The South-East Asia construction chemicals market is estimated to grow at a healthy rate during the forecast period, 2018 - 2023. Construction chemicals, when added in construction materials, such as cement and concrete, improve the performance, enhance workability, as well as protect and hold construction material and the finished structure strong and bonded together. Additionally, these chemicals also aid in minimizing the quantities of water and cement required during the construction process. Owing to these abilities, they are becoming an integral part of the construction activities in various sectors.

Growing Construction Activity in Indonesia

The improved spending in infrastructure by the Indonesian government, in order to provide a better environment for businesses and normal residential purposes, is expected to boost the demand for buildings and other infrastructure in the country, making Indonesia a country with good potential and several growth opportunities for construction chemicals. Indonesia is in an extreme need of better infrastructure, owing to rising population, rapid urbanization, and rising disposable income from the middle-income-class and the elite-income-class. Indonesia’s GDP is expected to increase by up to 10% in the next fifteen years, and the construction industry is anticipated to account for the largest segment. Moreover, over the past few years, Indonesia has become one of the major hosts of numerous national and international events owing to their business potential. Thereby, increasing the demand for hotels, shopping malls, high-rise buildings, and stadiums (both outdoor and indoor), consequently, boosting the construction industry in the South-East Asia region.

Residential Building is the Fastest Growing Segment

Due to rapid urbanization, especially in Indonesia and Singapore, the demand for residential construction is increasing. In this sector, the demand for construction chemicals is seen in the building of new structures as well as in the repair of the old structures. The construction chemicals market in the residential segment has increased in South-East Asia, primarily in countries such as Indonesia, Thailand, and Singapore. The Indonesian government has started a program to build around a million housing units across Indonesia, for which the government has set aside around USD 1 billion from the state budget. Such investments for residential constructions and the improvements in the market scenario are driving the market for construction chemicals in the residential segment.

Key Developments in the Market

January 2018: Sika earnings grow by 8-9%.
December 2016: BASF opens new plant in the Philippines to supply construction chemicals for local market.

Major Players: 3M, BASF SE, Sika AG, W.R. Grace & Co., Mapei Inc., and RPM International, among others.

Reasons to Purchase this Report

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