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The Indian construction chemicals industry is expected to double to Rs 7,000 crore by 2018-19 on the back of demand from smart cities, said a report.
The industry was valued at Rs 3,500 crore in 2013-14 and grew by 12 per cent between 2009-10 and 2013-14.
"The industry is expected to grow by 15 per cent per annum over the next five years to reach Rs 7,000 crore by 2018-19," said knowledge paper on construction chemicals by Tata Strategic Management Group and industry body Ficci.
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The industry is expected to maintain growth momentum driven by smart cities, the paper added.
Admixtures constitute majority of the construction chemicals market with 42 per cent share, the paper said.
Chemicals for repair and rehabilitation constitute another 12 per cent of the market, while remaining 18 per cent belongs to adhesives and sealants, it added.
While releasing the report Secretary Chemicals Surjit Chaudhary said there is a huge scope, but at the same time industry should be sensitive towards environmental issues.
"Consumption level of chemicals in the country is very low compared to other developing countries. There is huge gap for local industry to tap. And I know there are some issues which government has addressed and is addressing," he said.
He also added that industry is keep on saying that there are negative perception about them regarding to environmental issues.
"No one will come from outside to help industry in changing the perception. And they should be sensitive with regards to environmental issues," Chaudhary said.
