Focus On Rising Urbanization and Strong Government Initiatives Are Major Factor Contributing Towards Development of Construction Chemical Market in Vietnam.
Influx of Foreign Direct Investment: The demand for investment in factories and industrial parks has increased strongly in Vietnam, leading to an increase in the demand for construction chemical and attracting investment inflows. For instance, In Central Region, by end of June 2022, ~90 projects were under construction with a value of USD ~13 Bn which includes many major manufacturing projects: Textile & Garment, Agriculture & Feed, Energy, Electronics and Food & Beverages etc. Furthermore, Northern and Southern market of Vietnam are largely affected by the FDIs, as there are hundreds of projects under construction with investments of USD ~billion. At the end of June 2022, many expansion projects have been implemented and are expected to continue to be the trend of the industrial construction segment in the near future.
Merger & Acquisition: Mergers & acquisitions, product portfolio expansion and supply agreements are some of the business development strategies which has contributed to the growth in construction chemical industry. For instance, in November, Sika has signed a definitive agreement to acquire MBCC Group, the former BASF Construction Chemicals for a consideration of EUR ~ billion, Saint-Gobain has made ~30 acquisitions and ~15 investments and has also invested in multiple sectors such as Advanced Materials, Display Technology and more. Another example is of MC. They have acquired a majority of the shares in BIFI JSC, Vietnam, a leading Vietnamese manufacturer of concrete admixtures and grinding aids for the cement industry. With all these mergers, acquisitions and investments, the Vietnam construction chemical industry has seen a tremendous growth.
Availability of cheap & abundant Raw Material: With abundant mineral resources, Vietnam has many advantages in producing construction materials in the country and with this advantage the industry has made a remarkable progress both in terms of quality and quantity. Furthermore, the implementation of free trade agreements and the associated removal of tariff barriers has also helped Vietnamese enterprises to expand the import of raw materials, further fueling the growth of construction chemical industry.
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.
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 )
