Unorganized market share is close to 20% of the overall Construction Chemicals Market as of 2020, as per a report by Ken Research.
1. Covid-19 Impact on End User Infrastructure Sector also led to a jolt on the construction chemicals Market
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- Halt in production of inputs such as cement, iron & steel lead to the increase in prices.
- Serious impact on building materials and labor force.
- Cash flow was seriously affected in the residential, hospitality and retail segments.
- Supply chain was disrupted owing to delayed construction.
- Imposition of lockdown caused job losses of around 30%.
- Indonesia had a significant dependence on China for raw material imports as observed, which was hampered due to restriction on cross border movement.
2. While the impact on real estate market in Indonesia is among the worst, various initiatives such as fiscal incentives and credit relaxation will help in the recovery.
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The government is considering for implementing fiscal incentives and credit relaxations to allow relief to the construction additives sector.
Industrial and Housing sectors still remain the major source of investments.
Government projects such as One Million Home Project still continued during pandemic providing some relief.
3. Few major recent developments in Indonesian Construction Chemical Market- Mergers, JVs and Production Capacity Expansion driving the Market
The Master X-Seed STE Admixture launched by MBS is designed to make concrete production more efficient, by promoting concrete hydration, while enhancing strength safety factor by 15%.
Indonesia Triputra Group, enters into the Dry mortar and Tile Adhesive market by establishing a plant under the brand name “Mortindo”, to ensure their share in the growing market.
According to Mike Champion, Regional Manager, Asia Pacific, SIKA, Indonesia has shown huge demand growth and thus, SIKA is planning to invest further in Indonesian market.
Evonik opened up an expanded plant in Jakarta to increase their holding and supply capacity of raw materials and admixtures. The additional capacity afforded will help Evonik assure quality standards in their products.
For more insights on the market intelligence, refer to the link below:-
Indonesia Construction Chemical Market
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