The new report, ‘Construction
Chemicals Market in India’, states that growth in construction activities has
led to significant rise in demand for construction chemicals in the Indian
market. Construction chemicals are slowly expected to play a vital role in the
development of the Indian construction industry. Multiple benefits associated
with the application of construction chemicals have also contributed to the
robust growth of the market.
Construction chemicals are a segment
of the specialty chemicals sector. Penetration of construction chemicals for
different applications is relatively low in India as compared to the developed
nations.
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The development of the construction
chemicals market is supported by the focus on infrastructure construction in
India. Growth in real estate sector is expected to stimulate the demand for
construction chemicals. Rise in disposable income of the consumers will enable
them to spend more on construction chemicals. Growing economy of the country
will also aid the sustainable development of the Indian construction chemicals
industry.
However, the industry has also some
pain points. Low awareness about the application and benefits of construction
chemicals deters the development of the market. Further lack of standards
presents significant hindrance to the growth of the industry. Unskilled labor
along with a price sensitive consumer base adversely affects market growth.
Construction chemicals industry is
witnessing a surge in demand from the tier 2 and tier 3 cities of India.
Silicone based construction chemicals are also gaining rapid popularity.
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Development and application of eco
friendly construction chemicals has emerged as a new trend in the market.
The Indian construction chemicals
industry is a niche market at present and has strong
growth potential in the future
years.
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