Construction chemicals are widely used in the construction industry, globally to enhance structural properties of buildings and improve performance of concrete or other building materials under extreme environmental conditions. The construction industry in India is expected to grow at a healthy CAGR over the next few years, which would propel the market for construction chemicals in the country during the forecast period. The market for construction chemicals is broadly classified into five segments, namely Admixtures, Waterproofing Compounds, Flooring Compounds, Repair & Rehabilitation Chemicals, and Adhesive, Sealants & Other Chemicals.
According to the recently published TechSci Research report,“India Construction Chemicals Market Forecast & Opportunities, 2019”, the market for construction chemicals in India is forecast to exhibit a CAGR of around 18% during 2014-19.The market for construction chemicals in India is benefitting from growth in the real estate sector, which accounts for a major share of the market. The market has witnessed major investments recently, such as FOSROC Chemicals India Private Limited opening up a production facility in West Bengal, with a production capacity of 20,000 MT per year. Increasing rate of industrialization and upgradation of technology to process environment friendly construction chemicals is encouraging manufacturers to set up facilities for manufacturing allied products in the most efficient manner.
New government initiatives such as ban on on-site mixing has boosted the demand for ready-mix concrete, which is expected to boost the admixtures segment that accounts for the largest share in the construction chemicals market in the country. Stringent policies placing a ban on excavating sand bed is encouraged the use of other alternatives to sand, like crushed gravel and concrete mixture. This is expected to boost the demand for construction chemicals that offer high structural strength, similar to that of natural sand.
“The Government of India has allocated around USD1.025 trillion as investment for overall infrastructural development in India, under the 12th Five Year Plan. Fast track approval of stalled infrastructure projects under single window clearances is expected to boost the country’s construction industry, which would propel growth in the market for construction chemicals in India over the next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Construction Chemicals Market Forecast & Opportunities, 2019” has evaluated the future growth potential of the market for construction chemicals in India and provided the statistics and information on market structure, industry behaviour and trends. The report includes projections and demand forecasting for various market segments, namely Admixtures, Waterproofing Compounds, Flooring Compounds, Repair & Rehabilitation Chemicals, and Adhesive, Sealants & Other Chemicals. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in the market for construction chemicals in India.