Al Muqarram Group (AMG), the region’s leading chemical construction materials manufacturer, expects consistent sales growth of about 4.5% 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% 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% growth in sales revenue to hit the AED140 million ($38.12 million) mark by the close of 2021. AMG also estimates to register sales revenue in excess of AED150 million in 2022, which represents 20% growth. This growth, according to 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% during the same period while its exports surged by 30% 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% by 2022,” noted Badami.
NEW PRODUCT LAUNCH
As part of its product expansion strategy, AMG officially unveiled its latest addition to its product line-up - HVAC Contact adhesive at The Big 5.
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.
Al Muqarram Group has also been awarded the coveted DCL certification by the Dubai Civil Defence for its Firestop Silicone Sealant. This means that the company can actively participate in key construction projects in the UAE including Expo 2020.
The certification comes hot on the heels of the approvals by the Sharjah Civil Defence as well as the Abu Dhabi Civil Defence.-- TradeArabia News Service