Sika Group Inaugurates a Concrete Admixture Facility in Ethiopia
Ethiopia: Sika Group, a Swiss
specialty chemicals company, has established a new concrete admixture and
mortar production plant in Nigeria and Ivory Coast, Africa. The company has set
up this local production unit and it has also established subsidiaries in
Tanzania and Ethiopia to gain competitive advantage. The initiation of this new
factory is a strategic implementation to expand its business in the region as
the construction sector in the Sub-Saharan region is expected to grow by 11%
annually through 2025.
TechSci Research depicts that
with the initiation of this production facility in Africa, the company is
looking forward to strengthen its business position in the most promising
construction sector for future growth. Additionally, with the establishment of large
local production base in this region, the company will serve the growing demand
for concrete admixtures from GCC countries and other parts of the EMEA region.
According to the recently
published report by TechSci Research, “GCC
Construction Chemicals Market By Type, By
End User, Competition Forecast and Opportunities, 2011 – 2021 – Saudi Arabia,
UAE, Qatar, Kuwait, Oman & Bahrain”, the construction chemicals market in the
GCC countries is projected to grow at a CAGR of over 7% during 2016 - 2021, due
to rising government spending on construction projects coupled with increasing
participation by private players in the real estate sector. Additionally,
growing demand for modern residential complexes and commercial structures is expected
to drive demand for construction chemicals in the GCC countries through 2021.
Further, increasing need for economic diversification and reducing dependence
on oil reserves is prompting majority of the countries in the region to
increase expenditure on construction and infrastructure activities.
Construction chemicals market in the region is dominated by major global
players including BASF, FOSROC and Sika. Other major players operating in GCC
construction chemicals market include Dow Menat, Chryso Gulf and Saudi Basic
Industries Corporation.