Giles Everitt, MD, Chryso India
Rapid urbanisation is setting the pace of the Indian construction industry and, by extension, the construction chemicals market. The government’s ambitious ‘Housing for All’ and ‘100 Smart Cities’ programs are key growth drivers for the construction chemicals sector.
Construction chemicals are essential materials for any construction. Thanks to growing awareness in recent years, construction chemicals are increasingly used in residential and non-residential structures, as well as critical infrastructural projects like roads, bridges, power, ports and highways.
The main purpose of using construction chemicals is to enhance the strength, durability, economy and sustainability of concrete structures.
The construction chemicals market can be broadly classified into concrete admixtures, technical mortars,adhesives and sealants, waterproofing solutions, flooring compounds, repair and rehabilitation, and others.
The Indian construction chemicals sector - termed as a sunrise industry - grew at an annual rate of 12 per cent between 2009 and 2014, from Rs 1,900 crore to around Rs 3,500 crore. The sector is expected to grow at 15 per cent over the next five years, reaching Rs 7,000 crore by 2019-20.
In fact, the industry is hopeful of much higher growth rates since a new pro-reform and pro-business government came to power in New Delhi in 2014.