Rising infrastructure Activities to Aid India Construction Chemicals Market until 2023
Growing
investments in real estate and infrastructure sector, deployment of new
construction technologies and rising focus towards green building construction
to drive India 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 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. Moreover, various multinational players
are entering into country’s real estate and industrial sectors, thereby augmenting
demand for construction chemicals market across these sectors. There is a rising
focus towards development of urban infrastructure in mega cities such as Delhi NCR,
Ahmedabad, Mumbai, Pune, Kolkata, Bengaluru and Chennai. Additionally, development
of smart cities, which involves construction of green buildings, is expected to
propel 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 construction chemicals market in 2017, followed by waterproofing
chemicals and flooring compounds. In 2018, government of India announced its
plans to spend approximately $ 8.8 billion for development, expansion and
modernization of India airport infrastructure. This is expected to bolster consumption
of concrete admixtures during the forecast period. On the basis of end use, India
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 rising construction
of high-rise residential buildings across the country. A large demand for
construction chemicals emanates from 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
construction chemicals market.
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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 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 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 help them in taking sound investment
decisions. The report also identifies and analyzes emerging trends along with
essential drivers and key challenges faced by India construction chemical
market.
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