According to MarkNtel Advisors, the UAE Construction Chemicals Market is expected to grow at a CAGR of around 7% during 2021-26. The UAE construction industry is projected to grow astronomically in the coming years. This boost in the construction industry is mainly due to numerous construction projects, especially the ones under Abu Dhabi Vision 2023 & UAE Vision 2021.
In addition, the introduction of 'Projects of the 50,' i.e., responsible for the developmental & economic projects to boost UAE’s development and make it an ideal destination for all investors & talents. As a result, it would augment the demand for construction chemicals to make durable structures and fuel the overall market growth in the coming years.
Hence, the increasing demand for more effective chemicals is driving more innovations in the chemical industry. The growth of downstream customers of the chemical industry depends on the capability of chemical companies to deliver innovative materials that can boost product performance.
The non-residential building sector of the country is expected to be one of the major drivers for the construction industry. Moreover, the rapidly growing economy and increasing government initiatives toward promoting infrastructural developments are also contributing to the overall market growth, further states the research report, “UAE Construction Chemicals Market Analysis, 2021.”
Substantial Demand for Concrete Admixtures Owing to Burgeoning Number of Infrastructural & Residential Constructions across the UAE
Concrete admixtures are added to the concrete to enhance its properties, like durability, workability, overall strength, etc. Among all construction chemicals, they hold the largest share of the UAE Construction Chemicals Market, mainly due to the increasing government initiatives toward infrastructural developments across the country. In addition, rapidly changing lifestyles are fueling the need for more residential constructions and, in turn, surging the demand for concrete admixtures to make highly durable residential buildings.
On the other hand, Waterproof Chemicals are another type of construction chemicals. They are also witnessing rapidly surging demand across the UAE's construction industry, owing to their ability to create a robust barrier for the water to penetrate through the material, which helps prevent the moisture formation in buildings and protect the house from damages.
With Massive Investments to Boost Infrastructural Developments, Dubai Holds the Largest Market Share
Of all regions in the UAE, Dubai captures the largest share of the construction chemical market. It is due to the increasing government initiatives & investments toward boosting infrastructural developments in the country. Being the host of World Expo 2020 also contributes to the rapid growth of the construction industry in Dubai, with the surge in the construction & expansion of airports, hotels, & railway networks.
On the other hand, Abu Dhabi is projected to witness considerable market growth in the coming years. The introduction of Vision 2030 and other projects like Barakah Nuclear Power Plant and Midfield Terminal Building at Abu Dhabi International Airport is likely to boost construction activities in the region, which, in turn, will fuel the demand for construction chemicals during 2021-26, reveals MarkNtel Advisors in their research report, “UAE Construction Chemicals Market Analysis, 2021.”
According to MarkNtel Advisors, the leading industry players in the UAE Construction Chemicals Market are BASF, East Fosroc, Sika UAE, DOW Menat, Saudi Basic Industries Corporation (SABIC), GCP Applied Technologies Inc., Henkel Arabia, Colmef Construction Chemical, Corrotech Construction Chemical.
Key Questions Answered in the Study