The construction chemicals market share in Southeast Asia will post incremental growth of USD 1.39 billion, progressing at a CAGR of 6.17% during the forecast period. The increasing demand for concrete admixtures will offer immense growth opportunities to market vendors. The construction chemicals market in Southeast Asia is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Construction Chemicals Market in Southeast Asia by Application and Geography - Forecast and Analysis 2022-2026” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The construction chemicals market in Southeast Asia is segmented by Application (Non-residential and residential) and Geography (Indonesia, Malaysia, Singapore, Thailand, and the Rest of South-East Asia).
The growth of the construction chemicals market size in Southeast Asia by the non-residential segment will be significant during the forecast period. The growth of the segment is attributed to the increase in the construction of non-residential spaces.
Factors such as favorable government policies, availability of low-cost resources and a skilled workforce, and low operating and labor costs in the country will facilitate the construction chemicals market in Indonesia over the forecast period.
The increasing demand for concrete admixtures will directly influence the sales of construction chemicals in Southeast Asia. In addition, the factors such as rising support for eco-friendly and energy-efficient products are the major construction chemicals market in Southeast Asia trends that will positively impact the market growth. However, volatility in raw material prices will hamper the construction chemicals market growth in Southeast Asia.
The market is fragmented due to the presence of several players. Some of the major construction chemicals market vendors in Southeast Asia are ACC Ltd., Arkema SA, BASF SE, Croda International Plc, Dow Inc., Evonik Industries AG, Fosroc International Ltd., Pidilite Industries Ltd., RPM International Inc., and Sika AG.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2022-2026.
CAGR of the construction chemicals market in Southeast Asia forecast during 2022-2026.
Market-level data on units, average selling prices, and values of the construction chemicals market share in Southeast Asia.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the construction chemicals market in Southeast Asia.
Construction chemicals industry growth across Indonesia, Malaysia, Singapore, Thailand, and the Rest of South-East Asia.