The Indian construction chemical market is expected to grow at an imposing 17.2% CAGR between 2014 and 2020. According to FMI reports, the temporary suspension of construction activities in the public and private sector are having a negative impact on the Indian construction chemicals market. Disruptions of supply chains and restrictions on trade are also hurting market prospects in the near term.
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India Construction Chemical Market – Important Takeaways
Concrete admixture is highly sought after, supported by favorable government policies towards affordable residential projects.
Repair and rehabilitation applications are gaining traction owing to a large number of aged buildings and infrastructure.
Use of construction chemicals for commercial buildings is key to market revenue, supported by tech industry expansion in the country.
Northern region is witnessing rapid growth owing to investments from manufacturing and service companies.
India Construction Chemical Market – Driving Factors
Easy availability of essential raw materials at low cost is anticipated to increase demand for construction chemicals.
Industrialization and urbanization, including smart city projects are creating lucrative opportunities.
High use of concrete and admixtures for infrastructure projects are crucial to market revenue growth.
India Construction Chemical Market – Leading Constraints
Strict regulations associated with construction chemical product standards hampers market growth.
Cyclical nature of the Indian construction industry limits opportunities for market players.
Expected Impact on Market by Coronavirus Outbreak
The Indian construction industry is gradually on its way to restarting operations, albeit with strict regulations on working conditions, as health risks from the coronavirus are still running high. However, supply chain disruptions and worker shortages in the industry will cause substantial delays in work hurting the demand for construction chemicals in the near future.
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Competition Landscape
Some of the top players operating in the India construction chemical market are CICO Technologies, BASF India, Chembond Chemicals, Pidilite, Forsoc Chemicals, and Sika India Pvt. Ltd. Market players are pushing for long term contracts and product marketing strategies to sustain sales. For instance, Pidilite has set up an extensive marketing campaign targeting its waterproofing chemical products for preventive maintenance purposes.
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
Cementitious
Epoxy
Tile Grouts
Cementitious
Epoxy
Masonry Mortar
Sealants
Silicone
MS Hybrid
PU
Weatherproof Silicone
Polysulfide
Concrete Repair Mortar
Cement-based
Epoxy-based
Micro Concrete
Plaster
Cement-based
Gypsum-based
Asphalt Additives
By Application:
Infrastructure
Commercial & Industrial
Residential
By Region:
North
South
East
West