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Southeast Asian Market for Construction Chemicals
Frost & Sullivan, July 2009, Pages: 279
This Frost & Sullivan research service titled Southeast Asian Market for Construction Chemicals analyzes and assesses the factors accelerating growth and those that restrict growth momentum in the construction chemicals market in Southeast Asia. The study provides an analysis of industry challenges, market drivers, restraints, market size, share of key participants, and future outlook of the market. In this research, Frost & Sullivan's expert analysts thoroughly examine the following segments: chemical admixtures, waterproofing compounds, flooring compounds, repair and rehabilitation compounds, sealants, grouts, and tile adhesives.
Market Overview
Government Accent on Infrastructure Development Bolsters Southeast Asian Market for Construction Chemicals
Prospects for the Southeast Asian market for construction chemicals look optimistic. The demand, mainly from infrastructure projects, is likely to support a compound annual growth rate (CAGR) of 7.3 percent for construction chemicals in Southeast Asia from 2008 to 2015. In mature markets such as Singapore, usage of construction chemicals is common, while it has not seen widespread adoption in Indonesia, Malaysia, Thailand, and The Philippines. 'To boost the economy, the governments of Singapore and Thailand have plans to invest $12 billion and $19 billion respectively for infrastructure development during 2009,' notes the analyst of this research service. 'Particularly in Indonesia, the government has ambitious plans for infrastructure development over the next five years as inadequate port, road, and airport infrastructure is proving to be a roadblock to development.'
The demand for lower-cost construction has highlighted the importance of faster completion time. This can be achieved by more prudent usage of construction chemicals. Customers are ratcheting up the rhetoric for lower costs in terms of material, energy, and capital on the one hand and for faster completion times for building projects, on the other. Currently, products are available to speed up the curing process for concrete and ensure that it is self-compacting. As this eliminates the need for vibration to de-air the concrete and the related equipment necessary for the process, efficiency is enhanced. Moreover, the need for steam curing is minimized.
Slump in Private Sector Projects will Hit Construction Chemicals Revenues in the Short-term
The current economic downturn has negatively impacted the residential building sector and there is a significant lack of investor confidence in this market. With residential property prices nose-diving, construction activity has declined considerably. Asian property developers are exercising caution and delaying residential projects and reconsidering others because the worldwide economic crisis has reined in funding and crimped buyer interest. However, government-led infrastructure drives will counter the downslide in this segment. 'Plunging private sector demand will be a major cause for restrained growth in the construction chemicals market,' says the analyst. 'Construction firms that rely heavily on private-sector projects face tough times ahead as more property developers delay building works; contractors that build private residential condominiums will feel the heat most.'
However, the construction process has a long gestation period and infrastructure development projects carried out in phases will influence the procurement pattern/demand for construction chemicals in Southeast Asia for the better. Further, the huge acceptance of ready-mix concrete and higher demand for advanced construction techniques has increased the overall demand for high-performance construction materials. Low productivity in the construction industry, which is labor intensive, can be overcome with increased usage of technology and construction chemicals. Maximizing of local input of materials can also cut the costs of raw materials.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By Geographic Region:
- Singapore
- Malaysia
- Indonesia
- Thailand
- The Philippines
Technologies
The following technologies are covered in this research:
- Chemical admixtures
- Waterproofing compounds
- Flooring compounds
- Repair and rehabilitation compounds
- Sealants
- Grouts
- Adhesives
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