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Rapid Urbanization Proliferates the Growth of the GCC Construction Chemicals Market
GCC Construction Chemicals Market Analysis provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities.
Further, the growing infrastructure sector and implementation of sophisticated technologies in construction activities are other critical aspects increasing the demand for construction chemicals, thereby accelerating the overall market growth.
Impact of COVID-19 on GCC Construction Chemicals Market
Due to the outbreak of the COVID-19 pandemic, the market witnessed a severe decline in its growth rate due to strict regulations imposed by various governments, such as restrictions on working conditions, a halt in construction activities, and supply chain disruptions. Further, the spread of the virus and the high health risks associated with it resulted in the shortage of workers in the industry, thereby causing a delay in the project completion.
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However, with the lockdown upliftment and ease of norms, the construction activities are resuming and shall soon be back at their usual pace. Therefore, the demand for construction chemicals is also likely to surge subsequently in the coming years.
Adhesives & Sealants Exhibits Fastest Growth
Based on the Type of Chemicals, the market bifurcates into Concrete Admixtures, Waterproofing Chemicals, Adhesives & Sealants, Flooring Compounds, Repair & Rehabilitation, and Protective Coatings. Of these, Adhesives & Sealants are more likely to register the fastest growth in the GCC Construction Chemicals Market during 2021-26. The most prominent aspect supporting the segment growth is the various benefits offered by them, including improved durability & bonding time of adhesives. They consist of water-resistant & polymer-modified cement used majorly in wall and floor tiles. Hence, these properties of adhesives & sealants are the prime contributors to the segment growth, reveals MarkNtel Advisors in their research report, "GCC Construction Chemicals Market Analysis, 2021."
According to MarkNtel Advisors, the major leading players in the GCC Construction Chemicals Market are BASF Middle East LLC, Middle East Fosroc, Sika GCC, DOW Menat, Chryso Gulf, Saudi Basic Industries Corporation (SABIC), GCP Applied Technologies Inc., Henkel Arabia, Jotun Saudia Co. Ltd., and DOW Menat.