Indian Construction Chemicals Market Expected to Witness Steady Growth On Account of Focus on Infrastructural Development

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Government initiated high-investment programmes and the efforts of private companies to develop residential, commercial and industrial infrastructure have provided the impetus to Indian construction market. Construction sector’s contribution to India’s GDP was 6.1% in 2002-03 and it reached 9% in 2015 on account of a consistent YOY growth.

Asian Development Bank’s mandate to use construction chemicals under stipulated guidelines have catalysed the Indian construction chemicals market. The Indian construction chemicals market has seen a 17.4% YOY growth over 2013 and was worth US $728 Mn in 2014.

Waterproofing compounds, flooring chemicals, repair and rehabilitation, admixtures, adhesives and sealants and are 5 major segments in this industry. Admixtures, the largest segment in this industry accounts for 40% of the total market value and is expected to expand at a CAGR of 17.5% and surpass US $800 Mn by 2020. Water proofing compounds segment is expected to witness the highest growth rate of 22.6%, whereas repair and rehabilitation segment will witness a slow growth rate, as the concept of renovating old constructions is still at a nascent stage in India.

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According to Essien Jae, lead consultant at FMI, “The use of construction chemicals in industrial and public infrastructure accounted for 60% of the total market value, whereas commercial and residential sector accounted for the remaining value.”

Large multinational players dominate the Indian construction chemicals market and have the largest market share. Low entry barriers have also enabled domestic and regional players to have a sizeable share of the total Indian construction chemicals market.

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FMI

Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.