An Incisive, In-depth Analysis on the India Construction Chemical Market
This study offers a comprehensive, 360 degree analysis on the India Construction Chemical market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global India Construction Chemical market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
India construction chemicals market has been experiencing significant growth; however, it is still at growing phase when compared to other regional and domestic markets. Construction chemicals are added with construction materials in order to improve its workability, enhance performance, add functionality, improve chemical resistance or enhance durability of civil structures. Over past few years, increasing infrastructure development activities, investment in commercial and residential housing and renovation activities of historical monuments, water retention structure, bridges and other civil structures have led to significant consumption of construction chemicals across India.
The market for construction chemicals in India is projected to exhibit a promising CAGR of 17.2% between 2014 and 2020. The India Construction Chemicals market is estimated to reach a market value of US$1,890 million by 2020. The India construction chemicals market is at a nascent stage and is attracting a lot of attention from foreign as well as domestic market participants including infrastructure developers, chemical manufacturers and institutional investors regarding set up of construction chemicals production facilities making foray into manufacturing operations in India.
India Construction Chemicals Market: Drivers and Trends
Government regulations formulated for promoting the concept of ‘Green Revolution’, increase in foreign investment, urbanization and growing preference for utilization of ready-mix concrete (RMC) are some of the prominent factors driving growth in the construction chemicals market in India. However, some of the challenges in this market are low availability of skilled man-power, volatility in raw material prices and lack of interest for implementation of quality standards by infrastructure developers.
Some major trends in India construction chemicals market are the increase in investment in R&D, entry of new players, adoption of sustainable products and technological advancements. Asian region is turning out to be focus point for most of the major construction chemicals companies for investment in R&D. Rising construction of new buildings and renovation activities across India is expected to boost the overall demand for construction chemicals in the near future.
India Construction Chemicals Market: End Use Sector Overview
On the basis of end use sectors, India construction chemicals market is segmented as infrastructure sector and residential & commercial sector. Infrastructure sector is likely to grow at a CAGR of 18.3%. The residential and commercial segment has a share of 34% in overall India construction chemical market with a steady Y-o-Y growth of 16% in 2020.
Regional Overview of the India Construction Chemicals Market
From regional perspective, India construction chemicals market is segmented into northern region, eastern region, western region and southern region. Currently, northern region is expected to experience highest CAGR of 17.8% as compared to other regions. Southern region is likely to create an opportunity which is three times the value in 2013. The southern region comprises the states of Tamil Nadu, Andhra Pradesh, Karnataka and Kerala. This region realizes the potential of IT services and hence are able to attract significant investment from these service and manufacturing companies. Chemical and engineering industries are the main drivers of growth in western region particularly in Maharashtra and Gujarat.
Product Segment Overview
India construction chemicals market is segmented as admixtures, flooring chemicals, water proofing compounds, adhesives & sealants and repair, rehabilitation & others. Adhesives & sealants and admixtures market is expected to contribute collectively 61.2% share by 2020. It is anticipated that there will be a decline in the growth of the repair, rehabilitation & others segment from 12.7% in 2014 to 11.9% in 2020, indicating a lack of inspection and maintenance in the construction industry in India.
India Construction Chemicals Market Value and Y-o-Y Growth by Segment 2013–2020 (%)
This Future Market Insights Report examines the ‘Construction Chemical’ market for the period 2014–2020. The primary objective of the report is to offer updates and market opportunities in the India construction chemical market. The construction chemicals market has been experiencing significant growth; however, it is still at a nascent stage compared to other global markets.
Construction chemicals are added with construction materials in order to improve its workability, enhance performance, add functionality, enhance chemical resistance, or enhance durability of civil structures. Utilization of construction chemicals have witnessed significant growth over the past decade due to increasing infrastructure development activities in developing economies.
To understand and assess the opportunities in this market the report is categorically split into: segment analysis, end use market and regions. The report analyses the India construction chemical market in terms of market value (US$ Mn).
The report starts with an overview of construction chemical market across India. In the same section, FMI analyses key trends, drivers and restraints in the construction chemical market in India. The next section of the report consists of the segment analysis of market.
Segment analysis of Indian construction chemicals market:
Adhesives and Sealants
Repair, Rehabilitation & Others
The next section of the report analyses the market based on end use and presents the forecast in terms of value for the next six years.
End user market covered in the report include:
Residential and Commercial Sector
The next section of the report analyses the market based on regions and presents the forecast in terms of value for the next six years.
Regions covered in the report include:
Data points such as regional split and market split by end use, qualitative inputs from primary respondents have been incorporated to arrive at apt market estimates. The forecast presented here assesses the total revenue of construction chemicals in India. When developing the forecast of the market, the starting point is sizing the current market, which forms the basis for the forecast of how the market is anticipated to take shape in the near future. Given the characteristics of market, we triangulated the outcome based on different analysis based on supply side and demand side market. However, quantifying the market across aforementioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalizing them after the forecast has been completed.
In addition, it is imperative to note that in an ever-fluctuating Indian economy, we not only conduct forecasts in terms of CAGR, but also analyses on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities across the construction chemical market.
As previously highlighted, the market for construction chemical is split into various sub categories based on region, end use and segment analysis. All these categories have been analysed in terms of basis point share (BPS) to understand individual segments relative contribution to growth. This detailed level of information is important for identification of many key trends in construction chemical market.
Also, another key feature of this report is the analysis of construction chemicals market by regions, end use and segment analysis and its revenue forecast in terms of absolute dollar. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the India construction chemical market.
Furthermore, to understand key growth segments in terms of growth & performance of India construction chemicals, Future Market Insights developed segment performance analysis index. The resulting index should help providers identify real market opportunities.
In the final section of the report, construction chemical market landscape is included to provide report audiences with a dashboard view, based on categories of providers across the presence in construction chemicals product portfolio and key differentiators.
Key market players featured in the section include:
Sika India Pvt. Ltd
Forsoc Chemicals (India) Ltd