ConsTrack360

  In Saudi Arabia, the modular construction industry is poised to record strong growth over the next five years. The prefabricated construction market size is expected to reach SAR 14.5 billion in 2023, according to ConsTrack360 estimates. This growth will be driven by the increasing investment led by domestic and global construction firms in the Saudi Arabian market in 2023. ·          AMANA, one of the leading construction firms in the Kingdom, announced the opening of a new factory in Rabigh for modular construction in March 2023. With the new facility, AMANA aims to further consolidate its position in the modular construction segment in the Kingdom. The establishment of the new factory is a response to the increasing demand for offsite manufacturing technologies, facilitated by DuBox, a subsidiary of AMANA. Furthermore, ConsTack360 expects the new manufacturing facility to play a pivotal role in the successful delivery of several am...

  The macroeconomic environment, including rising inflation, interest rates, and the ongoing war between Russia and Ukraine, is having an impact across different industry verticals, including the global construction market. Construction chemical firms are also experiencing the impact of these factors amid the cooldown in the building sector. ·          Swiss chemical maker Sika AG (Sika)   reported a 3% decline in Q1 2023. Notably, the sales declined to 2.35 billion Swiss francs during the period, compared to 2.39 billion Swiss francs. In local currencies, the sales increased by 1.2% during the first quarter, which is down from a 21.9% increase in local currency sales in Q1 2022, during which the firm benefited from a construction boom fueled by low interest rates and pent-up demand following the global pandemic outbreak. While the first quarter has been a challenging period for the Swiss chemical maker, the firm has announced that ...

  The market for construction chemicals products  is expected to grow significantly over the next five years. To capture the growing market, many new players are entering the segment with millions of dollars announced in capital expenditure to launch products in the fast-growing categories, such as waterproofing. To stay competitive in this market, existing construction chemical businesses  are turning to collaborations to expand their product portfolio and capture more market share. ·  In March 2023, CB Chemie announced that the firm had entered into a strategic alliance with Synthomer. The collaboration will enable CB Chemie to expand its portfolio in the construction chemicals space, which also includes paints and coating chemicals. ·  In March 2023, Pidilite Industries, one of the leading construction chemicals businesses in India, also announced that it had strengthened its partnership with Jowat SE, a German family-owned business of industrial adhesives. A...

  The global cement industry outlook remains robust over the next 12 months. Driven by higher infrastructure spending and undertaking of massive affordable housing programs is expected to drive cement consumption in the global market. Consequently, many players have been seen expanding their production capacity to capitalize on the projected demand for cement from the short to medium-term perspective. To expand their production capacity, cement manufacturers have been raising capital through share sales. For instance, ·          In March 2023, Shri Keshav Cement & Infra Limited, a leading manufacturer of cement, announced a fund-raising initiative through the preferential issue of equity shares and equity share warrants. Through the initiative, the firm is intending to raise nearly INR 460 million, which the firm plans to use for expanding cement production capacity. Currently, the firm produces 3,50,000 MTPA and plans to expand the c...

  In the Union Budget, the Indian government has announced increased spending on housing and infrastructure-related projects. For the Pradhan Mantri Awas Yojana (PMAY), for instance, the government has increased the allocation by 66% to INR 790 billion. The growing investment will not only increase the supply of affordable housing in the country but will also drive the growth of the construction chemicals market from the short to medium-term perspective. Along with the housing sector, the Indian government has also announced higher spending on infrastructure development. For instance, the government has increased the allocation by 14% to the National Highways Authority of India. A total of INR 1.6 trillion has been allocated for the development of roadways and highways. Furthermore, the government also announced a record INR 2.4 trillion for the Ministry of Railways. The growing spending on infrastructure projects will again support the construction chemicals industry in India o...

  The Middle East has emerged as a leading tourism destination after the pandemic-induced restrictions were lifted globally. The significant rebound in the tourism sector has resulted in the undertaking of many new hotel development projects across the Middle East in 2022. Diriyah Gate, for instance, announced 16 new hotels are slated for construction at the US$50 billion giga-project. Some of the hotel brands planning to launch the project at Diriyah Gate include Faena, Corinthia, Hyatt Palace, and Taj, among others.  Read More - The public and private investment in the construction industry will drive the infrastructure boom in Saudi Arabia More global hotel brands are projected to undertake new construction projects in 2023, as the rebound in tourism activities continues over the next 12 months. The spending towards these construction projects is expected to lead to the growth of the commercial construction market in the Middle East . ·      ...