An FDI Inflow of over INR 25 Bn & Smart City Mission are some of the factors serving as catalyst in the Indian Construction Chemical Market: Ken Research
1. “Real Estate fueling the construction chemical market:” Enhancing Investment for Real Estate Development is a Priority for the Government; this will indirectly boost demand in the Construction Chemicals Market
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Real estate has been a major market for Construction chemical Industry in India. With increasing urbanization & development initiatives taken up by GOI, the sector has been supporting the growth of Construction chemical market. Initiatives such as “smart city mission” wherein the govt. has chosen 100 smart cities and prepared projects worth $30 Bn moreover, projects worth $20 Bn to almost completion are boosting the market growth. Moreover, In Budget 2021, gov. proposed forming of a Development Financial Institution (DFI) named as National Bank for Financing Infrastructure and Development. The institution will serve as a catalyst for real estate market thus fueling the construction chemical sector as well.
2. There is a huge pipeline of on-going & up-coming Real Estate & Infrastructure Projects till FY’2025.
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Investment of ₹ 30 trillion for transport sector with major investment in railway, roads, & highway sector is expected for next 5 years. Target of 12,000 km national highway construction every year till FY’2024 by the current government is being taken place. Moreover, as part of Sagarmala Project of New Port & Port Modernization till 2015-2025 with 610 projects with ₹7 Lakh Cr out of which 542 projects under implementation, development & completion. Many other projects are being carried out which are serving the growth of construction chemicals market in India.
3. “A bright future for the industry:” Construction Chemicals Industry is going to witness a healthy growth of its end user Industries, which reduces demand uncertainty in the medium to long term.
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The future growth rate of construction chemical industry is expected to be a steady but consistent one. A major push will be received via projects in hospitality, residential, commercial & infrastructure segments. Furthermore, New Innovations such as Multipurpose & Hybrid Coating, eco-friendly products for instance Nano-Coating, Green Coating for fire protection and anti-corrosion are anticipated to fuel the sales. Global Companies have already increased their presence by opening new manufacturing plants for instance BASF opened 6th Plant in India, Fosroc and Arkema inaugurated their new plants as well. All in all, even though the industry is currently is at a nascent stage currently, it is expected to register strong growth in upcoming years.