Print
Email
The construction chemical industry in India continues to be an attractive hub for opportunities, even in the current macroeconomic environment where businesses are disrupted by rising inflation and interest rates. An increasing number of commercial and residential construction activities, innovation in architectural engineering and design, affordable homes, and the rising trend of urbanization are expected to aid the growth of the construction chemical market over the next five years. To tap into the growing market, foreign players are setting up a construction chemical manufacturing base in India in 2023.
Xypex Chemical Corporation provides a range of concrete waterproofing and protection products globally. These products have been used in the construction as well as restoration of buildings' foundations, tunnels, manholes, marine structures, water, and sewage treatment infrastructure.
These products are offered in the form of admixtures and coatings. When applied, the crystalline waterproofing substance interacts with the by-products generated during cement hydration as well as other mineral components present in the concrete. This chemical reaction leads to the formation of insoluble crystals, which effectively obstruct the pores, hairline cracks, and capillaries. As a result, a permanent barrier is established, preventing the passage of water.
In addition to government projects, the firm has also participated in other construction projects over the last few years in India. This includes commercial as well as residential construction. The firm also played a significant role in the waterproofing of the Delhi Metro expansion project.
The presence of Xypex Chemical Corporation is expected to further drive the competitive landscape in the fast-growing Indian construction chemical industry. The government has announced a significant boost in investment in infrastructure and affordable housing segment for FY 2023 – 24. As a result, the industry is poised for accelerated growth, as consumption of construction chemicals is set to increase rapidly over the next few quarters.
To tap into the growing demand and provide innovative solutions in the market, several players in the segment are expanding their product lines by increasing their capital expenditure.
Alongside Nippon Paint India, Indigo Paints also announced that it is planning to foray into the waterproofing and construction chemicals market in India in Q1 2023. The firm is potentially seeking a tenth of its revenue through its foray into the construction chemicals market over the next few years. Unfazed by the recently growing competition in the space, which also includes the entry of Grasim Industries in the segment, Indigo Paints is optimistic about its growth in the construction chemicals industry. Unlike Nippon Paint India, Indigo Paints has been known for its strong presence in Tier III and IV cities. Now, the firm is planning to penetrate into the larger towns of India.
With the market expected to record strong growth, ConsTrack360 expects more global players to expand their manufacturing and distribution network in India over the next three to four years. The entry of global giants will also drive innovation, while also leading to mergers and acquisition deals from the short to medium-term perspective in the segment.
