India May Become the Country with the Fastest Growing Demand for Construction Chemicals in the World

Recently, according to a new study on global construction chemicals by Freedonia Group, India's demand for construction chemicals is expected to grow at an annual rate of 7.7%, reaching US$3.5 billion by 2027, which may become the fastest growing market in the world.

Research shows that the following aspects are driving demand growth. The first is a healthy growth in construction activity, especially housing and infrastructure construction, to meet the needs of an expanding urban population. As the construction industry develops and labor costs rise, the intensity of use of construction chemicals continues to increase. At the same time, as people's personal income increases, home DIY renovation and repair projects will increase.

It is worth mentioning that products widely used in housing, including caulking agents and adhesives, grouts and mortars, and protective coatings and sealants, will benefit from the continued healthy growth of residential construction.

Due to India's generally warm climate, SPF will remain a minor product segment. However, rapid growth will occur due to increasing energy consumption regulations, which will promote its use in building construction.

Furthermore, government-sponsored infrastructure improvement projects will increase the demand for asphalt additives, cement and concrete additives.

It is understood that the Indian coatings market has huge potential, mainly due to its rapidly developing economy and construction industry. As India's economy continues to grow, people's living standards have improved significantly, and the demand for housing and infrastructure has also increased. This provides a broad market space for the coatings industry. In addition, the Indian government has continued to increase its support for the construction industry, providing strong policy support for the development of the coatings industry.