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.
The COVID-19 outbreak has had a substantial impact on the Vietnamese market for construction chemicals. The pandemic has slowed down the country's construction industry and disrupted the supply chain. A lack of raw materials and delays in the delivery of building chemicals are because of the Vietnamese government's travel restrictions and lockdowns. As a result, building chemicals are now more expensive, which has reduced demand from developers and contractors. There has been a halt in activity as a result of the suspension of various construction projects due to the uncertainty brought on by the epidemic.
As a result, the market demand for building chemicals has decreased. But the epidemic has also brought forth some favourable improvements for the industry. The increased focus on sanitation and hygiene has raised the demand for antibacterial and antiviral coatings, which can help stop the spread of COVID-19. The pandemic has also raised awareness of green and sustainable building practises, which is expected to enhance demand for such products in the future. The COVID-19 pandemic has, overall, had a significant impact on the Vietnam Construction Chemical Industry, leading to lower demand and supply chain disruptions. Yet, there are also opportunities for market growth, particularly in the areas of antibacterial and eco-friendly construction techniques.
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.
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.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.