The construction chemicals help to enhance the workability, performance, functionality, chemical resistance and durability of the construction materials. India is one of the largest construction chemical markets globally. In India, the growth in the construction activities is driven by continuing industrialization, urbanization, increasing population, growth in middle-class income, and the increase in infrastructural developments. According to the Department for Promotion of Industry and Internal Trade (DPIIT), foreign direct investments (FDIs) in the construction development sector and construction (infrastructure) activities stood at US$ 26.20 billion and US$ 27.92 billion, respectively, between April 2000-March 2022. The government of India has given a massive push to the infrastructure sector by allocating US$ 130.57 billion in order to enhance the infrastructure sector. According to the India Brand Equity Foundation, the country is planning to spend US$ 1.4 trillion on infrastructure projects through the National Infrastructure Pipeline (NIP), from 2019 to 2023, to ensure sustainable development in the country. The government of India has also decided to come up with a single window clearance facility to accord speedy approval of construction projects to boost the construction of buildings in the country. All these factors contribute to the strong growth of the construction industry in India. Further, as per the Ministry of Statistics and Programme Implementation, the construction sector in India is expected to increase at 10.7% in 2022 in a rebound from a decrease of 8.6% in 2021, due to the government’s boosted focus on infrastructure projects and smart recovery of demand for residential and commercial segments.
Related Articles
Compostable Foodservice Packaging Market Overview 2022-2028: Top Players Analysis
Compostable foodservice packaging is engineered or developed from a combination of various recycled, plant-based materials such as wood pulp, potato starch, bagasse and palm leaves. It is eco-friendly packaging that has gained popularity across foodservice industry. The increase in demand for compostable packaging in food service industry is driven by stringent government regulations. The foodservice […]
Natural Surfactants Market Demanding with CAGR of 5.0% from 2022 to 2028.
Natural surfactants are derived from different types of plants, vegetables and fruits. Natural surfactants have various beneficial properties such as low toxicity, based on renewable substances and biologically degradable nature. They are used in different application fields including, detergents, personal care, industrial and institutional cleaning, agriculture chemicals, and oilfield chemicals. Others applications of natural […]
Surging Demand for Solder Materials Market due Increasing Use of Automatic Solder Over Manual Solder by 2027
Soldering is known as a process in which two or more than two items are joined together by melting and then putting a filler metal called solder into the joint. The filler metal used in this process has a lower melting point as compared to the adjoining metal. In the past decades, nearly all solders […]