India Construction Chemicals Market: Current Analysis and Forecast (2024-2032)

Report Description

India Construction Chemicals Market Size & Forecast

The India Construction Chemicals Market was valued at USD 3.31 billion in 2023 and is expected to grow at a strong CAGR of around 7.3% during the forecast period (2024-2032) owing to the rapid urbanization and infrastructure development in the nation.

India Construction Chemicals Market Analysis

India’s construction chemicals market is fast growing as the country absorbs rapid urbanization, and booming infrastructure development, and is increasingly concerned about sustainable practices at construction sites. In fact, as construction projects both residential and commercial continue to develop, the need is additionally increasing for high-performance materials for example concrete admixtures, waterproofing agents, sealants, and coatings. These government initiatives have gone on to help the market grow further using durable and eco-friendly construction materials such as PMAY (Pradhan Mantri Awas Yojana) and housing for all. The rising adoption of green and energy-efficient solutions is a growth driver for the Indian construction chemicals market, as builders adopt products that promote environmentally friendly construction and fulfill the green building norms.

Recent Developments in the Market

In March 2023, Nippon Paint (India) Pvt Ltd entered into the construction chemicals market in India, with a focus on offering products and solutions for dry mix, repair and maintenance, construction chemicals, and waterproofing categories. The company’s expansion into the new market is in response to the increasing demand for residential and commercial building constructions, with urbanization driving this category. Nippon Paint aims to expand its dealer touch points by 50% with the new range of products.

In June 2021, JSW Cement entered the construction chemical sector with the launch of a green product range in the category. The range comprises ‘Enduro Plast’ ready mix plaster, ‘Krysta Leakproof’ integral crystalline waterproofing compound and’Duraflor’floorhardner.

India Construction Chemicals Market Trends

This section discusses the key market trends that are influencing the various segments of the construction chemicals market, as identified by our team of research experts.

The Protective Coatings Segment Transforming Industry

The protective coatings segment is growing owing to the growing need for a construction material that protects the structures to which it is applied from the forces of nature. The corrosion problem and severe weather conditions in extreme climate areas of India require protection coatings for anti-corrosion, waterproofing, and fire-resistant coating for building and infrastructural structures. This growth is especially apparent in applications such as bridges and roads, metros, and industrial plants where the silane requires long-life protection against corrosion, ultraviolet, and wear. Also, the increased construction of commercial and residential buildings, improved awareness regarding sustainability, and performance optimization have further led to the penetration of superior quality high-performance coatings with efficient energy retention and limited requirement of repeated maintenance. As advanced technologists have developed more efficient coatings that provide multi-beneficial characteristics like the capability to heal the coating itself and include low-VOC environmentally friendly coatings, the protective coatings segment is slated for further growth as part of the construction chemicals market in India.

West India is Expected to Grow with Significant CAGR During Forecast Period

The construction chemicals market in West India is thus growing rapidly due to factors like urbanization, general growth in disposable income, and evolving trends among consumers. Amid the arrival of fast-growing beverage markets like Maharashtra and Gujarat along with large conventional and modern commercial centers, more food and beverage sectors are demanding convenient packaging products including aluminum cans. The increased consumption of soft and sparkling beverages, energy, and ready-to-drink products, especially for the younger generation, is also accelerating this trend. Also, changes in consciousness regarding sustainability and recycling have become important for consumers and manufacturers, because they are encouraged to use environmentally friendly packaging. Major market players are increasingly investing in local production capabilities and spot-on advertising techniques that augur well for West India to emerge as a major market to boost the construction chemicals market industry growth trajectory in the region.

India Construction Chemicals Industry Overview

The India Construction Chemicals market is competitive and fragmented, with the presence of several country market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market include Ardex Group; Don Construction Products Ltd.; ECMAS Group; Fosroc, Inc.; MAPEI S.p.A.; Construction Chemicals Corporation; Pidilite Industries Limited; Saint-Gobain Group; Sika AG; Thermax Limited.

India Construction Chemicals Market News

In June 2024, Saint-Gobain further strengthens its worldwide presence in Construction Chemicals by signing a definitive agreement to acquire FOSROC, a leading player in Asia and emerging markets.

In December 2023, Saint-Gobain acquired Menkol Industries Private Limited, a leading Indian manufacturer of high-added value waterproofing systems.

In July 2023, CHRYSO launched EnviroMix, the first global range of admixture solutions and services for low-carbon concrete.

India Construction Chemicals Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The India construction chemicals market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the India Construction Chemicals Market Analysis (2024-2032)

Analyzing the historical market, estimating the current market, and forecasting the future market of the India construction chemicals market were the three major steps undertaken to create and analyze the adoption of India construction chemicals in major states. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the India construction chemicals market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertaining to detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

A detailed secondary study was conducted to obtain the historical market size of the India construction chemicals market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the India construction chemicals market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type, application, and regions. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the India construction chemicals market. Further, we conducted factor analysis using dependent and independent variables such as the product type, application, and regions of the India Construction Chemicals market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in India construction chemicals market sector across the country

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the India Construction Chemicals market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to varied factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast 2032 for different segments and sub-segments across the major markets in India. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the India Construction Chemicals market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the India Construction Chemicals market regarding products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the India construction chemicals market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product type, application, and regions in the India construction chemicals market.

The main objective of the India Construction Chemicals Market Study

The current & future market trends of the India Construction Chemicals market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a state level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the India construction chemicals market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of product type, application, and regions.
• Define and analyze the regulatory framework for the India construction chemicals
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the India construction chemicals market for the major region.
• Major Regions in India studied in the report include North India, South India, East India, and West India.
• Company profile of the India construction chemicals market and the growth strategies adopted by the market players to sustain in the fast-growing market.
• Deep dive state-level analysis of the industry

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