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Retail Companies View Egypt as Opportunity for Growth in Construction Says Frost & Sullivan - Construction chemicals market expected to show steady growth over the next 5 years
Retail Companies View Egypt as Opportunity for Growth in Construction Says Frost & Sullivan

 

NewswireToday - /newswire/ - Cape Town, South Africa, 2012/07/16 - Construction chemicals market expected to show steady growth over the next 5 years.

   
 
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Amid the upheaval surrounding the Egyptian revolution, many construction projects have been delayed. Despite this, the resumption of private and government-funded projects in 2012 is set to drive growth in the construction chemical market at an expected compound annual growth rate of 4.9%. The construction chemical market in Egypt is currently valued at $125.3 million, and is expected to grow to $158.8 million by 2016.

An estimated 80.0% of construction chemicals are manufactured in Egypt with the exception of sealants, which are imported. The fastest growing chemical segments in Egypt include waterproofing and flooring. Potable water projects are growing at an annual rate of 10-15% and are likely to drive increased use of waterproofing chemicals over the long term. The growing construction of shopping malls, in line with a rising urbanisation rate of 2.1 per cent per annum, is increasing the demand for flooring chemicals.

"Egypt has a large and growing population; currently at 82.5 million people and growing at an annual rate of 1.9%. As a result, many international retail companies are viewing Egypt as a market with growth opportunities for construction", says Frost & Sullivan’s Chemicals Materials and Food Research Analyst, Bhavisha Jaga.

The housing deficit in Egypt is estimated to be at least one million units in 2011, of which 68% is required for low-income housing. Currently, over 60.0% of the population in Egypt is under the age of 30. Therefore, the demand for affordable housing is set to show strong growth for construction chemicals, such as admixtures and flooring chemicals, over the next five years. In line with the Government’s Vision for 2030, government plans to increase the number of new cities in desert areas from 17 to 59 cities by the end of 2017.

"There is a movement towards the establishment of acrylic epoxy factories, which facilitates the production of construction chemicals in Egypt", notes Jaga. "Epoxy-based chemicals are widely used in Egypt by domestic and multinational construction chemical companies in diverse applications, such as flooring and repair activity. Companies such as BASF and SIKA have a strong manufacturing presence in Egypt, supplying close to 70.0% of admixtures in Egypt".

The presence of a well established distributor network can make it cumbersome to enter and penetrate the market. However, a growing construction sector, expected to attract investments of $7.3 billion by 2015, coupled with a preference for domestically produced construction chemicals, creates substantial opportunity for new construction chemical companies to enter Egypt.

If you are interested in more information on this study, please send an email with your contact details to Samantha James, Corporate Communications, at samantha.james[.]frost.com.

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Retail Companies View Egypt as Opportunity for Growth in Construction Says Frost & Sullivan

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