INDUSTRY OUTLOOK

1. Coatings (Paints, Putty, Textures)

Growth Drivers:

• Rising demand from real estate, infrastructure, and home renovation.
• Government housing schemes (e.g., PMAY) and rapid urbanization.
• Increased consumer preference for low-VOC and eco-friendly coatings.

Market Size & Trends:

• Indian paints & coatings market estimated at ₹70,000+ Cr,~10–12% CAGR.
• Premium emulsion and textured coatings seeing higher demand in metros and Tier II cities.
• Spray plasters gaining popularity due to speed and efficiency.

2. Windoors (Windows & Doors – Steel, uPVC, ABS, Aluminium)

Growth Drivers:

• Urban housing boom, commercial real estate growth, smart cities, and infrastructure.
• Shift from traditional wood to uPVC/aluminium due to low maintenance and energy efficiency.

Market Size & Trends:

• Indian uPVC window and door market to grow at ~7–9% CAGR through FY2030.
• Government energy codes (ECBC) promoting insulated and sealed window systems.
• Modular and pre-fabricated window/door solutions in demand.

3. Walls (AAC Blocks, Mortars, Tile Adhesives, Fly Ash Bricks)

Growth Drivers:

• Strong push for sustainable and lightweight construction materials.
• Rapid adoption in affordable and mid-income housing projects.
• Increasing cement and mortar automation in Tier I/II cities.

Market Size & Trends:

• AAC blocks market growing at ~14–15% CAGR, driven by real estate and green building codes.
• Dry-mix mortars and tile adhesives expanding rapidly due to ease of use and reduced wastage.
• Fly-ash bricks promoted under sustainable building initiatives.

4. Services (Installation, Maintenance, Warranty Solutions)

Growth Drivers:

• Growing demand for bundled turnkey solutions from B2B, government, and retail clients.
• Increased awareness of post-installation care, product warranties, and AMC (Annual Maintenance Contracts).
• Rising preference for one-stop service providers in real estate and institutional projects.

Market Trends:

• Shift from product-only to product+service hybrid models (value-added services).
• Digitization of service delivery (CRM, field support apps, e-claims).
• 10-year warranties and installation guarantees gaining traction in uPVC and aluminium segments.

Sector-wide Growth Catalysts

• Government Initiatives: PMAY, Smart Cities, Housing for All, National Infrastructure Pipeline (NIP).
• Private Sector Demand: Increased construction in IT parks, malls, logistics hubs, hospitals.
• ESG Focus: Preference for green-certified materials, low-carbon footprints, circular economy.
• Tier II/III Markets: Huge untapped potential for affordable and efficient solutions in non-metro cities.

Summary

With India targeting a $1.4 trillion infrastructure investment over the next 5 years, and continued growth in housing, commercial, and industrial real estate, construction material companies with a diversified vertical approach (like Coatings, Windoors, Walls, and Services) are poised for strong growth, especially if they invest in automation, branding, and pan-India distribution.

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