PUBLISHER: The Insight Partners | PRODUCT CODE: 1592602
PUBLISHER: The Insight Partners | PRODUCT CODE: 1592602
The Middle East & Africa construction additives market was valued at US$ 3,077.88 million in 2022 and is projected to reach US$ 4,862.41 million by 2030; it is estimated to record a CAGR of 5.9% from 2022 to 2030.
Development of Sustainable Construction Additives Bolsters Middle East & Africa Construction Additives Market
Governments of various countries have imposed a few regulations on using sustainable chemicals to manufacture products in processing industries, including chemicals & materials and paints & coatings, to ensure better protection of human health and the environment. These regulations are set to reduce greenhouse emissions and have compelled polymer manufacturing companies to increase investments in developing naturally derived raw materials. Rising awareness regarding greenhouse gas (GHG) emissions is projected to surge the demand for bio-based and sustainable polymer products. Governments of various countries are adopting several initiatives to increase the awareness and development of bio-materials and recycled materials.
In 2022, Evonik Industries AG launched a sustainable dispersing additive for pigmented coatings and pigment concentrates. In 2021, Kao Performance Chemicals launched an asphalt additive made from recycled plastic (Polyethylene Terephthalate) bottles. The product NEWTLAC 5000 is an additive with high durability and oil resistance. Moreover, NEWTLAC 5000 pavement is less susceptible to damage from heavy vehicles.
Nouryon launched sustainable ingredients for the asphalt market in 2019. The company launched Wetfix G400, a non-amine adhesion promoter derived from renewable resources. Wetfix G400 is aimed at meeting customers' needs for a sustainable alternative that maintains asphalt mixture performance and durability. Adhesion promoters are added to asphalt used in road construction and maintenance to protect from damage caused by moisture and extend the service life of asphalt pavement. However, conventional adhesion promoters are incompatible with polyphosphoric acid (PPA), which is growing in popularity as an economical way to modify asphalt binders to the desired performance level. Therefore, the development of sustainable construction additives is expected to drive the construction additives market.
Middle East & Africa Construction Additives Market Overview
A rise in demand for construction materials due to a surge in infrastructural projects, sustainable construction, and industrialization in the Middle East & Africa drives the demand for construction and building materials. The construction of commercial infrastructure has upsurged in the region due to the growing tourism industry and the rising immigrant population. The rising urban population has surged the demand for private residential buildings in semi-urban and urban cities, prompting governments to invest in the building & construction industry. In the last ten years, the UAE government has invested extensively in airport developments and expansion projects, including US$ 7.6 billion in the Dubai International Airport Expansion Phase 4, US$ 8.1 billion in Al Maktoum International Airport in Dubai, US$ 6.8 billion in Abu Dhabi Airport development and expansion plans, and ~US$ 400 million in Sharjah's International Airport terminal expansion.
In 2021, the construction of the Jeddah Corniche Circuit (Saudi Arabia) was finished, which involved the utilization of 37 thousand metric tons of asphalt, 600 thousand metric tons of cement, 30 thousand square meters of bricks, and 1.4 thousand metric tons of glass. The increasing need for residential and commercial buildings in the Middle East & Africa is expected to create lucrative opportunities for bitumen, bitumen additives, and other building materials in the Middle East & Africa. Rising construction activities across the region and increasing government spending on infrastructure development via programs such as Saudi Vision 2030 and Abu Dhabi Economic Vision 2030 are also expected to positively impact the construction additives market from 2022-2030.
Middle East & Africa Construction Additives Market Revenue and Forecast to 2030 (US$ Million)
Middle East & Africa Construction Additives Market Segmentation
The Middle East & Africa construction additives market is categorized into type, application, and country.
Based on type, the Middle East & Africa construction additives market is segmented into cement additives, concrete admixtures, precast concrete, ready-mix concrete, paints and coatings additives, adhesives and sealants additives, plastic additives, bitumen additives, and others. The cement additives segment held the largest market share in 2022.
In terms of application, the Middle East & Africa construction additives market is categorized into residential, commercial, infrastructure, and others. The residential segment held the largest market share in 2022.
By country, the Middle East & Africa construction additives market is segmented into the South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the Middle East & Africa construction additives market share in 2022.
W. R. Grace & Co, Chryso SAS, Dow Inc, BASF SE, Heidelberg Materials AG, Cemex SAB de CV, Fosroc International Ltd, Sika AG, Evonik Industries AG, RPM International Inc, Mapei SpA, Holcim Ltd, and Consolis Group SAS. are some of the leading companies operating in the Middle East & Africa construction additives market.