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. As part of the extended partnership, Pidilite Industries will exclusively offer Indian customers with locally manufactured Jowat hot melts.

Starting in 2018, the sales and distribution of Jowat adhesives in India and neighboring countries such as Nepal, Bangladesh, and Sri Lanka have been exclusively managed by Pidilite Industries.

The construction chemicals industry is expected to experience robust growth over the next few years. Higher government spending on infrastructure and construction projects is expected to drive demand for construction chemicals. Governments in various countries, including in India, are increasing their investments in infrastructure development, which includes roads, bridges, and public transportation systems. This trend is expected to continue, leading to a higher demand for construction chemicals such as adhesives, sealants, and coatings.

Read More - Affordable housing sector is poised to receive a strong growth impetus in the United States in 2023

Read More - More and more paint businesses are entering the construction chemicals segment in India in 2023

The growth of the housing construction sector is also expected to fuel demand for construction chemicals. As populations continue to grow in urban areas, the demand for new residential properties is on the rise. This has led to an increase in construction activity, which in turn is driving demand for construction chemicals.

In 2023, firms operating in the construction chemicals industry are likely to enter into more such strategic partnerships to tap into the growing demand for their products. These partnerships can take various forms, including joint ventures, distribution agreements, licensing agreements, or co-branding arrangements. Access to new markets, sharing resources, and co-developing new products will be the key factors driving strategic alliances in the construction chemicals space from the short to medium-term perspective.

Read More - Modular construction is growing, but the industry is struggling to keep up with demand in 2023

Over the next five years, mergers and acquisitions deals are also expected to grow in the construction chemicals industry as firms seek to expand their global presence and gain more market share. By leveraging such deals, firms can quickly gain access to new markets, achieve cost savings, and expand their product portfolios, which can help them to maintain a competitive edge in the industry.

The strategic collaborations, coupled with mergers and acquisition deals, will keep driving the competitive landscape in the highly lucrative construction chemicals industry globally. ConsTrack360, therefore, maintains a robust growth outlook for the construction chemicals market over the next three to four years.

#Constructionchemicalmarketsize

#USConstructionchemicalmarketsize

#asiapacificconstructionchemicalmarketresearch

#Globalconstructionchemicalmarketresearch

#europeconstructionchemicalmarketreport


 


Comments

Post a Comment

Popular posts from this blog

Indian construction chemical market size expected to expand significantly over the next five years

Image
  After the effects of the pandemic outbreak started to subside, the Indian construction market has posted a strong growth recovery. The trend has further continued in H1 2023 on the back of higher government spending and housing construction activities. This growth in the broader construction market has also aided the growth of other construction-related industries, including construction chemical market. Firms in the segment, including those operating in the decorative paints category have showcased positive performance in terms of sales and volume growth in Q1 2023. The positive performance during the quarter has been largely driven by factors such as premium product offerings, distribution expansion, and new launches. Furthermore, the ease in prices of raw materials have also aided margin expansion for players in the decorative paints market in India. ·          Asian Paints, the leading firm in the Indian decorative paints market, r...
Read more

Rising inflation and interest rates impact sales and revenue of construction chemicals firm in Q1 2023

Image
  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 ...
Read more

The prefabricated construction market size is poised to grow in Saudi Arabia in 2023

Image
  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...
Read more