Primary application of construction chemicals is to improve strength, durability, and workability of construction chemicals. The robust expansion of the Indian real estate sector and increasing investments in commercial and residential construction projects will fuel the demand in the 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.
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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.
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.
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Want to Know More?
Future Market Insights has published a market research report on the India Construction Chemicals Market that contains global analysis for 2016–2020 and opportunity assessment for 2021–2031. The report provides insightful analysis of the India Construction Chemicals Market through five different segments- Gas type, by End Use Equipment, by application, By End Use and region.
Construction Chemicals Market Key Segments
By Product Type:
- Concrete Admixtures
- Waterproofing Chemicals
- Protective Coatings
- Adhesives & Sealants
- Concrete Repair Mortar
- Plaster
- Asphalt Additives
By Application:
- Infrastructure
- Commercial & Industrial
- Residential
By Region:
- North
- South
- East
- West
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