An increase in demand from the infrastructure and construction industry and rise in demand for green buildings have boosted the growth.
PORTLAND, OREGON, UNITED STATES, August 25, 2021 /EINPresswire.com/ — As per the report published by Allied Market Research, the Saudi Arabia construction chemicals market was pegged at $741.1 million by 2019, and is projected to reach $1.09 billion by 2027, growing at a CAGR of 6.9% from 2020 to 2027.
Increase in demand from the infrastructure and construction industry and rise in demand for green buildings have boosted the growth of the Saudi Arabia construction chemicals market. However, lack of awareness regarding concrete surface retarders hampers the market growth. On the contrary, surge in construction activities in the region is expected to open lucrative opportunities for the market players in the future.
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Due to the Covid-19 outbreak and followed lockdown, the construction activities and transportation of goods were temporarily closed to curb the spread of the infection. This negatively affected the demand for construction chemicals.
The prolonged lockdown resulted in disruption of the supply chain and raw material procurement. Moreover, the volatility of raw material prices further hampered the demand.
The Saudi Arabia construction chemicals market is divided on the basis of product and application. Based on product, the market is categorized into concrete admixture, waterproofing and roofing chemicals, protective coatings, adhesive and sealants, industrial flooring, asphalt additives, repair and rehabilitation, and others. The waterproofing and roofing chemicals segment is expected to manifest the highest CAGR of 7.5% during the forecast period. However, the concrete admixture segment held the lion’s share in 2019, accounting for around one-fourth of the market.
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On the basis of application, the market is divided into residential, industrial and commercial, and infrastructure. The residential segment held the largest share in 2019, contributing to nearly half of the market. Moreover, the segment is estimated to register the highest CAGR of 7.0% during the forecast period.
The Saudi Arabia construction chemicals market report includes an in-depth analysis of the key market players such as Ashland Inc., Arkema S.A., Construction Material Chemical Industries, BASF SE, Fosroc International Ltd., Don Construction Products Ltd., Polywed Construction Chemicals, Meister Co., SAAK Construction Chemicals, SABIC, Sika Ag, and The Dow Chemical Company
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