Growing investments in the real estate and infrastructure sector, deployment of new construction technologies, and rising focus towards green building construction to drive India’s construction chemicals market through 2023. According to TechSci Research report, “India Construction Chemicals Market By Type, By End Use, Competition Forecast & Opportunities, 2013-2023”, India’s construction chemicals market is projected to surpass $ 2.4 billion by 2023, predominantly on account of booming infrastructure and real estate sectors in the country.
The Important Elements of India Construction Chemicals Market
various multinational players are entering the country’s real estate and industrial sectors, thereby augmenting demand for the construction chemicals market across these sectors. There is a rising focus on the development of urban infrastructure in mega cities such as Delhi NCR, Ahmedabad, Mumbai, Pune, Kolkata, Bengaluru, and Chennai. Additionally, the development of smart cities, which involves the construction of green buildings, is expected to propel the demand for low VOC-based construction chemicals across the country in the coming years.
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Among different types of construction chemicals, concrete admixtures dominated India’s construction chemicals market in 2017, followed by waterproofing chemicals and flooring compounds. In 2018, the government of India announced its plans to spend approximately $ 8.8 billion for the development, expansion, and modernization of India airport infrastructure. This is expected to bolster the consumption of concrete admixtures during the forecast period. On the basis of end-use, India’s construction chemicals market is broadly segmented into infrastructure and real estate.
Real estate dominated the market in 2017 and is likely to continue dominating during the forecast period as well on the back of the rising construction of high-rise residential buildings across the country. A large demand for construction chemicals emanates from the Southern region of India due to its high population density and increasing construction of houses, commercial offices, and large-scale infrastructure in the region. Pidilite Industries Limited, BASF India Limited, Sika India Private Limited, Fosroc Chemicals India Pvt. Ltd., Dow Chemical International Pvt. Ltd., Chembond Chemicals Limited, W. R. Grace & Co. India Pvt. Limited, are some of the major companies operating in India’s construction chemicals market.
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The rising population, increasing number of households, and growing per capita income levels are expected to boost demand for construction chemicals during the forecast period. “Increasing investment in infrastructure and real estate sector across India would positively influence the country’s construction chemicals market. Moreover, both domestic and foreign players in the construction sector are capitalizing on the lucrative opportunities of entering into India construction market through strategic alliances and joint ventures, which would further steer growth in India construction chemicals market in the coming years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India Construction Chemicals Market By Type, By End Use, Competition Forecast & Opportunities, 2013-2023” has analyzed the potential of India’s construction chemicals market, and provides information and statistics on market structure, imports, and trends. The report intends in providing the intending clients with cutting-edge market intelligence and helps them in taking sound investment decisions. The report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the Indian construction chemical market.
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