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COVER STORY
Fast Facts
Admixture concretes are significantly used to cater to
the demand created by infrastructural and commercial
construction activities. Moreover, the construction
chemicals market is likely to achieve a faster growth
rate in the current estimation period due to the
continuation of various governmental infrastructural
projects and the start of new projects.
The adoption of green building practices and the
increasing focus on energy efficiency in buildings are
expected to create new opportunities for construction
chemicals manufacturers.
The growth of the construction industry and the
increasing demand for durable and sustainable
building materials are the major drivers of the
construction chemicals market.
Construction chemicals are vital for the construction industry. These increased permeability.
chemicals play a crucial role in the growth of the economy of The India construction chemicals market is projected to substantial
a country. The construction industry is likely to witness substantial CAGR of a magnitude of 13.1% over the forecast period from 2023
growth in India in the future. The growth is attributed to the to 2033. Further India’s construction chemicals market is estimated
significant investment in the infrastructure sector and growth in to account for around 6.3% of the global market share. In this,
building construction and real estate business. Furthermore, rising North India accumulates more than 31% of the market over the
governmental initiatives like Smart City, “Make in India”, and Housing construction chemical market of India. The growth of the market
for all, amongst others, are creating significant opportunities for the is attributed to the rapid development in infrastructure coupled
construction industry which in turn is expected to boost the sales of with increased government spending in the country are key factors
construction chemicals in India. driving the region’s construction chemical industry. Population
There are several types of chemicals that are used in the concrete growth and rise in disposable income across the region are
admixture market, such as concrete admixtures, flooring chemicals, further creating significant demand for construction chemicals for
waterproofing chemicals, repair & rehabilitation chemicals, and residential constructional activities across the region.
others. In construction, cement is frequently employed as a binding The Western region of India is anticipated to create lucrative
agent. Concrete is made by mixing cement in precisely measured growth opportunities for durable and energy-efficient construction
amounts with water, sand and crushed rock. The characteristics materials. The western region is expected to create around US$
of concrete are then enhanced by the addition of concrete 4.1 Billion of absolute dollar opportunity between 2023 and 2033.
admixtures. They offer advantages including a low cement Manufacturers are engaged in research and development
water ratio, accelerated setting time, reduced segregation, and activities to innovate as per the end user’s specific requirements.
APRIL 2023|CONSTRUCTION OPPORTUNITIES 13
