Construction Chemicals Market Scenario:
India’s market for construction chemicals is witnessing a noteworthy expansion chiefly due to the nation’s industrial boom. Huge investments are occuMAMRng in India's infrastructure sector that is giving a push to the construction chemicals and construction market. Significant construction initiatives are at present progressing in the nation. The utilization of construction chemicals is commanded by governmental regulations that is the reason, the Indian government's construction activities have fuelled the expansion of the construction chemicals market in the nation.
The India’s market for construction chemicals is projected to account for an evaluation of more than US$ 2,610 Million towards the end of 2025, registering at a strong double digit CAGR of 13.8% all through the calculated period.
Based on the product type, the global market is segmented into water proofing chemicals (includes PVC, bitumen, TPO, EPDM, silicone and PTFE), protective coating (includes acrylic, polyurethane, epoxy, polyester, alkyd and others), concrete admixture (includes retarder, plasticizer, accelerator and air-entrainer), asphalt additives and adhesives & sealants. The concrete admixtures category is expected to gain a positive expansion trajectory since this specific product is likely to capture a market valuation of more than US$ 1,210 Million towards the end of 2025. On the other hand, on the basis of growth rate, the water proofing chemicals segment dominates the market as well as is projected to record a high 14.5% CAGR all through the calculated period.
In terms of the application, the global market is categorized as residential, commercial & industrial and infrastructures. of these categories, the infrastructure is anticipated to remain dominant in the years to follow in addition to capturing a market valuation of more than US$ 1,500 Million towards the end of 2025. Nevertheless, a rise in the government’s concentration on dynamic expansion has led towards a variety of initiatives such as “Make in India” that has set off the expansion of construction in the industrial and commercial category that is likely to record a 17%CAGR of for the duration of the forecast.
In terms of the region, the global market includes South, North, West and East. The increase in construction activities is anticipated to take place for the most part in Western region of India largely in Madhya Pradesh, Gujarat and Maharashtra. Maharashtra and Gujarat are the centre of manufacturing activities for several industries, therefore fuelling the expansion of the construction market in addition to thus encouraging the need for construction chemicals.
Key Market Players
The prominent companies active in the global market include
• SIKA AG
• BASF SE
• RPM International Inc.
• The Dow Chemical Company
• Akzo Nobel NV
• WRGrace & Co.-Conn.
• Chembond Chemicals Ltd.
• Pidilite Industries Ltd.
• CICO Technologies Limited