India Construction Chemical Market and Future Outlook

The construction chemical industry in India is still in its infancy, but it has the potential for significant expansion. With increasing government investments, infrastructural initiatives (such as Smart City, "Make in India," and Housing for All), and megaproject buildings across the country, the construction chemical sector is expected to rise. Even if the market is tiny, the future prospects for this industry are certain to be bright.

With a rising population, growing urbanization, and an increase in middle-class income comes a growing dependence on good infrastructure, Infrastructure plays a huge role in propelling other industries and India’s overall development and therefore plays a dominant role in providing livelihood to the labor force.

The rise in demand for construction chemicals depends on upcoming and ongoing construction activities. Almost one-third of the Indian population lives in urban areas and it is estimated that urbanization will grow phenomenally, which will have a positive impact on the industry.

India's Construction Chemical Market is expected to grow at a CAGR of 15%, from 2022-27, owing to increasing infrastructural activities across the nation. India has seen heavy investment in R&D, this has led to the emergence of new and better techniques of construction that gives an advantage in time, and cost, both in terms of generating profits from sales. RND increases the earning capacity of producers and leads to bigger profits.

Government Efforts-

The government of India has introduced the "Make in India" (MII) initiative to reduce the dependence of India on other economies of the world in sectors like railways, construction, mining, automotive, chemicals, pharmaceuticals, textiles, aviation, leather, etc.

Smart City plan in India has proposed investments in different cities, In the next 5 years 100 smart cities and 500 cities are going to invite investments from all around the world.

Further Key Findings

• Impact of Covid-19: The construction industry was one of the most hit by COVID-19, as it had already been dealing with a liquidity shortage as a result of the non-banking financial institutions' impact on the financial sector for more than a year. Because to a lack of money, several projects have gone undone. Because of shifting buyer tastes, those that were completed remained unsold.
• RCC Frame Construction: RCC technology is used to create different types of structures including components of building like walls, slabs, etc. This process uses a wide variety of construction chemical that has many benefits like enhanced strength, integrity, and overall cost reduction.
• Increasing and Young Population: India is the second largest populated country in the world with a sixth of total world's population. According to World Bank in 2019, India’s population stood at 1.366 billion. The Construction industry serves as an important link between the needs of a growing population and the people of India. Construction of various megaprojects is currently in progress.

Makreo Research and Consulting have published a study on Construction chemical performance in India titled, “India Construction Chemical Market and Future Outlook 2016-2027 – Demand by Product Type, End Use, Geography”; the study helps to understand the industry demand and supply and also assess the future performance.

There are several macroeconomic and microeconomic factors associated with construction chemicals and it is imperative to understand the correlation between those factors thus the study covers highly correlated factors. Market drivers and challenges have also been covered along with the Indian economy assessment. The report also entails a company assessment of the major players operating in the market in terms of their business developments and financial performance.

The report examines the construction chemical market in various parameters such as the increasing construction projects and increasing urbanization across the nation has increased demand for construction chemical products.

We have covered market revenue and forecast with detailed assessments of market segments such as market by product (Admixtures, Flooring & Waterproofing agents, Adhesives & Sealants, Protective Coating, and Others), market by type (Organized and unorganized), by End User (Infrastructure and Residential & Commercial) and market by geography in this section.

Company’s Mentioned: Pidilite Industries Limited, SIKA India Private Limited, 3M Co, DOW Chemical Company, BASF India Ltd., Arkema Group, Chembond Chemicals Ltd., W.R. Grace & Co., Mapei, CHRYSO

To know more about the research report, click on the below link:

India Construction Chemical Market and Future Outlook

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