Construction chemicals businesses are entering into collaborations to expand their product portfolio and capture more market share in 2023_constrack360.com
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...