1. The Chemical industry in India is growing at a CAGR of ~8% during FY’2015-FY’20, and is expected to grow more owing to the rising growth in urbanization and development of housing projects in the country.
To Know More about this report, download a Free Sample Report
India’s Construction chemical market is growing at a faster rate compared to the Global Industry. Currently, the demand for High Quality and Durable Products such as const. admixture for cement, and waterproofing chemicals has increased the adoption of construction chemicals. Moreover, new innovations such as multipurpose and hybrid coating, eco-friendly products for instance Nano-Coating, Green Coating for fire protection, and anti-corrosion have fueled sales. In addition to this, various investment schedules have been planned for infrastructure development in the country with respect to highways, railways, ports & waterways, airports, industrial corridors, and smart cities. This will help the Indian construction sector to grow at a CAGR of around 6%, over the forecast period, (2019-2024), thereby pushing the demand for construction chemicals in India.
2. India Construction Chemicals Market has a Good Mix of Organized and Unorganized Players; Organized players dominate the overall market
Currently, the overall construction chemical market is consolidated. Presently, the Organized sector dominates the segment with over ~50% overall market share. Major construction chemicals companies in India are Fosroc, Sika, BASF (MBCC), Mapei, MYK Laticrete, and others. There is fragmentation in the market for the rest of the organized industry pie. It is expected that the higher awareness, skilling of the workforce, higher spending power, and demand for high-quality and environmentally safer construction will catalyze the growth of the Organized Market which will further induce the growth of the construction chemical sector in the coming years. Besides it, the unorganized segment share is ~43% of the overall Construction Chemicals Market as of FY20. The Unorganized vs. Organized Market asymmetry will get more skewed, with Organized Players slowly eating away the Unorganized Market’s share.
3. Low Awareness Levels, Price Sensitivity, and Unskilled Labour are some of the challenges for the Market.
Visit This link Request for Custom Report
The Indian construction chemicals sector is highly price sensitive in nature. Customers prefer to use low-cost substitutes instead of investing in construction chemicals. Also, the lack of training regarding the use and knowledge about the benefits of the component act as a challenge for the construction chemical industry in India. Moreover, the shortage of skilled workers and technical expertise in the sector has hampered the overall growth of the market. The practice of employing unskilled workers in construction activity is still hampering the growth of the sector, as construction chemicals are sensitive products and their use requires basic technical expertise and training. This often leads to poor implementation of quality standards by infrastructure developers. Low Penetration of Concrete Admixtures and the Ban on Illegal Sand Mining in India are other pain points of this industry.
For more insights on the market intelligence, refer to the link below:-
India Construction Chemicals Market
Follow Us