1. Malaysia Construction Chemical market has seen fluctuations in the growth due to the factors such as Political Instability, COVID Impact, Inflation Rate and competitive trends in the country.
Malaysia construction chemical market was largely affected by COVID impact in 2020. Due to COVID-19, the government had imposed the Movement Control Order (MCO) started 18 March 2020 and had extended until 31 December 2020. Companies were facing a shortage of skilled workers, mostly foreign workers. Many foreign workers were going back to their country. Moreover, there have been other factors at play that have hindered the industry progress. Political Instability and Inflation rate has also affected the market as it has acted as a major obstacle in the infrastructural growth in the country.
2. Organized market contributes ~65% of the overall market with the large number of international players operating in the country.
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The Malaysia Construction Chemicals Market has been divided into organised & unorganised sector both of which contribute 35.9% & 64.1% respectively. The organised sector is facing consolidation with large and leading players coming together to sustain competition from unorganized players. Merger and Acquisitions has been the major trend among the leading players while unorganized players have been greatly impacted by the COVID impact. Many players had to stop their operations. Due to the presence of multiple players the market has experienced “price sensitivity” of the product.
3. Construction Chemical Market in Malaysia is expected to rise in the west Malaysia owing to the industrial segment especially for Concrete Admixtures, Adhesives and Sealants
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Malaysia construction market is expected to grow at CAGR of ~5-6% (2022-2027). High investment by both domestic and international players in the construction segment is expected to bring high opportunity for construction chemical players to grow in the upcoming years. The Market is expected to register growth driven technological innovations. The government is working with a vision to develop industry to an advanced and modern level and making this sector as one of the high contributor of the economic development in the nation & multiple international & domestic companies is expected to introduce new technology in the market. Substantial portion of investment is expected to be directed toward infrastructure initiatives funded by the government which will require smart planning and execution. Moreover, major construction projects, including the revival of MRT3 and others as part of China’s Belt and Road Initiative, are expected to boost investment and spending in the sector. Furthermore, In June 2022, Mass Rapid Transit Corporation Sdn Bhd initiated the open tender process for MRT3 Circle Line’s four major contract packages. This project is expected to transform the construction industry in Malaysia.