Editorial December-2020 Construction Chemicals-Growth Story
Recently I was researching about the construction chemicals market in India. It seems the next phase of growth is in the construction chemicals as we strive to build a robust infrastructure for the country both in rural and urban India. There has been increasing demand for construction chemicals to improve efficiency and strength, and impart significant lifecycle benefits to the construction put in place. The Indian government had planned the construction of 15,000 km (9,320 m) of roads in 2016-17 whereas, the actual construction was pegged at 8,200 km. However, it is the highest construction figure in terms of km of road constructed per day till date. Significant demand for infrastructure and development across states in the country is projected to drive the demand for construction chemicals, primarily admixtures.
According to a newly published report by Persistence Market Research (PMR), the India construction chemicals market value was around US$ 6 Bn in 2018.
Key Takeaways of India Construction Chemicals Market Report
Easy availability of raw materials such as cement, additives, sand, etc., at economically-feasible prices, is expected to increase the demand for tile adhesives in the India construction chemicals market.
High usage of concrete in the construction industry, adoption of new techniques in construction, and huge demand from end-use industries have paved the way for the growth of the concrete repair mortar segment.
Significantly rising construction activities, owing to rising industrialization, is projected to propel the growth of the industrial & commercial segment over the forecast period.
The cyclic nature of the construction industry, along with stringent regulatory processes, is hampering the growth of new construction projects in the market to a certain extent.
The residential sector accounted for around 80% share of the total real estate sector in India. The real estate sector’s contribution to India’s GDP is expected to increase 13.5% by 2029. Thus, housing and residential development & construction growth are together projected
to drive the India construction chemicals market over the coming years,” says a PMR analyst.
India Construction Chemicals Market: Competition Landscape
The India construction chemicals market is fairly fragmented, due to the presence of small-scale manufactures across the country. Some of the key industry participants identified across the value chain of India construction chemicals market are Chembond Chemicals Limited, BASF SE, Sika AG, The Dow Chemical Company, Pidilite Industries, Fosroc International, MAPEI Construction Products India Pvt. Ltd., Flowcrete India Ltd, CICO Technologies Limited, MYK LATICRETE India, Ardex Endura, KERAKOLL India Pvt. Ltd, Akzo Nobel NV, RPM International Inc., Saint-Gobain S.A., etc. These players are focusing on improving their market presence through the acquisition of local distributors and manufacturers.
New Infrastructure Projects
Rapid increase in urban population is primarily being witnessed in metro cities of the country, and this has a significant impact on economic development. Moreover, non-metro cities follow suit to such development schemes, and has resulted in rapidly growing urbanization, which represents growth opportunities and challenges for several end-use industries. Thus, PMR has considered urbanization as one of the key forecast factors for the India construction chemicals market. References/Abstract taken from a research Report: Persistence Market Research
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