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
Hot Tub Chemicals Market Growth with Rising Popularity among Fitness-conscious People by 2027
Hot tub is a pool of water utilized for relaxation. Hot tubs are also used for hydrotherapy. The hot tub is designed to be utilized by more than one person at a time. It is usually heated by electricity or natural gas. However, hot tubs can provide a suitable environment for pathogens to grow. […]
Webbing Market is Surging with 5.1% CAGR by 2028.
Webbing is defined as strong woven fiber, which is available in flat strips or tube form and acts as a substitute of rope. Conventionally, webbing was produced using cotton and silk, however, polymer, nylon, and polyester are replacing the traditional material. Webbing is known for its properties such as convenience in use along with tensile […]
Bioresorbable Polymers rising with CAGR of 10.3% from 2021 to 2028
Bioabsorbable polymers are the type of absorbable materials used in implanted medical devices to offer a physical structure to aid the healing process. Moreover, they also function as a drug delivery mechanism. The growing volumes of surgical procedures, rising demand for biocompatible medical devices, increasing demand for bioresorbable polymers in the drug delivery application, and […]