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Close To 60% Demand For India Construction Chemicals Market To Come From Infrastructure Projects Across India From 201-2031
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Key Takeaways from India Construction Chemicals Market Study
• In terms of regional growth, the north is expected to hold nearly one-third of market value share, and is expected to dominate over the coming assessment period as well. The southern and western regions do not lag far behind as far as demand is concerned.
• Market share of waterproofing chemicals and plaster is high in the Indian market as compared to the developed world, while the share of concrete repair mortar, protective coatings, and asphalt additives is low.
• Rising demand for infrastructure and development across states is projected to drive demand for construction chemicals, primarily for concrete admixtures.
• Protective coating manufacturers are working on continuous cost-reduction initiatives in order to fuel adoption rates.
• Increasing urbanization and government initiatives to develop rural areas, along with infrastructural development, are expected to drive demand for construction chemicals in the country over the coming years.
• Global key players are strengthening their presence in India through regional expansions. A common trend seen is that they have set up production facilities and service footprints across India, especially in eastern and north-eastern parts of the country.
• Infrastructure holds around 60% share in the market, when considering application areas.
• Due to the COVID-19 outbreak, the construction industry in India came to a standstill. As such, the construction chemicals market in the country experienced a CAGR of -12.1% in 2020, with the growth rate set to get back to normal levels from 2021 onwards.
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Market Landscape Continues to Remain Moderately Fragmented
Key manufacturers in the India construction chemicals market, such as Chembond Chemicals Limited, Master Builder Solutions, SIKA AG, The Dow Chemical Company, Pidilite Industries, Fosroc International, MAPEI Construction Products India Pvt. Ltd., Flowcrete India Ltd, etc., are focused on strengthening their product portfolios and expanding their market footprint through the acquisition of smaller companies in the market. With numerous players spread across the country, the constriction chemicals landscape in India will remain fragmented.
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