Market Research Report
Outlook of the Construction Chemicals Market in Southeast Asia, 2020
|Published by||Frost & Sullivan||Product code||927983|
|Published||Content info||73 Pages
Delivery time: 1-2 business days
|Outlook of the Construction Chemicals Market in Southeast Asia, 2020|
|Published: February 27, 2020||Content info: 73 Pages||
Rapid Developments in the Building and Infrastructure Sector and Rising Demand for Products that Reduce Building Repair Time will Propel Market Growth
This research service presents the 2020 outlook for the construction chemicals market in Southeast Asia. It assesses several key countries in this region and highlights the top trends in market demand.
Development of innovative concrete admixtures with superior rheology and water retention capabilities and more stable workability is expected to be a growing trend in 2020. The goal is also to enable concrete producers to reduce material wastage and environmental impact. Additionally, in the field of waterproofing solutions, sulfuric-acid corrosion-resistant products are being increasingly preferred in chemical processing and wastewater treatment applications. Manufacturers are expected to identify products that could provide rapid and permanent reinstatement of the construction to be repaired, as time and cost savings for highway repairs are becoming increasingly important in Southeast Asia.
Foreign businesses are tapping into the Myanmar market, and industrial-area development is fuelling construction activity, which includes the development of three Special Economic Zones close to Yangon, Kyauk Phyu, and Dawei, along with multiple industrial parks. Government infrastructure projects such as the Denchai-Chiang Khong double-track rail project, and the Rama III road-western outer ring road motorway, along with residential construction growth are expected to propel construction activity in Thailand in 2020. Rapid growth in the energy and service sectors and development in railway and road infrastructure are expected to drive demand for construction chemicals in 2020.
Increasing demand for residential and commercial spaces, which is driven by the growing population and economic improvement, is expected to drive market growth in Cambodia. Construction growth in Vietnam in 2019 is expected to continue further in 2020, and the trend is visible with the Vietnamese government being keen on taking initiatives to develop the domestic steel industry and strengthen the indigenous steel supply to the construction sector.
Furthermore, the Malaysian government's revival of the East Coast Rail Link (ECRL) mega project, which was initially put on hold due to rising costs, along with simultaneous investment in other infrastructure projects, is expected to drive market growth for construction chemicals. Large infrastructure projects such as the Cross Island Line, developments at Jurong Lake District, and the Changi Airport Terminal 5 in Singapore are underway-apart from residential developments. The scenario is favourable for significant construction activity in 2020. Increasing investment from foreign as well as domestic construction companies in Indonesia is expected to contribute to construction growth in 2020, thereby favouring demand growth for construction chemicals. The establishment of transport infrastructure, such as the Metro Manila Subway project, is already underway, and the government has been encouraging foreign direct investment, with FDI from Japan and China expected to quicken construction activity, and thereby demand for construction chemicals.