Construction chemical manufacturers in India seek contracts with government bodies associated with public infrastructure projects to sustain operations through coronavirus crisis.
DUBAI, UAE / ACCESSWIRE / July 8, 2020 / Future Market Insights: The India construction chemical market is expected to grow at an imposing 17.2% CAGR between 2014 and 2020. According to FMI reports, the temporary suspension of construction activities in the public and private sector are having a negative impact on the Indian construction chemicals market. Disruptions of supply chains and restrictions on trade are also hurting market prospects in the near term.
"Investments in commercial and residential infrastructure in addition to project collaborations with government bodies will aid the India construction chemicals market. Further the repair and maintenance activity for old infrastructure, will be key to the revenue of the Indian construction chemicals industry, once restrictions are lifted," says the FMI analyst.
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India Construction Chemical Market - Important Takeaways
- Concrete admixture is highly sought after, supported by favorable government policies towards affordable residential projects.
- Repair and rehabilitation applications are gaining traction owing to a large number of aged buildings and infrastructure.
- Use of construction chemicals for commercial buildings is key to market revenue, supported by tech industry expansion in the country.
- Northern region is witnessing rapid growth owing to investments from manufacturing and service companies.
India Construction Chemical Market - Driving Factors
- Easy availability of essential raw materials at low cost is anticipated to increase demand for construction chemicals.
- Industrialization and urbanization, including smart city projects are creating lucrative opportunities.
- High use of concrete and admixtures for infrastructure projects are crucial to market revenue growth.
India Construction Chemical Market - Leading Constraints
- Strict regulations associated with construction chemical product standards hampers market growth.
- Cyclical nature of the Indian construction industry limits opportunities for market players.
Expected Impact on Market by Coronavirus Outbreak
The Indian construction industry is gradually on its way to restarting operations, albeit with strict regulations on working conditions, as health risks from the coronavirus are still running high. However, supply chain disruptions and worker shortages in the industry will cause substantial delays in work hurting the demand for construction chemicals in the near future.
Explore the India construction chemical market with 28 figures and the table of contents. You will also find market segmentation on https://www.futuremarketinsights.com/askus/rep-in-87
Competition Landscape
Some of the top players operating in the India construction chemical market are CICO Technologies, BASF India, Chembond Chemicals, Pidilite, Forsoc Chemicals, and Sika India Pvt. Ltd. Market players are pushing for long term contracts and product marketing strategies to sustain sales. For instance, Pidilite has set up an extensive marketing campaign targeting its waterproofing chemical products for preventive maintenance purposes.
More on the Report
FMI's provides in-depth insights on the India construction chemical market. The market is segmented in terms of product type (adhesives and sealants, admixtures, flooring chemicals, waterproofing, repair & rehabilitation, and others), and application (infrastructure and residential & commercial) across four key regions (North, East, South and West).
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SOURCE: Future Market Insights
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