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Written by priyanka » Updated on: September 19th, 2024
According to TechSci Research report, “India Construction Chemicals Market- By Region, Competition, Forecast and Opportunities, 2020-2030”, the India Construction Chemicals Market was valued at USD 3.76 Billion in 2024 and is anticipated to grow with a CAGR of 5.64% through 2030. The expanding middle class is driving up demand for high-quality residential properties, such as apartments, houses, and gated communities. This increased demand necessitates the use of construction chemicals to ensure superior durability, aesthetics, and performance in these buildings. According to a report by People Research on India's Consumer Economy (PRICE) and India's Citizen Environment, India's middle class is expected to nearly double to 61% of the total population by 2047, up from 31% in 2020-21. This growth will position India as one of the world's largest markets.
As the middle class grows, there is a corresponding need for expanded urban infrastructure, including roads, schools, hospitals, and recreational facilities. This expansion boosts the demand for construction chemicals that improve the performance and durability of these infrastructure projects. The rising middle class desires modern amenities and higher living standards, increasing the need for advanced construction materials and chemicals that enhance functionality, safety, and comfort. Higher disposable incomes also lead to a greater focus on aesthetic appeal in residential and commercial properties, driving demand for specialty coatings, finishes, and decorative construction chemicals.
The growth of the middle class leads to a surge in real estate development, including new housing, commercial spaces, and mixed-use projects, which require a range of construction chemicals to ensure quality and compliance with contemporary standards. Furthermore, the expanding middle class is more inclined to invest in homeownership, leading to increased residential construction and renovation projects, thereby driving demand for construction chemicals used in building and maintaining high-quality homes. Investments from both government and private developers in projects aimed at the middle-class segment, such as affordable housing and urban infrastructure, further stimulate the demand for construction chemicals. This demographic shift supports increased usage of construction chemicals to meet evolving standards and expectations in both residential and commercial construction.
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The India Construction Chemicals Market is segmented into product type, end use, regional distribution, and company.
Based on the product type, the Waterproof Chemicals emerged as the fastest growing segment in the Indian market for Construction Chemicals in 2024. As urban areas expand and new buildings arise, the demand for effective waterproofing solutions intensifies. Waterproof chemicals play a crucial role in preventing water damage, which is vital for both residential and commercial properties. Regions facing heavy rainfall, high humidity, or severe weather conditions require robust waterproofing to guard structures against water infiltration and moisture issues, driving the need for advanced waterproof chemicals.
Recent innovations in waterproofing technology, such as improved membranes, coatings, and sealants, have enhanced performance and ease of application, attracting increased investment in this sector. For instance, in 2023, Kamdhenu Paints introduced Kamo Damp Proof, a fiber-reinforced elastomeric liquid waterproofing membrane. This product, made from synthetic fibers and robust acrylic polymers, creates a thick, seamless membrane that offers superior waterproofing.
Growing awareness of the importance of waterproofing for maintaining structural integrity and meeting building standards has led to greater adoption of these chemicals. Compliance with building codes ensures both longevity and safety in construction projects. Waterproof chemicals are essential for various applications, including foundations, roofs, basements, and exterior walls, contributing to their rapid market growth. Their role in preventive maintenance helps avoid expensive repairs and damage from water infiltration, reinforcing the ongoing investment in waterproofing solutions.
Based on the region, the South India emerged as the fastest growing region in the Indian Construction Chemicals market during the forecast period. Major cities in South India, including Bangalore, Chennai, Hyderabad, and Kochi, are undergoing rapid urbanization, driving a surge in residential, commercial, and infrastructure projects. This boom significantly increases the demand for construction chemicals needed to support these developments. The region’s robust economic growth, largely fueled by a vibrant IT and industrial sector, further accelerates the construction activity. Enhanced investments in real estate and commercial spaces call for a variety of construction chemicals to ensure high standards of quality and durability.
South India is also home to numerous large-scale infrastructure projects, such as smart city initiatives, metro expansions, and highway upgrades, which require advanced construction chemicals for waterproofing, concrete enhancement, and protective coatings. In 2023, Saint-Gobain India announced a major investment of Rs 3,400 crore in Tamil Nadu, as part of a broader plan to invest Rs 8,000 crore in the state over the next 2-3 years. The expanding real estate sector in the region includes diverse projects, from high-rise apartments to commercial complexes, each with specific construction chemical needs, further driving market growth. Additionally, improved infrastructure for manufacturing and distributing construction chemicals, including enhanced logistics and supply chain management, supports the market’s rapid expansion.
Major companies operating in India Construction Chemicals Market are:
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“India’s construction chemicals market is experiencing significant expansion driven by extensive infrastructure development and urban growth. The sector is adapting to the latest technological advancements and a move towards sustainable practices. Key trends include the use of eco-friendly materials and the implementation of smart construction technologies. With considerable investments in residential and commercial projects, the market is evolving to address the needs for enhanced durability, performance, and environmental stewardship, setting the stage for sustained growth and innovation,” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.
“India Construction Chemicals Market By Product Type (Concrete Admixtures, Waterproof Chemicals, Flooring Resins, Protective Coatings, Adhesives, Sealants, Others), By End Use (Commercial & Industrial, Residential), By Region, Competition, Forecast and Opportunities, 2020-2030”, has evaluated the future growth potential of India Construction Chemicals Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Construction Chemicals Market.
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