Indonesian construction sector is expected to grow at a CAGR of about 10% over the period of 2022-2025, thus impacting the growth rate of construction chemical market as well, as per a report by Ken Research.
Low awareness of construction chemical is one of the major hindrances in the growth of the market in Indonesia
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- Usage of construction chemicals depend on performance of construction sector. Decline in construction activity will have negative impact on market.
- Potential Users are not aware about benefit of these products.
- Laborers don’t have technical knowledge and application know-how for usage of construction chemicals.
- The penetration of construction chemicals is low in Indonesia compared to other countries such as China and USA.
Threats faced by Global Construction Chemicals Industry
Changing Regulatory Environment and presence of international players are some future opportunities for the Indonesian Construction Chemicals Market
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Changing Regulatory Environment: Green building code, incentivizing energy efficiency will drive the usage of safe construction chemicals.
Good Presence of International Players: The market has a mix of MNCs and Local players, wherein MNCs are participating in the overall market, while local players are present in individual product categories and localized zones. This helps in increasing product offerings and market awareness.
Ininititaves taken by MNCs to in construction chemical Industry
Rise of Young Middle Class, Massive Infrastructure Development Push by the government and rise in Demand for Green Solutions are poised to drive the Construction Chemicals Market in Indonesia
Nearly half of Indonesia’s population is below the age of 30, with a rising middle class segment. The result is heightened demand for housing for a mass of populace entering their adulthood, which in turn drives up construction chemical sales in Indonesia.
Government has launched numerous initiatives such as the National Strategic Program, or Making Indonesia 4.0, to spark an infrastructural revolution. Under the leadership of President Joko Widodo, Indonesia has seen an increase of nearly 45% in the allocation of budget towards infrastructure development, especially to areas such as Kalimantan and Papua.
The demand for products with features like longer durability, environment friendly and anti-corrosion capabilities is increasing among consumers. In addition to this, stricter environmental regulations from Ministry of Public Works and Housing is also driving the demand for greener solutions. This has enabled companies to opt for eco friendly construction chemicals.
For more insights on the market intelligence, refer to the link below:-
Indonesia Construction Chemicals Market
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