India Construction Chemicals Market

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

About the Report

The construction chemicals industry in India is termed as a 'sunrise industry', growing at a significant rate. This growth is due to increasing government investments in infrastructural projects and rising construction spending across almost all states in the country. Rising government initiatives such as Smart City, Make in India, Housing for All, amongst others, are projected to boost demand for construction chemicals across all application sectors; however, the market is still small as compared to other global markets, but prospects for further growth are very bright.

In its latest report, Persistence Market Research, an ESOMAR-certified market analysis and consulting company, provides insights into key factors driving demand for construction chemicals in India. The report evaluates impact COVID-19 has had on the construction industry in general, and India’s construction chemicals market in particular.

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Companies

  • 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

Historical and Future Outlook

Construction chemicals play a crucial role in the chemical industry and are increasingly becoming an important part in the building of nations. Owing to their low consumer recognition, use of construction chemicals is not high in India. With proper understanding of this industry, use of construction chemicals is expected to increase, and, as a result, the market is anticipated contribute to the Indian economy in a significant way.

Currently, the economy of India is in a severe slowdown mode amidst a worsening credit crisis and disrupting economic growth goals. Particularly, the construction industry in India will remain buoyant, owing to rising demand for real estate and infrastructural projects. Major infrastructure activities such as highway construction, export cargo, and power generation in India are expected to push growth of the India construction chemicals market at an impressive rate over the coming years.

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According to Persistence Market Research’s analysis, construction chemical sales in India have grown at 5% CAGR from 2016 and 2020.

Construction chemicals entail a variety of products, including concrete admixtures, waterproofing, adhesives & sealants, protective coatings, concrete repair mortar, plaster, and asphalt additives. These products find extensive usage in the construction industry. Strength of concrete admixtures has increased dramatically due to developments in construction chemicals.

The COVID-19 pandemic has had a drastic impact on the global economy at various levels, and major impact has been seen on the construction industry. Construction chemicals market also saw a major drop in demand in 2020. Along with a number of end users affected in India across regions, supply issues and shortage in demand are predicted to result in a significant drop in Y-O-Y growth. However, Persistence Market Research expects construction chemicals market in the country to expand at close to 14% CAGR through 2031.

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What is the Commercial Potential of Construction Chemicals in India?

Commercial construction activities are the major end uses of construction chemicals in the country. Admixture concrete is mostly used in the commercial sector for sustainable construction practices, which include watertight concrete, fast construction, and durable hassle-free floor concepts. The government of India’s commitment to increase spending on infrastructure development will bode well for the expansion of the construction chemicals market in the country.

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Why is R&D Key to Market Fragmentation?

To achieve a competitive edge, some of the leading players are investing in research & development activities. In order to develop new construction chemicals, manufacturers need to work with construction industry experts and end users. Around 3 percent of revenue of the construction chemicals market in India is spent on R&D for new product and application development.

Moreover, establishing sales and service facilities in emerging regions, coupled with long-term partnerships also pave the way for the expansion of channel reach. To increase cognizance on benefits and applications of construction chemicals, manufacturers provide onsite training to site workers.

india-construction-chemicals-market

Region-wise Insights

How Large is the Opportunity in North India for Construction Chemicals?

North India will continue accounting for around one-third of the share in the market in India. Growth in the region is primarily due to rapid development of infrastructure and increasing population that requires more buildings to reside and work in. Punjab, Delhi, Haryana, and Uttar Pradesh are leading states propelling demand in the northern part of India for construction chemicals. Master Builder Solutions set up its plant in Nalagarh in the north. This plant complements other Master Builder Solutions construction chemicals plants in the region.

Will Demand for Construction Chemicals Grow across Eastern India?

The eastern part of India is experiencing exponential growth, owing to increasing infrastructural activities, especially in areas such as West Bengal, Jharkhand, and Bihar.

For instance, in West Bengal, Master Builder Solutions (Formerly BASF) India set up its sixth plant based on concrete admixtures to meet rising demand for its popular Master Builders Solutions brand series in India’s eastern region, which provide fast and flexible solutions and products to the construction industry.

Is the Western Part of India a Lucrative Market for Construction Chemicals?

Persistence Market Research has projected the western region to remain one of the most lucrative markets throughout the course of the forecast period. In the western part of India, a plant is set up in Kharagpur, which will help the region serve clients better, owing to growing demand for durable and energy-efficient construction materials in the region. This will also make Kharagpur a ‘Smart City’ - a reality in India. Besides this, increasing foreign direct investment is anticipated to act as a great opportunity for the industry in the region over the coming years.

How Large is the Opportunity in the South of India for Construction Chemicals?

The southern region includes the states of Tamil Nadu, Karnataka, Andhra Pradesh, and Kerala. This region realizes the potential of IT services, and hence, is able to attract significant investments from these service and manufacturing companies. Commercial construction development is one of the main drivers of growth in the southern region, particularly in cities such as Bengaluru, Chennai, Hyderabad, etc., which bodes well for the demand for construction chemicals over the coming years.

Category-wise Insights

What’s the Market Share of Concrete Admixture?

According to our analysis, concrete admixtures are expected to hold nearly one-fifth of the market in terms of product, by the end of 2031. This is due to wide application in non-metallic material of construction, which is mixed with sand, crushed rock, and water in specific ratios to manufacture concrete.

Why Does Waterproofing Hold a High Percent Share in Construction Chemicals in India?

The waterproofing segment will continue accounting for nearly one-third of the share among the products through the forecast period. Waterproofing compounds are available in solid, liquid, slurry, and two-component coating forms. Demand is growing as waterproofing chemicals are based on urethane, modified asphalts, clay-based or rubber polymers, which are designed to stop water infiltration, a much needed aspect in construction.

Where are Adhesives & Sealants Mostly Used?

Adhesives are classified into tile adhesives, tile grouts, and tile mortar. Tile adhesives are used for fixing tiles on the walls, floors, swimming pools, and others. These are based on the composition of cement and polymer (mainly acrylic polymer), while sealants are used to seal expansion joints, holes, concrete road joints, and to fill concrete gaps. This segment will hold around one-fifth of the overall market share as far as products are concerned.

Competitive Landscape

The biggest challenge in India for construction chemicals in recent years has been the price. Manufacturers have low margins, owing to major contractors preferring low-cost chemicals so as to reduce overall construction costs. Construction chemicals can be subcategorized on the basis of value; high-value products have limited demand, which are mostly used solitary, such as in premium construction projects. Some contractors in the construction industry are still not wholly aware about the benefits of various construction chemicals, and hence, tend to use substitutes that come at low costs. Suppliers of construction chemicals are focusing on acquisitions and regional expansion to establish a stronger foothold across the nation.

Some of the leading companies operating in the market 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
  • 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

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.

Scope of the Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value and Units for Volume

Key Regions Covered

  • India
  • North
  • East
  • South
  • West

Key Segments Covered

  • Product
  • 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

Report Coverage

  • Market Forecasts
  • Brand Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

India Construction Chemicals Market by Category

Product

  • 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
        • EpoxyTile 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

 Application

  • Infrastructure
  • Commercial & Industrial
  • Residential

Region

  • North
  • South
  • East
  • West

Key Questions Answered in Report

Q1. Which is the most lucrative market for construction chemicals?

The northern region currently leads the market for construction chemicals in India. Sales in the north are expected to be over 30% throughout the forecast period.

Q2. Which are the top-selling construction chemicals?

Waterproofing chemicals are highly sought-after across the country. Demand is expected to remain high in the near future, especially due to proliferated usage across different applications in polymer modified cementitious composites, water proofing concrete, polysulphide sealants, butyl & acrylic sealants, and  elastomeric polyurethane.

Q3. Which end-use application demands the highest requirement of construction chemicals?

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.

Q4. Which are some of the leading companies providing construction chemicals?

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.

Q5. Which product is driving the sales of construction chemicals?

Protective coatings are driving sales because they are environment-friendly performance chemicals, and find application in wide areas for coatings and sealants.

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