According to SPER Market Research, the Vietnam Construction Chemical Market is composed of companies that produce, distribute, and use chemicals for the construction industry. These chemicals are used for a range of projects, such as waterproofing, restoring concrete, and flooring. The products on the market include chemicals used in adhesives, sealants, coatings, and waterproofing, to name just a few. The desire for durable, environmentally friendly construction materials that can withstand adverse weather conditions like heavy rain and high humidity has fueled growth in Vietnam’s construction chemical market. The growing understanding of construction chemicals’ benefits, such as improved durability, fewer maintenance costs, and enhanced aesthetics, among architects and construction companies has also had an impact on the business. One of the key trends in the Vietnamese construction chemical industry is the expanding use of environmentally friendly and sustainable construction chemicals. The underlying elements behind this trend are the rising environmental consciousness of consumers and government initiatives to foster sustainable growth. In general, the Vietnam Construction Chemical Market is expected to rise over the next years due to the country’s robust economic growth and rising investment in infrastructure development. Also, the requirement for innovative and environmentally friendly building chemical solutions is predicted to increase in the industry.
Vietnam Construction Chemical Market Overview:
- Forecast CAGR (2022-2032): XX%
- Forecast Market Size (2032): XX billion
The manufacturing, distribution, and usage of chemicals used in the construction sector for a variety of tasks, including flooring, waterproofing, and concrete restoration, is referred to as the Vietnam Construction Chemical Market. Chemicals used in adhesives, sealants, coatings, and waterproofing are only a few of the goods available on the market. Vietnam’s construction chemical market has been propelled by the demand for long-lasting and environmentally friendly building materials that can survive challenging weather conditions like intense rain and high humidity.
Impact of COVID-19 on the Vietnam Construction Chemical Market
The Vietnam Construction Chemical Market has been significantly impacted by the COVID-19 outbreak. The epidemic has caused supply chain interruptions, decreased demand, and a slowdown in the nation’s building industry. The Vietnamese government’s travel bans and lockdowns have caused a shortage of raw materials and delays in the delivery of building chemicals. Because of this, the cost of building chemicals has increased, which has decreased demand from builders and contractors. Because to the uncertainty brought on by the pandemic, several construction projects have been placed on hold, which has caused a slowdown in activity.
As a result, there is now less of a market demand for building chemicals. The epidemic has, however, also resulted in some advantageous changes for the market. The need for antibacterial and antiviral coatings, which can aid in halting the spread of COVID-19, has increased as a result of the increased emphasis on sanitation and hygiene. Also, the pandemic has increased attention on environmentally friendly and sustainable building practises, which is anticipated to boost demand for such items in the future. Overall, the COVID-19 pandemic has had a substantial influence on the Vietnam Construction Chemical Industry, resulting in decreased demand and supply chain disruptions. Yet, there are also chances for market expansion, particularly in the fields of antibacterial and environmentally friendly building methods
Vietnam Construction Chemical Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; BASF Vietnam Co. Ltd., Mapei Vietnam Co. Ltd., Sika Limited, The Dow Chemical Vietnam LLC, Vietnam Henkel Adhesive Technologies Co., Ltd.
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Vietnam Construction Chemical Market Key Segments Covered:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
Vietnam Construction Chemical Market Segmentation:
By Product Type: Based on the Product Type, Vietnam Construction Chemical Market is segmented as; 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: Based on the End-User Industry, Vietnam Construction Chemical Market is segmented as; Commercial, Industrial, Infrastructure and Public Places, Residential.
By Region: This report also provides the data for key regional segments of Northern Vietnam, Central Vietnam, Southern Vietnam.
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