India
Construction Chemicals market is anticipated to grow significantly through 2028
due to demand from the end-user industry. In 2020, the gross value added in the
construction industry across India increased by around 1.3 percent.
Construction
chemicals are being used more often in India thanks to new regulatory standards
and mandated certifications like the Green Building Code, the use of ready-mix
concrete in projects for metro rail in more than 20 cities, and the certificate
of product quality under the Real Estate Regulatory Authority (RERA).
According
to a recent study, India's real estate sector is expected to touch a USD 1
trillion market size by 2030, accounting for 18-20% of India's GDP. In contrast
to the required five homes per 1,000 residents, only around three new homes are
built annually. Therefore, these factors can propel the market’s
growth in the forecast years.
Rising Urbanization Trend
This general expansion in the
building industry, necessary to keep up with the increasing trend of urbanization,
is quickly stifling the market for construction chemicals. Due to growing
awareness of the advantages of using these compounds, which fundamentally
improve building properties, including compressive durability, strength, and
resilience to poor working conditions, the market for construction chemicals will
continue to grow quickly. It is also projected that middle-class residential
dwelling growth would boost market growth. Many emerging markets are
doing so due to increased migration to rapidly urbanizing cities. Residential
and non-residential will be built in greater numbers to meet the rising demand
brought on by urbanization. Along with residential buildings, there are also
buildings like movie theatres, shopping malls, hospitals, and restaurants. As a
result, the India Construction Chemicals market expansion will be accelerated
in the upcoming year.
High Investments
Opportunities
The government's
increased emphasis on eco-friendly substances and green construction standards
throughout the projected timeframe will benefit industry participants. Additionally,
significant investments in eco-binders and silicate binder systems are expected
to be undertaken by well-known market participants, which will support the
building chemicals industry's continued expansion. These factors increase
the demand for green construction chemicals and are predicted to drive market growth
in the forecast period.
Concrete Admixtures Will Continue to Be a Key Type
Concrete Admixtures
are substances added to the concrete mixture before or while it is being mixed.
By altering the characteristics of hardened concrete, concrete admixtures lower
the cost of building with concrete by assuring greater quality while being
mixed, transported, placed, and cured. This enables users to handle crises when
working with concrete. The decades-long development of chemical admixtures for
concrete is set to significantly improve residential constructions, modest
homes, mansions, offices, commercial buildings, entertainment industries, and
even skyscrapers. The market for concrete admixtures is increasing dramatically
due to India's growing construction industry, driving the growth of India
Construction Chemicals market.
For instance, under
PMAY-Gramin, the government of India planned to deliver 1.95 crore homes by
2022. Between 2016 and 2022, the project is anticipated to construct 1.71 crore
dwelling units, according to government statistics. It has been
extended until 2024, with a target of 2.95 million pucca dwellings, an increase
of 1 million.
Recent Developments
- In
December 2022, Saint-Gobain plans USD 217.7 million capex to expand
capacities in India in 2023.
- In
December 2021, Sika introduced the production factory and technical center
in Pune, Maharashtra, to produce high-quality adhesives and sealants.
- With
the introduction of a distinctive green product line in the category, JSW
Cement, India's top green cement manufacturer, has entered the
construction chemical market in June 2021.
- In
May 2021, according to the demand generated by new housing developments in
the nation, Kamdhenu Group declared that it expects to generate USD 1
billion from its paints segment alone over the next five years.
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Market Segmentation
India Construction Chemicals Market is
segmented based on type, end-use, and region. Based on the type, the market
is categorized into concrete admixtures, waterproof
chemicals, flooring compounds, and others. Based on end use, the market is fabricated into residential, commercial, industrial,
and others. Based on region, the market is divided into North, East, West, and South,
By Company.
Market Players
Sika India Pvt. Ltd., Pidilite
Industries Ltd., The Fosroc Group, Magicrete Building Solutions Pvt Ltd., MYK
Laticrete India Pvt Ltd, Mapei Construction Products India Pvt Ltd, Polygon
Chemicals Private Limited, ECMAS Group, Ruia Chemicals, Chembond Chemicals
Limited are some of the key players of India Construction Chemicals Market.
Attribute
|
Details
|
Base Year
|
2022
|
Historic Data
|
2018 – 2021
|
Estimated Year
|
2023
|
Forecast Period
|
2024 – 2028
|
Quantitative Units
|
Revenue in USD Million, Volume in Metric Tonnes, and
CAGR for 2018-2022 and 2023-2028
|
Report coverage
|
Revenue forecast,
volume forecast, company share, competitive landscape, growth factors, and
trends
|
Segments covered
|
·
Type
·
End Use
|
Regional scope
|
North, East,
West, and South
|
Key companies profiled
|
Sika India
Pvt. Ltd., Pidilite Industries Ltd., The Fosroc Group, Magicrete Building
Solutions Pvt Ltd., MYK Laticrete India Pvt Ltd, Mapei Construction Products
India Pvt Ltd, Polygon Chemicals Private Limited, ECMAS Group, Ruia
Chemicals, Chembond Chemicals Limited
|
Customization scope
|
10% free report customization with purchase.
Addition or alteration to country, regional & segment scope.
|
Pricing and purchase
options
|
Avail customized
purchase options to meet your exact research needs. Explore
purchase options
|
Delivery Format
|
PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request)
|
Report Scope:
In this report, India Construction Chemicals market has
been segmented into the following categories, in addition to the industry trends,
which have also been detailed below:
- India Construction
Chemicals Market, By Type:
- Concrete Admixtures
- Waterproof Chemicals
- Flooring Compounds
- Others
- India Construction
Chemicals Market, By End
Use:
- Residential
- Commercial
- Industrial
- Others
- India Construction Chemicals Market, By Region:
Competitive landscape
Company Profiles: Detailed analysis of the major companies in the India Construction Chemicals market.
Available Customizations:
With the given market data, TechSci Research offers customizations
according to a company’s specific needs. The following customization options
are available for the report:
Company
Information
- Detailed analysis
and profiling of additional market players (up to five).
India Construction Chemicals Market is
an upcoming report to be released soon. If you wish an early delivery of this report
or want to confirm the date of release, please contact us at [email protected]