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Construction chemicals market picking up as investments, R&D grows

Press release August 14, 2014

Construction chemicals are specialty chemical compounds used in building and construction industry to enhance strength, durability and life of the structures.

The Indian construction chemicals industry has entered an era of growth and steady development. Nowadays, several projects funded by multilateral agencies have made the use of construction chemicals mandatory. To meet the increasing demand and to cope with the challenges from international players, the India's construction chemical sector is driven by innovations by investing strongly in research and development.

This report, Snapshot: Construction Chemicals Sector, provides a detailed analysis of the market and focuses on the growth trends, major players, recent developments and key drivers of the construction chemical sector.

Market overview

The Indian construction chemicals market is highly competitive and fragmented with large numbers of small and specialized suppliers. In addition to small distributors who import these chemicals, there are a large number of global construction companies who have their local manufacturing operations in India.

This market is likely to grow at the rate of around 10-15% per annum. The key players include ArdexEndura India, Balmer Lawrie, BASF India, CeraChem, CICO, CIPY, FOSROC, Pidilite, SIKA, SWC and Thermax.

Key drivers

The new construction projects market is expected to increase the demand for construction chemicals to a large extent. The construction market is expected to grow at more than 30% per annum for the next few years. The use of construction chemicals is still negligible in India because of low market awareness. Inspite of this, the construction chemicals market is picking up with overall economic growth, increased investments by governments in infrastructure and due to participation of overseas investors and contracting companies. However, the market is still very small when compared to other global markets, as India accounts for around 5% of the global construction chemicals consumption. The prospects of its further growth are very bright in the coming years as it has shown a growth of about 17% per annum in last five years in this sector.

For further insights,

Visit: Construction chemicals market picking up as investments, R&D grows

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SOURCE: Researchonindia.com

Subjects


Construction chemicals market, construction chemicals industry, construction chemicals market size