Construction Chemicals Market Size Report in India
According to this MRRSE Report, the growth of the construction sector in India has remained strong and in the past five years it has grown more than 10% year-over-year. The construction chemical market in India reached revenue of over US$528 million in 2012. The key trends shaping the growth trajectory of the India construction chemical industry are the cumulative result of economic and infrastructure development, government initiatives, demand for commercial and residential spaces, and the vertical growth in urban India. In 2014, the India construction chemical market was worth US$728 million. The market displayed a marked 17.4% year-over-year growth in 2013.
The India construction chemical market can be broadly segmented into five sectors, namely waterproofing compounds, flooring chemicals, admixtures, repair and rehabilitation, and adhesives and sealants. Admixtures held the dominant position in the market, holding over 40% of the total market in terms of value. According to the report, the admixtures segment in the India construction chemical market is expected to surpass market revenue of US$800 million with an average growth rate of 17.5%.
On the other hand, the waterproofing compounds sector in the India construction chemical market is anticipated to emerge as the fastest growing segment with a growth rate of 22.6% during the forecasting horizon. Furthermore, the market segment of repair and rehabilitation will demonstrate a low growth rate as the concept of renovation of old constructions is not yet that popular in India.
The demand for construction chemicals is subject to variations across regions and sectors in the country. In 2013, the consumption of construction chemicals in the industrial and public infrastructure construction sector was recorded at US$378 million. Additionally, the use of construction chemicals in India is limited to the Southern and Western regions, but is gradually picking up pace in the Northern region as a result of the growing construction activities in the NCT (National Capital Territory) of Delhi.
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The large multinational players in the India construction chemicals market are dominating the market. With the entry barriers low, many small regional players have entered the industry and are enjoying a decent amount of market share as well. The key players in the India construction chemicals market are SIKA (India), BASF SE Chemicals, Pidilite, Apple Chemie, CICO Technologies, Fairmate Chemicals, Mapei India, Perma Chemicals, and FOSROC.
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