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Report
South America Repair and Rehabilitation Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 100 Pages I Mordor Intelligence
The repair and rehabilitation market in South America is projected to register a CAGR of over 4% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Several countries imposed anti-dumping duty on the import of a certain variety of construction chemicals used in the construction industry in order to aid domestic producers. All the construction work and other activities were put on hold to curb the spreading of the virus, thereby negatively affecting the market. However, the market during 2021 and 2022 has grown steadily, owing to increased building and construction activities.
Key Highlights
Over the short term, bullish growth trends in construction in emerging economies, coupled with the increasing demand from the infrastructure sector, are major factors driving the growth of the market studied.
However, the lack of skilled labour is a key factor anticipated to restrain the growth of the target industry over the forecast period.
Nevertheless, the increasing development in sustainable building materials is likely to create lucrative growth opportunities for the market.
South America Repair & Rehabilitation Market Trends
Growing Demand from Infrastructural Sector
In the post-pandemic period, the construction industry in Brazil and Argentina was being supported by government funding giving the required boost to the economy to reach the pre-pandemic levels of development.
In 2021, the FDI inflows increased significantly in South America as compared to neighboring regions such as Latin America, the Caribbean, and Central America.
Furthermore, Colombia plans to speed up investments of USD 2 billion under the regional development program PDET over the next three years as part of the government's reactivation strategy. This program involves improving economic conditions in 170 municipalities that were heavily affected by the armed conflict with the FARC guerrilla. Investments will go to basic infrastructure, water, schools, and rural programs.
Chile's construction industry witnessed a resurgence after several years of downfall. The increased foreign direct investment, owing to the country's new FDI policy, was the major factor driving the industry growth. The government is changing legislation to decrease bureaucracy and speed up authorization processes and qualifications in response to the severe economic impact of the COVID-19 pandemic. In this context, 138 private projects worth a total of USD 24.5 billion have been targeted for construction to begin by the end of 2021. The latest estimated infrastructure investment for the 2020-2024 period is USD 34.8 billion.
Furthermore, Argentina initiated the green building movement. About 300 projects were registered in the country. Most of the green buildings are in Buenos Aires.
These factors will lead to the growth of the repair and rehabilitation market in the South America region in the forecast period.
Brazil Dominate the Regional Market
In Brazil, the construction sector accounts for more than 3.2% of the country's GDP. The country spends only 2% of its GDP on infrastructure, while the average percentage of GDP countries spend worldwide is around 4%.
The construction projects did not shut down in most of Brazil's 27 states, including Rio de Janeiro, Sao Paulo, and Minas Gerais-its three largest economies. An estimated 88% of housing, infrastructure, and industrial building projects remain in progress, according to Brazil's Building Construction Syndicate. Measures of physical distance and hygiene were adapted at job sites.
As per the latest Construction Industry Survey published by the National Confederation of Industry (CNI), in collaboration with the Brazilian Chamber of Construction Industry (CBIC), the construction activity index reached 50.1 in April 2022, which is the second consecutive month with a score above 50.
Furthermore, the business confidence indicator (ICEI) in the country for the construction industry improved in the first 5 months of 2022, and rose to 56.2 in May 2022, which is up from scores of 55.5 in April and 55.3 in March 2022.
The government further auctioned 44 infrastructure projects in 2020. Out of the 44 projects, 22 are airports conceded to the private sector. The government aimed to attract USD 24.6 billion in investments in these projects.
These factors are likely to lead to an increase in size of the market studied in Brazil in the forecast period.
South America Repair & Rehabilitation Market Competitor Analysis
The repair and rehabilitation market in South America is highly fragmented in nature. The major players include 3M, Akzo Nobel Chemicals AG, Arkema S.A, Mapei S.p.A, BASF SE, and others.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Recovering Construction Sector in Emerging Economies
4.1.2 Increasing Demand from Infrastructure Sector
4.2 Restraints
4.2.1 Lack of Skilled Labour
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION (Market Size in Value)
5.1 Product Type
5.1.1 Injection Grouting Materials
5.1.1.1 Cement-based
5.1.1.2 Resin-based
5.1.2 Modified Mortars
5.1.2.1 Cement-based
5.1.2.2 Resin-based
5.1.3 Rebar Protectors
5.1.4 Fiber Wrapping Systems
5.1.4.1 Carbon Fiber
5.1.4.2 Glass Fiber
5.1.5 Micro-concrete Mortars
5.1.6 Others
5.2 Sector
5.2.1 Commercial
5.2.2 Infrastructural
5.2.3 Residential
5.2.4 Industrial
5.3 Geography
5.3.1 Brazil
5.3.2 Argentina
5.3.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%) Analysis** / Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 3M
6.4.2 Akzo Nobel Chemicals AG
6.4.3 Arkema SA
6.4.4 BASF SE
6.4.5 Cyrela Brazil Realty S.A.
6.4.6 Construcciones el Condor S.A
6.4.7 Mapei SpA
6.4.8 Mitsubishi Chemical Holdings
6.4.9 Sika AG
6.4.10 SGS Chemicals
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Developments in Sustainable Building Materials
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