Recent analysis of the Saudi Arabian construction chemicals market forecasts a significant growth, projecting its value to reach approximately $1.09 billion by the year 2027, which equates to a compound annual growth rate (CAGR) of 6.9% from 2020 to 2027. The valuation stood at $741.1 million in the year 2019.
Factors propelling the market include heightened demands from the infrastructure and construction sectors, as well as the trending preference for eco-friendly green buildings. On the other hand, the market’s growth is impeded by a lack of awareness of concrete surface retarders. However, the upswing in regional construction activities offers lucrative prospects for industry participants.
Construction chemicals, also known as specialty construction chemicals or construction chemical products, are custom-designed substances aimed at improving construction materials and structures in terms of performance, durability, and quality. These chemicals are crucial in the construction sector, offering benefits such as augmenting concrete strength, protection against corrosion, better adhesion, and extending the longevity of buildings and infrastructure. These products are utilized in both residential and commercial construction endeavors.
The report segments the Saudi Arabian construction chemicals market into product types and applications. The product spectrum encompasses concrete admixture, waterproofing and roofing chemicals, protective coatings, adhesives and sealants, industrial flooring, asphalt additives, repair and rehabilitation, and more. The waterproofing and roofing chemicals segment is anticipated to witness the most rapid CAGR of 7.5% during the forecast period. Nevertheless, concrete admixture held the dominant market position in 2019, claiming roughly a quarter of the total market share.
When dissected by application, the market is categorized into residential, industrial and commercial, and infrastructure sectors. The residential sector emerged as the largest market segment in 2019, making up almost half of the market. Moreover, this sector is projected to experience the highest CAGR of 7.0% through the forecast timeline.
Key market participants, as identified in the analysis, include notable industry names 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, among others.