Vietnam Construction Chemicals Market to Grow with a CAGR of 5.60% Globally through 2028

According to TechSci Research report, “Vietnam Construction Chemicals Market – Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, the Vietnam Construction Chemicals Market stood at USD 350.17 Million in 2022 and is anticipated to grow with a CAGR of 5.60% by 2028. This can be ascribed to collaborations and partnerships among leading companies with a diverse approach to merge the expertise of individual companies and to strengthen their position in the market.

As the demand for modern and durable buildings rises, the role of construction chemicals becomes increasingly significant. Among these, waterproofing solutions have emerged as a crucial driver of the Vietnam Construction Chemicals Market, ensuring the longevity and integrity of structures in a country prone to heavy rainfall and humid conditions. Vietnam's tropical climate exposes buildings to high levels of humidity and frequent rain, making them vulnerable to water-related damages. Uncontrolled moisture infiltration can lead to a range of issues, including weakened structures, mold growth, and deterioration of building materials. Waterproofing solutions address these concerns by providing a protective barrier that prevents water from permeating into structures, safeguarding their durability and reducing maintenance costs over time. Moreover, as Vietnam undergoes rapid urbanization and expands its infrastructure, the demand for waterproofing solutions has surged. Urban development often involves the construction of high-rise buildings, bridges, tunnels, and other critical structures.

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These projects require advanced waterproofing techniques to ensure the safety and longevity of the infrastructure, creating a substantial market for construction chemical manufacturers and suppliers. The real estate sector in Vietnam has experienced significant growth, fueled by increasing urban populations and a rising middle class. Homebuyers and property developers alike are increasingly recognizing the value of waterproofing in enhancing the value of their investments. Waterproofed structures offer improved livability, reduced maintenance costs, and enhanced resale value, driving the adoption of waterproofing solutions across residential, commercial, and industrial construction projects. Recognizing the significance of this sector, the Vietnamese government has taken proactive initiatives to support and stimulate the production of construction chemicals, thereby catalyzing the growth of the Vietnam Construction Chemicals Market. To ensure the safety, efficacy, and quality of construction chemical products, the Vietnamese government has established a robust regulatory framework and stringent quality standards. This initiative aims to build consumer trust, promote reliable products, and facilitate market growth. Moreover, by incentivizing the use of eco-friendly materials, such as low-VOC (volatile organic compounds) and non-toxic chemicals, the government contributes to both the health of the population and the preservation of Vietnam's natural resources.

This approach aligns with international standards and enhances the country's reputation as a responsible player in the global construction chemicals market. Efficient supply chains are crucial for delivering construction chemicals to project sites promptly. Collaborations between manufacturers and logistics companies have streamlined distribution networks, reduced lead times, and ensured the availability of products in remote areas. This has contributed to improved project timelines and customer satisfaction. Many global construction chemical giants have established partnerships with local companies in Vietnam. These collaborations bring international expertise, advanced technologies, and best practices to the local market, raising industry standards and encouraging the adoption of innovative solutions. Furthermore, partnerships have driven the development of advanced construction chemical formulations that offer improved performance, durability, and sustainability. These innovations address specific challenges posed by Vietnam's climate and construction practices.

However, fluctuations in the price of raw materials and growing environmental concerns are expected to slow down the growth of the market in the coming years.

The Vietnam Construction Chemicals Market segmentation is based on Type, End User, By Company, and Region.

Some of the major companies operating in the Vietnam Construction Chemicals Market include:

• Ecolab Vietnam Co. Ltd.

• Bestmix Corporation

• Solenis Vietnam Company Limited

• BASF Vietnam Co. Ltd.

• Kemira OYJ

• AkzoNobel Coatings Vietnam

• Baker Hughes Co., Ltd.

• Dow company Vietnam

• VATECH JSC

• Camix Company Limited

• Suez Water Technologies & Solutions Vietnam

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“Certain regions of Vietnam, particularly the central region, are projected to exert significant demand for construction chemicals in the country. The growth in the competitive landscape and the presence of well-established companies in the market, committed to enhancing their productivity of construction chemicals each year, are expected to contribute to a remarkable growth of the Vietnam Construction Chemicals Market in the forecast period," said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.

Vietnam Construction Chemicals Market, By Type (Concrete Admixtures, Waterproofing Chemicals, Flooring Compounds, Repair & Rehabilitation, Adhesives & Sealants, and Others), By End Use Sector (Infrastructure and Real Estate), By Region, Competition, Forecast and Opportunities, 2029 has evaluated the future growth potential of Vietnam Construction Chemicals Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Vietnam Construction Chemicals Market.

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