Increasing Awareness for Construction Chemicals to Foray Market Growth: Ken Research
Construction sector in India is a
major growth driver for construction chemical market in India with majority of
the demand coming from large housing project, infrastructure development and
setting up of new manufacturing units. Construction chemicals accounts for
nearly 2-5% of the project cost but the benefits realized are far more than the
increase in the cost of the project. Present
levels of urban infrastructure are inadequate to meet the demands of the
existing urban population. Future cities of India will require smart real
estate and urban infrastructure. 50% of the demand for construction activity in
India comes from the infrastructure sector; the rest comes from industrial
activities, residential and commercial development and other developments. The
Indian construction industry (infrastructure and real estate) was valued at
over USD 156.7 billion in 2015 with bright prospects for the future as well.
During the 12th five year plan, USD 1trillion of infrastructure
investment is projected to take place in India.
During the
period 2008-2012, approximately 182 luxury housing projects which were
comprised with 25,570 units were launched in top seven metro cities. Increase
in number of high net worth individuals is expected to further drive the demand
for luxury housing. With growing investment in
infrastructure, it is expected that the usage of construction chemical will
increase as these structures are executed by expert engineers who have full
knowledge of benefits offered by use of construction chemical. Increased demand
for cement will drive the growth of concrete admixture, repair and
rehabilitation chemicals and thus develop the base for consumption of flooring
compounds.
With global construction and
manufacturing players entering the market, the awareness and the demand for
internationally proven products and solutions are set to increase. Major Indian
players will also follow suit as these proven technologies work and are going
to become the norm. Great deal of discussion on the need of construction
chemicals and proven concrete and waterproofing technologies were held in last
few years. Think tanks and industry veterans came together to highlight the
importance of construction chemical and related technologies through industry
meets.
Construction chemical companies in
India should create dealer network, engage existing dealers in cement and paint
business or hardware dealers to promote sales. Moreover, though there are
adequate training facilities to provide training in field related to civil and
chemical application work, there is need to create training facilities that can
club both civil and chemical expertise for safe use of construction chemicals.
Government has to actively participate to create laws that can help
construction chemical to gain more market as these chemicals ensure low energy
and material consumption during construction, according to Research Analyst,
Ken Research.
The
report titled “India
Construction Chemicals Market Outlook to 2020” provides
detailed overview on the construction chemicals market in India and helps
readers to identify the ongoing trends in the industry and anticipated growth
in future depending upon changing industry dynamics in coming years. The report is useful for construction chemical companies,
construction companies, chemical suppliers and retailer, Manufacturer and other
stakeholders to align their market centric strategies according to ongoing and
expected trends in the future.
For more information about the publication, refer to the below
link:
Contact:
Ken Research
Ankur Gupta, Head Marketing &
Communications
+91-124-4230204
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