According to MarkNtel Advisors, the GCC Concrete Admixture Market is projected to grow at a CAGR of around 4% in the forecast period, 2022-27. The increasing investments from the governments of GCC countries such as Saudi Arabia, the UAE, Oman, etc., in various construction activities, coupled with upcoming smart city projects, are poised to drive the market in the coming years. Furthermore, under the Saudi Vision 2030, the Saudi government has planned to invest in various aspects of real estate, including hospitality, social welfare housing, healthcare, education, among others.
In response, the government launched numerous construction projects, including Dahiyat Al Fursam, New Jeddah Downtown, etc. Similarly, in 2018, the government signed five agreements for the construction of around 19,000 housing units in Riyadh. Therefore, the ongoing & upcoming construction projects under Saudi Vision 2030 are also expected to have a positive impact on the GCC Concrete Admixture Market.
Besides, concrete admixture has various characteristics such as it helps in the reduction of carbon emission & the water content during construction activities. Therefore, it is mainly used to improve the quality of the infrastructure, owing to the ability of admixtures to handle harsh environmental conditions. Hence, fueling the demand for concrete admixture in the GCC region during the forecast period.
Water Reducer Concrete Admixture Captured a Significant Share in the GCC Concrete Admixture Market
Based on admixture type, the market is divided into Water Reducer, Accelerator, Retarder, Air Entraining, Alkali Aggregate Expansion Inhibitors, Corrosion Admixture, and Others. Among these, the Water Reducer admixture type held a notable share in the concrete admixture market. It provides higher concrete strength & can be produced without increasing the amount of cement during construction activities. Further, it also aids in reducing water-cement proportion by 7% to 8% & provides high stability to the building.
In addition, the temperature in the GCC region ranges from 45-50°C, which, sometimes, crosses 57°C in some parts of the GCC. Due to this, the demand for water reducer admixture has substantially increased in the region, as it provides stability & durability to the structures over a wide range of temperatures. Hence, a rise in the number of infrastructural activities across the GCC region is expected to boost the market in the coming years.
Residential End-user Held a Considerable Share in the Concrete Admixture Market
Based on end-user, the market bifurcates into residential, Corporate Buildings, Healthcare, Oil & Gas, Hospitality, Public Utility, Manufacturing, and Others. Of them all, the Residential end-user grabbed a significant share in the GCC Concrete Admixture Market during the historical period. The growing use of concrete admixtures during the construction of residential buildings to enhance their stability has helped to drive the market.
Moreover, the rise in the urban population & influx of migrants in the GCC countries resulted in the development of new residential buildings. Besides, the growing trend of building modern housing units would further boost the growth of the concrete admixture market.
Saudi Arabia to Influence the Concrete Admixture Market
Of all the countries, Saudi Arabia held the largest share in the GCC Concrete Admixture Market. With the mounting demand for concrete admixture, for projects associated with infrastructure development and the construction of green buildings & smart cities, Saudi Arabia is considerably contributing to the concrete admixture market. Moreover, Saudi Arabia also announced plans to invest in domestic projects in line with last year's level, which would give the construction industry a major boost.
Furthermore, according to the National Transformation Plan, the Saudi Arabian government intends to increase the real estate sector contribution to GDP from 5% to 10% by establishing a partnership with private sector developers to use government land for housing projects. Thus, demand for concrete admixture will continue to increase in the country for residential construction.
Key Market Competitors
According to MarkNtel Advisors, the leading players in the GCC Concrete Admixture Market are BASF SE, Sika GCC, MBCC Group, Arkema Middle East DMCC (Bostik), Chryso Group, Mapei S.P.A., Dow Chemical Company, Arkaz Alsharq Building Materials, Don Construction Products Ltd.,. Fosroc Inc.
Key Questions Answered in the Study