Press release
India Construction Chemicals Market is Anticipated to Reach a Value of US$ 21.7 Billion, at a CAGR of 13.6% by end of 2031
India Construction Chemicals Market
As per Future Market Insights' analysis, the India construction chemicals market is anticipated to reach a value of US$ 21.7 Bn by 2031 end, expanding at a CAGR of 13.6% during 2021-2031.
Commonly used construction chemicals in India includes admixtures, water proofing chemicals, adhesives and sealants, protective coatings, and asphalt additives. The demand for construction chemicals is largely driven by affordable housing residential projects, in addition to infrastructure projects initiated by the government. Foreign direct investments are also likely to boost the sales in the country over the coming years.
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However, the ongoing crisis caused by COVID-19 virus, has resulted in a short-term slump of production and distribution chains in the industry. Raw materials required for the production of construction chemicals are manufactured by chemical companies, which experienced a downturn during the pandemic as the supply chains were disturbed due to strict lockdown restrictions.
Furthermore, the construction sector in India was highly impacted by the pandemic, as ongoing and upcoming construction projects have been delayed or cancelled.
Key Takeaways from India Construction Chemicals Market Study
India Construction Chemicals Market will continue expanding, reaching a valuation of US$ 21,642 Mn by 2031, primarily driven by infrastructure investments.
Water proofing and protective coatings collectively holds more than 50% of the market share in the country's market, with impetus provided from renovation and repair applications.
Governmental spending in the construction chemical sector has risen by approximately 1.8 times owing to the "Make in India" scheme for infrastructure and industrial development.
North and South India account for 30% of the overall Indian construction chemicals market each, with major investments into smart city projects.
The COVID-19 outbreak has resulted the construction industry in India coming to a standstill. As such, the construction chemicals market experienced a CAGR of -12.6% in 2020.
"The India construction chemicals market has a highly fragmented vendor landscape, which has resulted in fierce competition in the market. However, demand for construction chemicals in the country is likely to rise with increasing urbanization and subsequently rising demand for urban residential construction projects through the end of 2031," said an analyst at FMI.
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Construction Chemicals Market Key Segments
By Product Type:
Concrete Admixtures
Plasticizers (lingo, SNF, PCE)
Accelerators
Retarders
Air Enterainers
Waterproofing Chemicals
Bitumen
PVC
EPDM
TPO
PTFE
Silicone
Acrylic Polymers
SBR - Styrene-butadiene
Cementitious Membrane
PU Membrane - Liquid-applied Membrane
Crystalline
Additives in Waterproofing
Protective Coatings
Epoxy
Polyurethane
Acrylic
Alkyd
Polyester
Others
Adhesives & Sealants
Adhesives
Tile Adhesives
Tile Grouts
Sealants
Concrete Repair Mortar
Plaster
Asphalt Additives
By Application:
Infrastructure
Commercial & Industrial
Residential
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Who is Winning?
The India construction chemicals market will remain fragmented due to strong presence of local players. Leading players are focusing on strengthening their product portfolio and expanding their market footprint through acquisition of smaller companies in the market.
Some of the key manufacturers of construction chemicals in India are BASF SE (Master builder Solutions), Pidilite Industries, The Dow Chemical Company, RPM International Inc., Mapei S.P.A., Magicrete Building Solutions pvt. Ltd., GCP Applied Technologies Inc., Akzo Novel N.V., Sika AG, Chembond Chemicals Ltd., Flowcrete India Ltd., Fosroc Holdings U.K. Limited, MC-Bauchemie, Balmer Lawries & Co. Ltd., Cera-Chem Pvt. Ltd., Choksey Chemicals Pvt. Ltd., MYK LATICRETE India, CICO Technologies Limited, Ardex Endura, KERAKOLL India Pvt. Ltd., and Saint-Gobain S.A. among others.
Explore FMI's Extensive ongoing Coverage on Chemicals & Materials Domain
Construction Chemicals Market: https://www.futuremarketinsights.com/reports/construction-chemicals-market
Construction Textile Market: https://www.futuremarketinsights.com/reports/construction-textile-market
Construction Aggregates Market: https://www.futuremarketinsights.com/reports/construction-aggregates-market
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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