Construction Chemicals Market to Cross value of US$ 101.6 Bn at a CAGR of 14% during 2021-2031

Construction Chemicals Market 2022

The Construction Chemicals Market is projected to reach a market value of US$ 101.6 Bn by the end of 2031, expanding at a healthy CAGR of close to 14% during the forecast period 2021-2031. The growth of the construction industry in India is expected to be one of the key factors driving the demand for construction chemicals in the country. Increasing urbanization and rising income levels are also expected to boost the demand for construction chemicals in India in the coming years. Some of the key players operating in the India construction chemicals market include BASF SE, Akzo Nobel NV, The Dow Chemical Company, Henkel AG & Co. KGaA, and 3M Company.

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Construction chemicals are usually added to construction materials in order to improve their strength, durability, workability, and other operational and functional properties, and encompass admixtures, water-proofing chemicals, adhesives and sealants, protective coatings, and asphalt additives. Increasing foreign direct investment in the country is expected to bolster the construction industry in India, especially infrastructure projects initiated by the government, thereby pushing demand for construction chemicals over the coming years.

Key Companies- 

• SIKA AG
• Master Builder Solutions
• Dow Chemicals
• RPM International Inc.
• MAPEI Construction Products India Pvt.. Ltd.
• Akzo Nobel NV
• Pidilite Industries
• Chembond Chemicals Ltd.
• Flowcrete India
• Fosroc International
• CICO Technologies Limited
• MC construction chemicals
• W. R. Grace & Co.-Conn.
• Saint-Gobain S.A.
• KERAKOLL India Pvt. Ltd
• Ardex Endura
• Magicrete
• Balmer Lawrie & Co. Ltd
• Cera-Chem Pvt. Ltd.
• Choksey Chemicals Private Limited
• MYK LATICRETE
• GCP Applied Technologies

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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.

"The Indian construction chemicals market is highly fragmented, and hence, competitive in nature, with the presence of a large number of local players. Demand is anticipated to rise with growth in urbanization and metro cities' speedy construction projects in the country," says an analyst at Persistence Market Research.

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Key Questions Answered in the Construction Chemicals Market Report

• How is the Construction Chemicals market expected to grow over the projected period?
• What direction is the Construction Chemicals market expected to take in terms of volume and value during the forecast period?
• What is the impact of macroeconomic factors on the Construction Chemicals market in future?
• What are the key market drivers in the Construction Chemicals market?
• What are significant opportunities and improvement areas for Construction Chemicals manufacturers?
• What are the key developments and trends taking over the Construction Chemicals market?
• Which are the emerging countries that are expected to create significant growth opportunities in the Construction Chemicals market?

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