Cleveland OH, November 2, 2023 – According to a new study by The Freedonia Group, Global Construction Chemicals, demand for construction chemicals in India is forecast to rise 7.7% per year to $3.5 billion in 2027. This will be the fastest pace of any country globally, and these significant gains will be boosted by:
healthy increases in construction activity, particularly the construction of housing and infrastructure to meet the needs of an expanding urban population
increasing intensity of construction chemical use as the construction sector develops and labor costs begin to rise
growing personal incomes, supporting at-home DIY improvement and repair projects
Products that are widely used in housing, including caulks and adhesives, grouts and mortars, and protective coatings and sealers, will benefit from continued healthy growth in residential building construction. Increasing investments in industrial and manufacturing facilities will boost demand for polymer flooring.
SPF will remain a minor product segment, due to India’s generally warm climate. However, rapid gains will occur due to increasing energy consumption regulations, which will boost its use in building construction.
Government-sponsored infrastructure improvement projects will boost demand for asphalt additives and cement and concrete additives.
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