Construction Chemicals are a segment or class of speciality chemicals used in the construction sector. In construction undertakings, be it industrial, commercial or residential, construction chemicals are used at various stages of construction projects for high durability, longevity and environmental sustainability of the structure.
Construction Chemicals are added in specific amounts to cement, concrete and other building materials. These chemicals are mostly used to satisfy the aesthetics, design and functional requirements of the civil structures. Civil engineers, contractors, design professionals and concrete manufacturers receive assistance and training in new building constructions and renovation of old buildings to ensure the highest degree of structural stability and rigidity and that the structures are not harsh on the environment as well. The use of construction chemicals also helps owners and contractors to comply with green building norms and safety regulations for a safer construction.
The Global Construction Chemicals market is valued to be US$ 37.7 billion by 2019 increasing from US$ 21.1 billion in 2012 at CAGR of 8.7% therein, says a study by Transparency Market Research, a global market intelligence consultancy.
BRICS Nations to Propel Growth of Construction Chemicals Industry
In BRICS nations, continuous and incremental government efforts for infrastructure development and initiatives to address housing issues have led to a drastic growth of the construction sector. These steps will open a huge and immense opportunity for the growth of the construction chemicals industry in these countries by 2020.
Indian Market Scenario at a Glance
According to “Indian Construction Chemicals Market Forecast & Opportunities 2018”, the Indian construction chemicals market is forecasted to witness an exponential growth, especially in its admixtures segments in the next five years. The market revenue for the Indian construction chemicals market is expected to reach up to US$ 1.13 billion by 2018. In 2012, the admixtures and waterproofing systems constituted more than 60% of the overall construction chemicals, chemicals for repair and rehabilitation constituted 12% while 18% belonged to adhesives and sealants in construction chemicals market in India.
In terms of figures, the Indian Construction Chemicals market is expected to double to Rs 7,000 crore by 2018-19 due a push and consolidation expected in the construction sector. The industry was valued at Rs 3,500 crore in 2013-14 and grew by 12% during 2009-10 and 2013-14, says a study by FICCI.
It further added that the industry is expected to maintain growth momentum driven by smart cities. There is a huge scope, but at the same time industry should be sensitive towards environmental issues. Consumption level of construction chemicals is very low as compared to other developing nations. There is a huge gap for local industry to tap. The Indian Construction Chemicals industry is still a sunrise industry at present and is experiencing development at a decent rate. The Federation of Indian Chambers of Commerce and Industry (FICCI) in association with the Department of Chemicals and Petrochemicals (C& PC) is working hard in order to bring about consolidation in the sector.