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Multinational chemicals companies will be looking to establish strong footholds in Brazil, Colombia, and Chile, as these countries are emerging as hotbeds of construction activity.
New analysis from Frost & Sullivan (chemicals.frost.com), Latin American Market for Construction Chemicals, finds that market earned revenues of $1.46 billion in 2009 and estimates this to reach $2.05 billion in 2016.
If you are interested in more information about this study, send an email to Catalina Rossini, Corporate Communications, at catalina.rossini[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.
Owing to the rapid progress in the construction industry, the Latin American construction chemicals market is growing at a rate greater than the average region gross domestic product (GDP), presenting remarkable opportunities in sectors such as stadiums and urban infrastructure.
"Engineering and building specifications are becoming increasingly stricter in terms of product quality and performance, as the construction sector is striving to become more organized and professional," says Frost & Sullivan Research Analyst Alessandra Lancellotti. "This trend is forcing construction chemicals suppliers to provide better products to the market."
Suppliers are expecting this trend to intensify in the near future, as there is a proactive movement toward new chemistries and formulation mixtures research.
However, despite the ready availability of manufacturing technologies for construction chemicals, most technologies are imported from the companies' headquarters.
There is also a lack of experienced and well-trained workforce to apply innovative products in the construction sector, which hinders market growth and product development. Correct application gives long-lasting benefits such as better results and material savings, but the lack of skilled laborers could negate this advantage. Therefore, manufacturers have to develop products that are easy to apply and have first-rate properties even in varied application conditions.
"Meanwhile, manufacturers also need to invest on product diversification, as the construction chemicals market is composed of participants with similar ranges of products, most of them commoditized," notes Lancellotti. "Innovation can be a competitive advantage for such companies, since it will enable them to offer high-quality products with an interesting cost benefit ratio."
The market is expected to benefit from Latin American countries' drive to increase infrastructure investments to improve regional integration and reduce logistics costs through better transportation ways. The Latin American market will especially benefit from a spate of construction activities in Brazil, which has lined up a wide range of projects to improve its infrastructure in time for the World Soccer Cup in 2014 and the Olympic Games in 2016.
"Stadiums are being constructed and repaired, roads and subway stations are being built, and repairing projects are being promoted by hotel chains," observes Lancellotti. "With such overwhelming demand, the construction industry is likely to have its hands full and consequently, so will the construction chemicals market."
Latin American Market for Construction Chemicals is part of the Chemicals & Materials Growth Partnership Service program, which also includes research in the following markets: engineering plastics, biofuels, paints and coatings, food emulsifiers, and fertilizers, among others. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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Latin American Market for Construction Chemicals / N677
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