Market Size of Africa Construction Chemicals Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Africa Construction Chemicals Market Analysis
The African construction chemicals market is expected to register a CAGR of over 3% during the forecast period.
COVID-19 has slowed construction activity, resulting in a drop in demand for construction chemicals. Supply chain disruptions and labor shortages have exacerbated the situation. Furthermore, the drop in oil prices has had a negative impact on the market, as it has reduced government spending on infrastructure projects. However, in 2021 the market recovered as governments invested heavily in infrastructure projects to stimulate economic growth.
- Over the short term, the need for construction chemicals is being driven by construction activities, a rising population, and urbanization in the area.
- However, the high cost of construction chemicals is expected to hamper the market growth.
- Nevertheless, opportunities for the market over the forecast period may emerge from the future market for green building materials. The growing demand for energy-efficient and sustainable building materials is expected to create opportunities for the African construction chemicals market.
- In terms of revenue, South Africa is expected to dominate the African construction chemicals market during the forecast period.
