DUBAI, UNITED ARAB EMIRATES. : Al Muqarram Group (AMG), the region’s leading chemical construction materials manufacturer, expects to register consistent sales growth of about 4.5 percent in 2022 mainly from its flagship chemical sealants, adhesives and adhesive tapes.
Globally, the industry is also expected to grow at a compound annual growth rate of 4.5 to 5 percent by 2022, a trend that will ultimately boost the industry in the wake of an ongoing global health crisis.
The company is also expected to register 10 to 15 percent growth in sales revenue to hit the AED140 million mark by the close of 2021. AMG also estimates to register sales revenue in excess of AED150 million in 2022, which represents 20 percent growth. This growth, according to Mr. Safdar Badami, managing director, Al Muqarram Group, will largely be driven by a growing demand for fire-resistant chemical sealants and adhesives in the region.
Despite the subdued activity in the global construction sector, Al Muqarram Group performed exceptionally well throughout the pandemic period. “In the wake of the pandemic, we still managed to grow our business significantly. While local orders somewhat slowed down, we did experience a surge in export with a few countries continuing to place orders throughout the pandemic period. And despite the logistical challenges at the time, we were able to deliver the orders, which helped us keep our operations going. Our sales grew by 10 percent during the same period while its exports surged by 30 percent as export opportunities continued to open up in Sri Lanka, Maldives, Tunisia and Netherlands” said Badami.
Speaking at the sidelines of The Big 5 Building and Construction fair, Badami noted that the global and regional construction industry was now on an accelerated growth trajectory largely due to the steady resumption of stalled construction projects.
“The global construction sector is steadily growing at an encouraging pace. The aftermath of the global pandemic, which almost brought the industry to its knees, is now behind us and most companies are now back on their feet. The same applies to the chemical construction material sector, which relies heavily on construction projects. The construction chemicals industry is expected to grow by 4 percent by 2022” noted Badami.
As part of its product expansion strategy, AMG officially unveiled today its latest addition to its product lineup – HVAC Contact adhesive – at The Big 5 Building and Construction 2021 show. The new DCL-approved HVAC Contact adhesive, which is specifically designed for Phenolic and PIR ducts, is also expected to increase the scope of the application with different types of foams.
According to the Al Muqarram Group spokesperson, the new adhesive now firmly positions the Soudal-owned Al Muqarram Group a strategic competitive advantage in the regional chemical construction materials space.
“We are delighted to be introducing our latest product – the HVAC Adhesive – to the regional market. This is a quality product that has been designed with emerging needs in mind. Through our own internal research, the HVAC Adhesive will cater to a very specific need in the construction industry, which will boost the quality and safety of buildings not just in the region but internationally as well,” said Badami.