the demand, forecasts, trends, and macro indicators in South Korea market. The dynamics including drivers, restraints, opportunities, political, socioeconomic factors, technological factors, key trends, and future prospects. The South Korea construction chemicals market was valued at USD 3978.5 Million in 2022 and is expected to reach USD 6513.2 Million by 2030 and grow at a CAGR of 6.51% over the forecast period.

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A Booming Construction Landscape in South Korea

South Korea's construction sector is experiencing robust growth, thanks to substantial investments in infrastructure projects and urban expansion. The government has allocated over USD 300 billion towards the development of airports, roads, railways, and mega-resorts over the past few decades.

Major market players are adopting new business models to gain a competitive edge, while the country's burgeoning urbanization and population growth are key factors propelling the market forward. South Korea's urban population is expanding at a faster rate compared to neighboring countries. In 2019, more than 42 million people in South Korea resided in cities, accounting for approximately 81.4% of the total population, marking a 3.5% increase from 2010.

The rapid urbanization trend is driving city expansion, resulting in the construction of numerous residential and commercial buildings. This surge in construction activity is fueling the demand for construction chemicals, which are essential for various construction processes.

Raw Material Price Fluctuations Pose Challenges

While the growth prospects for the construction chemicals market in South Korea are promising, challenges persist. The prices of raw materials used in construction chemicals are heavily dependent on petroleum and mineral prices, both of which tend to fluctuate significantly over short periods. The volatility in raw material prices can substantially impact the revenue of companies involved in manufacturing and selling construction chemicals.

For example, crude oil prices, a key raw material for various polymers and resins used in construction chemicals, reached a record low of approximately USD -38 per barrel in April 2020. However, just four months later, in August 2020, crude oil prices rebounded to USD 43 per barrel. Such price fluctuations can lead to revenue uncertainties for companies, as witnessed by Bayer's loss of approximately €500 million in 2010 due to higher raw material costs.

Innovations in Construction Drive Market Opportunities

The construction industry is witnessing a wave of innovations designed to enhance efficiency and physical characteristics in construction processes. Innovations like raised flooring systems, self-healing concrete, thin joint construction, 3D printing, and smart roads are revolutionizing the industry. These advancements often require unique construction supplies and materials, including construction chemicals tailored to their specific applications.

For example, construction chemicals used in 3D printing construction projects must exhibit properties that facilitate quick settling and drying, distinct from traditional construction concrete. The rising adoption of these innovative construction methods is driving an increased demand for construction chemicals, creating growth opportunities in the South Korea construction chemicals market.

Key Market Players

The South Korea construction chemicals market boasts key players at the forefront of innovation and market leadership. Prominent companies in this sector include KCC Corporation, SK Chemicals, B&B Co., Ltd, Songwon Industrial, and Silikal Korea Construction Chemical Co., Ltd.

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Table of Content

Chapter 1. Report Overview

1.1. Report Description

1.2. Research Methods

1.3. Research Approaches

Chapter 2. Executive Summary

Chapter 3. Market Overview

3.1. Introduction

3.2. Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.3. Opportunities

3.2.4. Challenges

3.3. PEST-Analysis

3.4. Porter's Diamond Model for South Korea Construction Chemicals Market

3.5. IGR-Growth Matrix Analysis

3.6. Competitive Landscape in South Korea Construction Chemicals Market

Chapter 4. South Korea Construction Chemicals Market by Type

4.1. Concrete Admixtures

4.2. Waterproofing & Roofing

4.3. Repair

4.4. Flooring

4.5. Sealants & Adhesives

4.6. Other

Chapter 5. South Korea Construction Chemicals Market by End-user

5.1. Residential

5.2. Industrial/commercial

5.3. Infrastructure

5.4. Repair Structure

Chapter 6. Company Profiles

6.1 Competitive Landscape in Construction Chemicals Market

6.1.1 Competitive Landscape

6.2 Company Profiles

6.2.1 KCC Corporation

6.2.1.1 Overview

6.2.1.2 Company Snapshot

6.2.1.3 Product Portfolio

6.2.2 SK Chemicals

6.2.2.1 Overview

6.2.2.2 Company Snapshot

6.2.2.3 Product Portfolio

6.2.3 B&BCo., Ltd

6.2.3.1 Overview

6.2.3.2 Company Snapshot

6.2.3.3 Product Portfolio

6.2.4 Songwon Industrial

6.2.4.1 Overview

6.2.4.2 Company Snapshot

6.2.4.3 Product Portfolio

6.2.5 Silikal Korea Construction Chemical Co., Ltd.

6.2.5.1 Overview

6.2.5.2 Company Snapshot

6.2.5.3 Product Portfolio

More Insights on this report, Speak to Our Analyst: https://www.infiniumglobalresearch.com/south-korea/enquiry/41280

Reasons to Buy this Report:

=> Comprehensive analysis of regional markets of South Korea Construction Chemicals.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.

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