India Construction Chemicals Market

India Market Study on Construction Chemicals: Demand for Plaster and Adhesives & Sealants to Surge across the Country

India Construction Chemicals Market Product Type (Water Proofing Chemicals, Protective Coating, Concrete Admixture, Adhesives and Sealants, Asphalt Additives, Concrete Repair Mortar, etc.)

Report ID: PMRREP22522

Number of Pages: 338

Format: PPT*, PDF, EXCEL

Industry: Chemicals and Materials

Published Date: June-2024

Report Price

$3500*

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Market Snapshot

Newly-released data on the India Construction Chemical market shows that sales are expected to reach around US$ 2161.5 Mn by the end of 2023, registering a Y-o-Y growth of approximately 11.2%. The market of India Construction Chemical is projected to witness a CAGR of magnitude 13.9% over the period of 2024 and 2033 on a value basis.

India Construction Chemical Market Value (2023A)

US$ 2,161.5 Mn

India Construction Chemical Market Estimation (2024E)

US$ 2,407.1 Mn

India Construction Chemical Market Forecast (2033F)

US$ 7,792.6 Mn

Value CAGR (2024-2033)

13.9 %

As per the research conducted by Persistence Market Research, the market for construction chemical consumption across India is expected to reach a value of US$ 7,792.6 Mn by the end of 2033. North India and South India are anticipated to remain key markets in the India Construction Chemical business owing to the growing consumption of construction chemicals in Mega Projects and Make in India Projects, which are forecast to expand at a CAGR of 13.4% and 15.4%, respectively, during the same period.

India is estimated to remain one of the fastest growing market in global construction chemical industry with significant rise in number of suppliers in the country. India is expected to account for 6-8% of the global construction chemicals market.

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Consumption Analysis of India Construction Chemical from 2018 to 2023 Vs Market Outlook for 2024 to 2033

The market of construction chemicals in India had witnessed about 9.9% year-over-year growth in the past years. Demand for construction chemicals has been consistently increasing due to the extensive usage of concrete admixtures, waterproofing, adhesives & sealants, protective coatings, concrete repair mortar, plaster, and asphalt additives.

Based on the current estimations, the market of India Construction Chemical is to witness a growth outlook of about 13.9% over the period of 2024 and 2033. Demand for India Construction Chemical has been consistently increasing due to the rising residential and commercial building constructions.

Government investments and schemes for the development of mega projects and Make in India Initiatives as well as innovation of architectural design and engineering for construction are key factors that are expected to boost the growth of the India Construction Chemicals market.

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What is the Commercial Potential of Construction Chemicals in India?

The primary end applications of construction chemicals in the country are commercial building projects. Admixture concrete is mostly employed in the commercial sector for environmentally friendly building techniques, such as airtight concrete, rapid construction, and long-lasting hassle-free floor designs.

Indian government's commitment to boosting expenditure on infrastructure development is encouraging the growth of the market for construction chemicals. Further increase in focus to improve the logistics of the country to enhance the demand for construction chemicals.

Owing to this substantial rise in research and development of construction chemicals is expected to benefit the India Construction Chemical market over the forecast period.

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How Lack of skilled manpower and conservative usage of technology are restricting the growth of India Construction Chemicals?

There is a shortage of trained labor and specialists, particularly in the field of project management, in growing country like India. This creates adverse conditions for the expansion of the construction, infrastructure, and real estate industries.

The construction chemicals market's growth is also being hampered by the usage of outdated construction techniques and technology since many businesses aren't even aware of these advancements.

In certain parts of India, building firms continue to prioritize the Brick Bat Coba (BBC) System above the use of more effective and efficient waterproofing materials, such as PU Foam, among others, in their construction projects.

Region-wise Analysis

What is the Market scenario in South India Region?

Demand for Construction Chemicals in South India is expected to remain prominent in the country. Tamil Nadu, Karnataka, Andhra Pradesh, and Kerala are states in the southern part of the country. These service and industrial organizations are able to make substantial investments in this region because it recognizes the potential of IT services.

In the southern area, notably in cities like Bengaluru, Chennai, Hyderabad, etc., commercial building development is one of the key drivers of growth as well as ongoing mega projects including Market of India, SPR City, DLF Downtown (IT corridor), Chennai Metro – Phase 2, FinTech City, Defence Corridor, Aerospace and Defence Park Sriperambudur which is encouraging the need for construction chemicals in the forthcoming years.

What is the Market Growth Outlook in North India?

About one-third of the Indian market will continue to be dominated by North India. The rapid infrastructural development in the area and the rising population, which necessitates additional residences and offices, are the main causes of growth in the area.

Leading states driving the need for construction chemicals in the northern section of India include Punjab, Delhi, Haryana, and Uttar Pradesh. In the north, in Nalagarh, Master Builder Solutions established its facility. Other construction chemical factories in the area owned by Master Builder Solutions are enhanced by this facility.

Additionally, Mapei is the global leader in adhesives and construction chemicals Inaugurated India's 3rd Factory at Kosi, Mathura to cater to the growing demand for construction chemicals in Northern India and speed up the market time for products, as the site is strategically located and well-connected with Northern India via rail and roadways.

Category-wise Insights

Which application holds the largest share of the India Construction Chemical Market?

The residential and Commercial Sectors will remain the largest application by value and volume due to the rising population, increase in middle-class income, and urbanization. The Central government has raised its capital expenditure (capex) allocation to US$ 133.9 billion (Rs. 11.11 trillion) for the fiscal year starting April 1, 2024. This move, aimed at enhancing India's infrastructure, is a strategic effort to drive economic growth. Representing an 11.1% increase from the previous year, the FY25 interim budget earmarks US$ 133.9 billion (Rs. 11.11 trillion) for capital expenditures, accounting for 3.4% of GDP.

For instance, national highway construction in India grew at a compound annual growth rate (CAGR) of 5.3% between FY14 and FY23. Despite the challenges posed by the pandemic and lockdown, India built 10,457 km of highways in FY22. In FY23, the Ministry of Road Transport and Highways constructed 10,331 km of national highways. In the Interim Budget for 2024-25, the Government of India allocated Rs. 2.78 lakh crore (US$ 33.46 billion) to the Ministry of Road Transport and Highways.

In March 2024, the Indian government inaugurated and laid the foundation stone for 112 national highway projects across various states, with a combined value of approximately US$ 12.04 billion (Rs. 1 lakh crore).

Which Is the Most Preferred Product Type of India Construction Chemical?

Among the product types, the concrete admixture segment is expected to grow at a faster pace in terms of market volume by the end of 2030. By the end of 2030, the non-metallic material of construction, accounted for a sizeable portion of the market in 2024.

The major manufacturers of construction chemicals are now focusing on developing novel concrete admixture products by mixing plasticizers, retarders, accelerators, and air-entrainer as concrete admixtures are extremely important for any construction project and are majorly used in the country. This trend is being followed by many major players operating in the market, such as BASF, SIKA India Pvt. Ltd., etc.

Additionally, admixtures such as those based on Polycarboxyles (PCE), offer various advantages, such as high strength, relatively faster strength gains, self-compacting, and durability, among others. PCE admixtures presently have about 10% penetration in the Indian construction chemicals market, whereas it is about 25% in China, 50% in Europe, and 80% in Japan.

The Economic Times Housing Finance Summit estimates that only about three homes are built annually per 1,000 people, compared to the five homes per 1,000 people that are required. It is anticipated that the current housing shortage in cities will approach 10 million units. The country will require an additional 25 million affordable housing units by 2030 to satisfy the increase in urban population.

The market for concrete admixture is expanding significantly as a result of India's increasing construction industry. Under PMAY-Gramin, the government planned to deliver 1.95 crore homes. Between 2016 and 2022, the project is anticipated to construct 1.71 crore residential areas, according to government statistics.

Due to all these factors, the demand for concrete admixture in India will increase during the forecast years.

Competitive Landscape

Several of the major players are focusing on the expansion of the construction chemicals business and have installed various manufacturing facilities around India to capture a major share of the market and remain in a leading position. For instance,

  • In June 2023, Sika opened new facility in Kharagpur, located in the eastern part of India, as part of its ongoing efforts to enhance production capabilities in the rapidly growing Indian market. This facility will be dedicated to the production of mortar products, concrete admixtures, and shotcrete accelerators, primarily serving customers in the West Bengal region, a populous area with over 100 million residents.
  • In September 2023, Dow initiated operations of MDI distillation and prepolymersplant located within its expansive manufacturing complex in Freeport, Texas. This strategic investment is geared toward enhancing the efficiency of Dow's existing asset infrastructure and reinforcing its leadership in key market segments, including automotive, construction, consumer goods, and industrial applications.
  • In June 2023, Pidilite Industries, launched manufacturing facilities through its two joint ventures, Pidilite Litokol (PLPL) and TenaxPidilite (TPPL), located in Amod, Gujarat. Litokol SPA Italy and Tenax SPA Italy have shared their technology with Pidilite as part of these joint ventures.
  • In June 2023, Fosroclaunched, Polyurea WH 100, which offers numerous advantages for various roof waterproofing applications. This product is specifically designed for ease of installation, as it can be applied by hand.

India Construction Chemical Industry Report Scope

Attribute

Details

Forecast Period

2024-2033

Historical Data Available for

2018-2023

Market Analysis

  • US$ Mn for Value
  • Tons for Volume

Key Regions Covered

  • North India
  • East India
  • South India
  • West India

Key Market Segments Covered

  • Product Type
  • Application
  • Region

Key Companies Profiled

  • Chembond Chemicals Limited
  • Master Builder Solutions
  • SIKA AG
  • The Dow Chemical Company
  • Pidilite Industries
  • Fosroc International
  • MAPEI Construction Products India Pvt. Ltd.
  • Flowcrete India Ltd
  • CICO Technologies Limited
  • MYK LATICRETE India
  • Ardex Endura
  • KERAKOLL India Pvt. Ltd
  • Akzo Nobel NV
  • RPM International Inc.
  • Saint-Gobain S.A.
  • W. R. Grace & Co.-Conn
  • MC-Bauchemie
  • Magicrete
  • Balmer Lawrie & Co. Ltd
  • Cera-Chem Pvt. Ltd
  • Choksey Chemicals Private Limited
  • GCP Applied Technologies

Pricing

Available upon Request

Key Segments Covered in India Construction Chemical Market Research

By Product Type:

  • Concrete Admixtures
    • Plasticizers (lingo, SNF, PCE)
    • Accelerators
    • Retarders
    • Air Enterainers
  • Waterproofing Chemicals
    • Bitumen
    • PVC
    • EPDM
    • TPO
    • PTFE
    • Silicone
    • Acrylic Polymers
    • SBR - Styrene-butadiene
    • Cementitious Membrane
    • PU Membrane – Liquid-applied Membrane
    • Crystalline
    • Additives in Waterproofing
  • Protective Coatings
    • Epoxy
    • Polyurethane
    • Acrylic
    • Alkyd
    • Polyester
    • Others
  • Adhesives & Sealants
    • Adhesives
      • Tile Adhesives
        • Cementitious
        • Epoxy
      • Tile Grouts
        • Cementitious
        • Epoxy
      • Masonry Mortar
    • Sealants
      • Silicone
      • MS Hybrid
      • PU
      • Weatherproof Silicone
      • Polysulfide
  • Concrete Repair Mortar
    • Cement-based
    • Epoxy-based
    • Micro Concrete
  • Plaster
    • Cement-based
    • Gypsum-based
  • Asphalt Additives

By Application:

  • Infrastructure
  • Commercial & Industrial
  • Residential

By Region:

  • North
  • South
  • East
  • West

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Companies Covered in This Report

  • SIKA AG
  • Master Builder Solutions
  • Dow Chemicals
  • RPM International Inc.
  • MAPEI Construction Products India Pvt. Ltd.
  • Akzo Nobel NV
  • Pidilite Industries
  • Chembond Chemicals Ltd.
  • Flowcrete India
  • Fosroc International
  • CICO Technologies Limited
  • MC-Bauchemie
  • W. R. Grace & Co.-Conn.
  • Saint-Gobain S.A.
  • KERAKOLL India Pvt. Ltd
  • Ardex Endura
  • Magicrete
  • Balmer Lawrie & Co. Ltd
  • Cera-Chem Pvt. Ltd.
  • Choksey Chemicals Private Limited
  • MYK LATICRETE
  • GCP Applied Technologies

Frequently Asked Questions

The India Construction Chemical market is estimated to be valued at over US$ 2,407.1 Mn as of 2024.

Rapid Infrastructure Development is expected to boost Construction Chemical Market.

Consumption of India Construction Chemical is projected to increase at 13.9% CAGR during the period of 2024 and 2033 on a Value basis.

Construction chemicals are widely used in infrastructure projects. Their usage in government projects such as highways, bridges, dams, and others is rising day by day.

Some of the leading companies manufacturing construction chemicals are Chembond Chemicals Limited, Master Builder Solutions, SIKA AG, The Dow Chemical Company, Pidilite Industries, Fosroc International, MAPEI Construction Products India Pvt. Ltd., Flowcrete India Ltd, etc.

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