Last Updated on April 28, 2023 by Admin
Indian construction chemicals and waterproofing market
The global Building & Construction Chemicals Market is expected to reach USD 76.00 Billion by 2026, according to a new report by Reports and Data. The Indian construction chemical and waterproofing Industry market is also expected to grow by the significant numbers.
As reported by The Economic Times Realty, Sanjay Bahadur, Pidilite Industries said that “India’s construction chemical market is still at a nascent stage. However, it has huge potential in the real estate industry, in the near future; India’s construction chemicals market is projected to exhibit a CAGR of more than 15% by 2023. Additionally, the growing adoption of Green Building concept and increasing government regulations pertaining to the use of high-quality waterproofing systems with low VOC and insulation would further propel the demand for quality construction chemicals in the coming years.”
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The general observation of the market shows that India is progressing rapidly in every industry sector. With rapid advancements taking place in every sphere, exponential growth is foreseen in India’s construction and construction chemicals market. This research report titled ‘Construction Chemicals Market: India Industry Analysis 2012 – 2016 and Forecast 2017 – 2025’ reveals that the market is expected to reach a valuation of over US$ 2,600 Mn by the end of 2025, growing at a robust CAGR of 13.7% during the forecast period.
Over past few years, increasing infrastructure development activities, investment in commercial and residential housing and renovation activities of historical monuments, water retention structure, bridges, and other civil structures have led to significant consumption of construction chemicals across India.
The Industry Leaders in the construction chemical market
The Indian construction chemicals market is believed to be dominated by
- BASF India Limited,
- SIKA India Private Ltd.,
- Fosroc Chemicals India Pty. Ltd, and
- Pidilite Industries Limited,
Which together contribute around 30%-80% of the market revenue. Among these companies, Pidilite marked the highest revenue generation of around US$ 840 Mn in 2016. There are other companies too, which are expected to expand vigorously in India’s construction chemicals market, with concrete admixtures emerging as the most preferred product type.
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The latest research report suggests that the companies capitalizing on concrete admixtures will have a positive growth trajectory as this particular product is expected to hold a market value of over US$ 1,200 Mn by the end of 2025. However, in terms of growth rate, waterproofing chemicals leads the market and is expected to register a higher CAGR of 14.4% during the forecast period.
The other significant construction chemicals manufacturers include W.R. Grace (U.S.), RPM International (U.S.), The Dow Chemical Company (U.S.), Arkema S.A. (France), Ashland Inc. (U.S.), MapeiS.p.A (Italy), Pidilite Industries (India), and other local players.
India Construction Chemicals Market: Drivers and Trends
Government regulations formulated for promoting the concept of ‘Green Revolution’, increase in foreign investment, urbanization and growing preference for utilization of ready-mix concrete (RMC) are some of the prominent factors driving growth in the construction chemicals market in India.
However, some of the challenges in this market are low availability of skilled manpower, volatility in raw material prices and lack of interest for implementation of quality standards by infrastructure developers.
Some major trends in India construction chemicals market are the increase in investment in R&D, entry of new players, adoption of sustainable products and technological advancements. The Asian region is turning out to be a focus point for most of the major construction chemicals companies for investment in R&D. Rising construction of new buildings and renovation activities across India is expected to boost the overall demand for construction chemicals in the near future.
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Regional Overview of the India Construction Chemicals Market
From the regional perspective, India construction chemicals market is segmented into the northern region, eastern region, western region, and southern region. Currently, the northern region is expected to experience the highest CAGR of 17.8% as compared to other regions. The southern region is likely to create an opportunity which is three times the value in 2013. The southern region comprises the states of Tamil Nadu, Andhra Pradesh, Karnataka, and Kerala. This region realizes the potential of IT services and hence are able to attract significant investment from these service and manufacturing companies. Chemical and engineering industries are the main drivers of growth in the western region, particularly in Maharashtra and Gujarat.
Product Segment Overview
India construction chemicals market is segmented as admixtures, flooring chemicals, waterproofing compounds, adhesives & sealants and repair, rehabilitation & others. Adhesives & sealants and admixtures market is expected to contribute collectively 61.2% share by 2020. It is anticipated that there will be a decline in the growth of the repair, rehabilitation & others segment from 12.7% in 2014 to 11.9% in 2020, indicating a lack of inspection and maintenance in the construction industry in India.
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Indian construction chemicals market SegmentÂ
- Adhesives and Sealants
- Admixtures
- Flooring Chemicals
- Water Proofing
- Repair, Rehabilitation & Others
- Concrete Admixtures
- Roofing
- Repair
- Waterproofing
- Sealants & adhesives
Industry sectors covered
- Infrastructure Sector
- Residential and Commercial Real Estate Sector
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Conclusion
The India construction chemicals market is at a nascent stage and is attracting a lot of attention from foreign as well as domestic market participants including infrastructure developers, chemical manufacturers and institutional investors regarding set up of construction chemicals production facilities making a foray into manufacturing operations in India. By considering all the above data we assume that in the coming years’ significant career opportunities would be available for the qualified engineers and construction professionals.
References:
https://www.futuremarketinsights.com/reports/india-construction-chemical-market
https://www.persistencemarketresearch.com/mediarelease/india-construction-chemicals-market.asp
https://www.masterbuilder.co.in/construction-chemical-trends-and-market-overview/
https://www.globenewswire.com/news-release/2019/03/27/1774230/0/en/Building-Construction-Chemicals-Market-To-Reach-USD-76-00-Billion-By-2026-Reports-And-Data.html
