Research on India’s construction chemicals market
Pidilite, Sika, BASF and FOSROC are few of the leading players operating in India construction chemicals market.
Construction chemicals market in India is projected to grow at a CAGR of over 15% during 2015 – 2020.
Changing consumer lifestyles, especially of the country’s robustly expanding middle class population, is driving demand for quality construction of residential structures, thereby driving demand for construction chemicals in India. In 2014, concrete admixtures accounted for the majority share in the country’s construction chemicals market. Increase in the number of high rise buildings coupled with growing need for fast and high quality construction is driving demand for concrete admixtures for blending purposes.
Construction chemicals are chemical compounds added to construction materials for improving their performance, workability and compatibility with the construction structure. Moreover, construction chemicals impart structural and functional properties such as durability, finish and resistance to adverse conditions to the finished structure. Rising demand for high quality construction coupled with technological advancements is forecast to drive demand for construction chemicals in India during 2015 – 2020.
Rapid urbanization, changing lifestyles, improving living standards and growing demand for aesthetically designed residential and commercial buildings is buoying growth in the construction chemicals market in India. Moreover, with increasing government regulations such as National Building Code (NBC) and green building initiatives, consumption of construction chemicals that adhere to the applicable norms and standards is growing, both in new building construction activities as well as repair & rehabilitation of existing buildings.