Vietnam Construction Chemical Market Growth and Size, Rising Trends, Revenue, Industry Share, Scope, Challenges, Future Opportunities and Forecast Analysis Till 2032: SPER Market Research
A variety of chemicals are used in the construction industry to improve the performance of structures and building materials. These chemicals are known as construction chemicals. These substances have a wide range of applications, including strengthening and protecting concrete against fires, waterproofing, and stopping metal buildings from corroding. To enhance the qualities of building materials like steel, wood, masonry, and concrete, construction chemicals are utilised. Admixtures for concrete, for instance, can be added to concrete to improve its strength, durability, and workability. To stop water from penetrating and damaging steel, concrete, or masonry surfaces, waterproofing chemicals can be used.
According to SPER Market Research, ‘Vietnam Construction Chemical Market Size- By Product Type, By End-User Industry- Regional Outlook, Competitive Strategies and Segment Forecast to 2032’ states that the Vietnam Construction Chemical Market is estimated to reach USD XX billion by 2032 with a CAGR of XX%.
Infrastructure development activities, such as the erection of residential buildings, commercial complexes, industrial facilities, and transportation networks, rise as a result of urbanisation and industrialization. Construction chemicals are needed for these projects for a variety of uses, including as sealants, adhesives, waterproofing compounds, and concrete admixtures. Therefore, it is anticipated that the increase in these projects and activities will fuel Vietnam’s building chemical market demand. The increasing urbanisation and industrialization of Vietnam have led to a greater focus on the longevity and quality of built environments. Building and infrastructure performance, strength, and durability are all improved by the use of construction chemicals. By strengthening total structural integrity, preventing corrosion, and improving water resistance, they improve the qualities of concrete.
Vietnam’s market for construction chemicals is in a pivotal state of change as increased environmental consciousness collides with fast urbanisation and infrastructural development. Sustainability and environmental concerns emerge as major challenges during the industry’s amazing rise. Wide-ranging environmental effects of construction chemicals might include soil erosion, loss of natural resources, and contamination of the air and water. It is a difficult task to make sure that the manufacture, use, and disposal of these compounds follow strict environmental regulations. One major obstacle is getting rid of garbage related to building and construction chemicals. To avoid contamination and damage to the environment, the sector needs to manage waste products in an eco-friendly and effective manner.
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The COVID-19 pandemic has had a major effect on the Vietnam Construction Chemical Market. The outbreak has resulted in disruptions to the nation’s supply chain, a decline in demand, and a slowdown in the construction sector. Travel restrictions and lockdowns by the Vietnamese government have resulted in a lack of raw materials and delays in the delivery of building chemicals. As a result, building chemicals are now more expensive, which has reduced demand from contractors and builders. Activity has slowed down as a result of the construction projects that have been put on hold because to the pandemic’s uncertainty.
The construction chemical market in Vietnam is dominated by the southern region, specifically Ho Chi Minh City and its surrounding areas. The country’s economic centre, this area is rapidly becoming more urbanised and industrialised, which increases the need for building chemicals. The key players of the market are BASF Vietnam Co. Ltd., Mapei Vietnam Co. Ltd., Sika Limited, The Dow Chemical Vietnam LLC, Vietnam Henkel Adhesive Technologies Co., Ltd.
Vietnam Construction Chemical Market Segmentation:
By Product Type:
- Adhesives and Sealants
- Concrete Admixture and Cement Grinding Aids
- Grouts and Anchors
- Industrial Flooring, Protective Coatings
- Repair and Rehabilitation
- Surface Treatment, Water Proofing
By End-User Industry:
- Commercial
- Industrial
- Infrastructure and Public Places
- Residential
By Region:
- Northern Vietnam
- Central Vietnam
- Southern Vietnam
For More Information, refer to below link:-
Vietnam Construction Chemical Market Outlook
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