Future Market Insights (FMI) released a new report titled “India Construction Chemical Market – Market Analysis and Opportunity Assessment, 2014-2020”. According to the report, the Indian economy has grown impressively during the last decade; doubling at least during this time. Infrastructure development, and consequently the construction sector were given prime focus during this period. Value-wise, the contribution of the construction sector to India’s GDP increased from 6.1% in 2002–03 to around 6.9% in 2006–07, and is further estimated to account for approximately 9% in 2015. Furthermore, growth in the construction sector has remained healthy, and during the last five year has been growing at a Y-o-Y of over 10%.
Browse the full "India Construction Chemical Market Analysis & Opportunity Assessment, 2014 - 2020" report at http://www.futuremarketinsights.com/reports/details/india-construction-chemical-market
Focus on physical infrastructure was quite apparent with the government initiated high-investment programmes such as National Highways Development Programme (NHDP) and Pradhan Mantri Gram SadakYojana (PMGSY). Private companies on the other hand concentrated on industrial, commercial and residential infrastructure during this time. Major investment coupled with rapid growth in the construction sector and demand for sustainable construction considerably increased the demand for construction chemicals. Despite the fact that the use of construction chemicals increases the cost of a project, it also renders multi-fold benefit to the structures and consequently the investors.
Various initiatives and regulations catalysed the Indian construction chemicals market such as projects funded by Asian Development Bank (ADB) mandating the use of construction chemicals under stipulated guidelines. The concept of green buildings, promoted by the Indian government, is another critical factor spurring the demand for construction chemicals in India.