After
the initial period of inertia, the construction chemicals industry in India is growing at a rapid pace. Easy
adaptability to foreign technology and the entry of foreign companies in the construction sector have helped to change the
mindset of the people that has eventually result in quicker growth of the construction chemicals sector. Further, in case
of several projects funded by multilateral agencies like the ADB and World Bank, the use of construction chemicals is mandatory.
However, the practice of employing unskilled workers in construction activity is still hampering the growth of the sector,
as construction chemicals are sensitive products and its use requires basic technical expertise.
The
Indian construction chemicals industry, termed as a 'sunrise industry', is already showing colours but is yet to blossom fully.
With a vast range of products matching international standards, not only is the potential for growth immense, it keeps gathering
momentum as the awareness is spreading.
Construction
chemicals are special chemicals used in pre- and post-construction stages. Construction chemicals are used as an additive
to concrete/mortar or as an application on masonry surfaces. These chemicals modify and enhance the properties of concrete
in fresh and hardened state. Major construction chemicals are concrete admixtures, cement with admixtures, engineering grouts,
waterproofing, flooring components, concrete surface treatments and epoxies.
The
size of the industry is relatively small with an annual turnover of around Rs 300 crore. There are far too many players in
the sector with the unorganized sector contributing substantially. The market is partially organized, especially in the industrial
and infrastructure sectors. The business of construction chemicals is largely formulations based, except for a few who manufacture
resins and polymers. The main players are concentrated in getting big business from industrial and infrastructure sectors.
If this sector may be defined as organised, not more than four to five companies lead in the sector.