Showing posts with label Vietnam Waterproofing Market. Show all posts
Showing posts with label Vietnam Waterproofing Market. Show all posts

Thursday, January 26, 2023

Vietnam Construction Chemical market revenue is expected to get doubled by 2027F with a CAGR of ~11.9% between 2022E-2027F owing to rapid urbanization, increasing use of green chemicals and strong government investments: Ken Research

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Vietnam Construction Chemical Industry is a moderately fragmented market with the presence of local as well as international brands in the market. Currently, there are ~40 International players in the organized market, including manufacturing units & import (raw materials & finished products) from other countries. More than half of the market is organized and major share of the market is highly concentrated and rest of the industry is fragmented. Some of the major players in the Vietnam Construction Chemical Market are Sika, Silkroad, DOW, BASF, Bestmix, FOSROC etc.

  • Rapid urbanization, growing use of Ready-Mix Concrete (RMC) and green chemical will lead to increase in usage and quality of Chemicals in Construction industry in Vietnam.
  • Vietnam Construction Chemicals Market is moderately fragmented with the top player holding more than half of the market share in the organized market and remaining market being highly unorganized.
  • Future Infrastructure Development Projects by govt. such as Bac Tan Uyen Vietnam-Singapore Industrial Park III, Rach Mieu II Bridge and others will fuel the usage of construction chemicals in Vietnam.

Rapid Urbanization: Vietnam’s growing middle class is becoming rapidly urbanized, pushing up the demand for built environment solutions–especially in the residential sector and in affordable housing. Vietnam’s urbanization rate–the proportion of the population living in cities–was ~35% in 2019 and is expected to reach nearly 50% by 2040, precipitating a potential housing shortage. Also, the Vietnamese government has set aside USD ~1.4 Bn as incentives for developers to focus on such affordable housing projects between 2018 and 2022. Furthermore, with the opening of the school after Covid-19 and sudden increase in the demand for housing repair services has also led to the rise in the growth of construction chemical market of Vietnam.

Increasing use of Green Chemical: Construction chemical companies are working on advanced technologies, equipments, high degree of mechanization and automation to ensure high quality, stability of products and competitiveness in international markets, simultaneously saving raw materials and using alternative fuels. Thus, increasing the use of green technology and increasing the focus towards protecting the environment. This push towards Green Chemicals has a significant positive impact on the Vietnam construction chemical industry.

Strong Government Investments: In order to revive the economy and drive growth, the government has allocated USD ~ $35 billion to its economic recovery plan for the 2022-2023 period. Through this plan, the government is promoting infrastructure development. For instance, the Government has approved infrastructure projects like the construction of four airport in Sa Pa, Quang Tri, Lai Chau and Phan Thiet which are expected to kick off in late 2022 and early 2023. More projects like Bac Tan Uyen Vietnam-Singapore Industrial Park III and Rach Mieu II Bridge are also in the pipeline. Moreover, through its 2022 budget, the government has focused on bolstering the economic recovery and progressing post-pandemic reforms like master plan of urban development in Vietnam, Vision development urban water supply, urban drainage orientation to Vietnam. With all these government initiatives, the Vietnam Construction Chemical industry is expected to see a robust growth.

Analysts at Ken Research in their latest publication Vietnam Construction Chemical Market Outlook to 2027F - Driven by growing construction sector, high FDI Investments and favorable government initiative by Ken Research observed that Vietnam Construction Chemical market is in the growing phase, growing at CAGR of 5.6% between 2017-2022E owning to the influx of FDI, availability of cheap & abundant raw material, major merger & acquisitions, rapid urbanization, increasing use of green chemicals and strong government investments. It is expected that Vietnam Construction Chemical market will continue to grow, at a CAGR of 11.9% for the 2022-2027F forecasted period.

vietnam-construction-chemical-market

Key Segments Covered:-

Vietnam Construction Chemical Market

By Region, 2022E & 2027F

Northern Vietnam

Central Vietnam

Southern Vietnam

By End-User, 2022E & 2027F

Commercial

Industrial

Residential

By Product Type, 2022E & 2027F

Industrial Flooring

Sealants & Adhesives

Coating

Grouting Chemicals

Repair & Rehabilitation Chemicals

Waterproofing

Concrete Admixtures

By Product Type), 2022E & 2027F

Organized

Unorganized

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By Type of Concrete Admixtures, 2022E & 2027F

Organized

Unorganized

By Type of Waterproofing, 2022E & 2027F

Organized

Unorganized

By Type of Grouting Chemicals, 2022E & 2027F

Organized

Unorganized

By Type of Repair & Rehabilitation Chemicals, 2022E & 2027F

Organized

Unorganized

By Type of Coating Chemicals, 2022E & 2027F

Organized

Unorganized

By Type of Sealants & Adhesives Chemicals, 2022E & 2027F

Organized

Unorganized

By Type of Industrial Flooring Chemicals, 2022E & 2027F

Organized

Unorganized

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Key Target Audience:-

Construction Chemical companies

Concrete Additive companies

Waterproofing companies

Adhesive and Sealant Companies

Grouting chemical companies

Coating companies

Time Period Captured in the Report:-

Historical Period: 2017-2022E

Base Year: 2022E

Forecast Period: 2022E – 2027F

Companies Covered:-

Sika

MAPEI

FOSROC

MBCC Group

BASF

GCP

Bestmix

Silkroad

MC BIFI

Dow

Key Topics Covered in the Report:-

Country Overview of Vietnam

Vietnam Construction Chemical Market Overview

Vietnam Construction Chemical Market Size Overview, 2017-2022E

Vietnam Construction Chemical Market Segmentation

Industry Analysis of Vietnam Construction Chemical Market

Porter’s Five Forces

Challenges in Vietnam Construction Chemical Market

Trends & Developments in Vietnam Construction Chemical Market

Swot Analysis of Vietnam Construction Chemical Market

List of Vietnam Construction Projects

Major Mergers & Investments in Construction Chemical Industry

End User Analysis of Vietnam Construction Chemical Market

Covid-19 Impact on Vietnam Construction Chemical Market

Competition Framework of Vietnam Construction Chemical Market (Inception, global presence, manufacturing plants, business verticals, end-user, brands, Est. revenue)

Future Outlook to Vietnam Construction Chemical Market 2022E-2027F

Analyst Recommendation

For more insights on the market intelligence, refer to the link below:-

Vietnam Construction Chemical Market

Related Reports by Ken Research:-

Indonesian Construction Chemicals Market Outlook to 2025

India Construction Chemicals Market Outlook to 2025 ( Second Edition )

Thursday, January 12, 2023

Vietnam Construction Chemical Market is in the Growing Stage, Being Driven by Rapid Urbanization, Influx of FDI & Rising Government Investments: Ken Research

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1.  Rapid urbanization has been a major catalyst for Vietnam Construction Chemical market revenue which is expected to get doubled by 2027F

Construction Chemicals Market Size (in USD Mn), 2017-2022E

By 2027F, the Vietnam construction chemicals market is expected to grow at a robust rate. The market's expansion can be ascribed to rising urbanisation, increased expenditures in infrastructure and real estate construction projects, and the availability of cheap and abundant raw materials. Furthermore, the Vietnamese government aims to reduce greenhouse gas emissions by about ~8% by 2030 and is consistently focusing on eco-friendly and energy-efficient building development, thus the government has been promoting the use of green chemicals, which will further increase the demand for higher-quality building chemicals in the country in the coming years. The prominent companies in the Vietnam building chemicals market includes: Sika Limited (Vietnam), BASF Vietnam Co. Ltd., GCP Vietnam Company Limited, Mapei Vietnam Co. Ltd., and others.

2.  Tenders from commercial and industrial sector, Government initiatives and high FDI inflows are acting as the major growth drivers for the Vietnam Construction Chemical market

Industry revenue of construction (in USD Bn), 2017-2022E

Vietnam Construction Chemicals industry revenue stood at USD ~ Bn in 2022E and recorded a CAGR of 5.6% during 2017-2022E. Growth in Urbanization and Development of Housing Projects and Government initiatives has led to the growth for construction chemicals in Vietnam.

For instance, the Government has approved infrastructure projects like the construction of four airport in Sa Pa, Quang Tri, Lai Chau and Phan Thiet which are expected to kick off in the early 2023. More projects like Bac Tan Uyen Vietnam-Singapore Industrial Park III and Rach Mieu II Bridge are also in the pipeline. The government has also allocated US ~ $35 billion to its economic recovery plan for the 2022-2023 period in order to revive the economy from the Covid-19 impact. Furthermore, demand for high quality and durable products such as Admixtures for cements and waterproofing products have also contributed to the growth of chemical industry in Vietnam.

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3. With high level of Competition, Fluctuating Foreign exchange rate and Decreasing purchasing power are posed as the major challenges faced by the Vietnam Construction Chemical Market

major challenges faced by the Vietnam Construction Chemical Market

Covid-19 pandemic has drastically affected the purchasing power of the people real estate market. For instance, individual investors were offering lower prices to customers for land and houses in Ho Chi Minh City by about 30%, while companies gave discounts of 40-50% to boost stagnant sales. But Covid-19 is not the challenge, Fluctuating Foreign exchange rate are also a major problem as most of the raw material for construction chemical is usually imported in Vietnam and fluctuating exchange rate is affecting the market with its price points. The State Bank of Vietnam is facing multiple pressures in 2022 in managing the foreign exchange rate. Furthermore, growing competition and poor government policies are also affecting the market. Like, Joint venture with a local partner to manufacture product or Sell product through local distributor is a common trend to enter the market. The market has a margin upto 30% and with the recent developments in construction market let to reduction in the margin, thus a posing a threat to new entrants.

For more insights on the market intelligence, refer to the link below:-

Vietnam Construction Chemical Market

Related Reports by Ken Research:-

Indonesian Construction Chemicals Market Outlook to 2025

India Construction Chemicals Market Outlook to 2025 ( Second Edition )