Companies Targeting Admixtures and Plasticizers to Experience a Better and More Lucrative Future
The Indian construction chemicals market is believed to be dominated by the ‘four brothers’, i.e. BASF India Limited, SIKA India Private Ltd., Fosroc Chemicals India Pty. Ltd, and Pidilite Industries Limited, which together contribute around 30%-80% of the market revenue. Among these companies, Pidilite marked the highest revenue generation of around US$ 840 Mn in 2016. There are other companies too, which are expected to expand vigorously in India’s construction chemicals market, with concrete admixtures emerging as the most preferred product type. The research report suggests that the companies capitalizing on concrete admixtures will have a positive growth trajectory as this particular product is expected to hold a market value of over US$ 1,200 Mn by the end of 2025. However, in terms of growth rate, water proofing chemicals leads the market and is expected to register a higher CAGR of 14.4% during the forecast period.
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Key Players Focusing on Expanding Their Manufacturing Capacity and Product Line Globally
In order to maintain their position in the Indian market, several companies are aiming at expanding their manufacturing capacity in different parts of India. This will also allow them capture a larger market share and enhance their brand identity. These companies were seen inaugurating their 3rd or 4th office in various parts of India during the past few years. Their expanded product line includes a wide range of products and solutions that facilitate the construction of buildings that are more durable and energy efficient and require less maintenance. This is also assisting market companies to meet the rising demand for construction chemicals and reinforce the supply chain in India.
Expansion and innovation has also given rise to the adoption of eco-friendly and cost-effective products. Latest market trends suggest that stringent regulations have pushed several manufacturers towards improvising their existing product line and exploring opportunities to introduce new and innovative products in the market. Major focus is being laid on service-life performance of protective coatings, introduction of multipurpose and hybrid coatings and eco-friendly advanced products such as nano-coatings, green coatings, etc. This shift is expected to create a profitable impact on the market and also open new vistas for companies in the construction chemicals market in India.
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