Construction Chemicals Industry to Grow by 16% by 2018: Report

Construction Chemicals Industry

Construction Chemicals sector in India is termed as a ‘rising industry’ is growing at a rapid pace and its chances of further growth are very bright in the coming time. India has shown a growth of about 17% p.a. in last five years in this industry.

According to the knowledge paper on Indian Construction Chemicals Industry Imperatives of Growth, “The construction chemicals sector is expected to grow by 16% on an annual basis by FY18. The industry is anticipated to maintain its growth driven by untapped potential of the market and foreseen growth in construction sector over the next 5-7 years due to government’s investment plans.”

The reports said, the main growth drivers the industry is facing challenges like high price-sensitivity of customers, low awareness levels and lack of skilled labour.

Presently, this industry stands at Rs 3,600 crore, with admixtures constituting 42% of the share, followed by waterproofing and flooring agents 14%, chemicals for rehabilitation 12% and adhesives and sealants 18%.

The penetration of level of construction chemicals in China is very high (accounts for 42% of global consumption in 2012) and in India, it’s on developing stage.

As per mentioned in the report, “However the utilization of construction chemicals raises the cost of a product by 2-5%, it also adds life to it with better performance”.

Source: Economictimes.com, 9 May, 2014

 

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