We have developed a solid portfolio for construction coatings.

- Rahul Tikoo

Managing Director, South Asia Region, Huntsman Corporation

What is your overview on the construction chemicals market in India?

Manufacturing, especially the production of chemicals and petrochemicals, has emerged as one of the high development areas for India in order to accomplish its objective of becoming a hub for global manufacturing. As per estimates, the Indian construction chemicals market is anticipated to be growing at a CAGR of 13.6% during 2021-2031.

The robust expansion of the Indian real estate sector and increasing investments in commercial and residential construction projects will fuel the demand in the Indian construction chemicals market.

A few sector-specific benefits have helped the Indian chemical industry maintain its strong position, in addition to the universal elements like India's demographic dividend, qualified talent, and strategic location. The demand for construction chemicals is largely driven by rapid urbanization, smart cities, affordable housing programs, in addition to infrastructure projects initiated by the government. Foreign direct investments are also likely to boost the sales in the country over the coming years.

Amongst construction chemicals - we are witnessing a growth in the usage of high-quality waterproofing systems, low volatile organic compounds (VOC), and insulation among both private and public companies, as well as a rise in the adoption of green construction concepts.

Industry has advanced from the conventional and traditional brick-bat coba and is progressing towards other chemistries, such as Polyurea, which is the most advanced technology in the waterproofing application. I am pleased to see this value chain-wide reform in action. I believe that we are moving in the correct direction, which will eventually enable the building and construction sector in India to develop robust and long lasting solutions.

What are the new solutions from the company in coatings and construction chemicals?

As an innovative company, Huntsman strives to create technologies that pillars centre of excellence around aspects of performance, longevity and sustainability for the society. With years of innovation, we have developed a solid portfolio for construction coatings and have been working hard to establish a significant position in building insulation, protective coatings, adhesives, and admixtures.

Our strong product portfolio includes a variety of polyurethane solutions such as Polyresyst^® polyurea coatings for waterproofing, grouting, and industrial applications. Polyplan® is polyurethane coating for applications for floor protection.

The spray foam solution products for building insulation and protection have just been introduced in the market. Together, these durable and sustainable solutions are developed in view of the emerging demand in the building and construction segment.

How do your products help in achieving the desired results in the construction projects?

Our solutions are physically and chemically intelligent to provide improved weather resistance, perform as superior water absorption barriers, and deal with several other environmental elements that may cause deterioration of structures and buildings, providing a longer lifespan.

For example, in construction projects, project turnaround time is one of the critical aspects and often difficult to meet. Thanks to advanced technology like our Polyresyst polyurea coatings, fast curing return to service is possible within 72 hours of application, thus saving enormous time.

Another critical factor is longevity of the coating system for areas like landscaping which often poses challenges to the contractors soon after hand over of the project. Our polyresyst handles this problem with its excellent root penetration properties and crack bridging abilities.

Apart from these, ease of application, low VOC and flexible to diverse climatic conditions makes it an ideal solution for waterproofing needs.

Interestingly, India's focus on going green has ensured that products for sustainable buildings lead the industry demand. Our spray foam solutions are the right product for such buildings as they offer superior insulation properties to help conserve energy.

What are the R&D initiatives from the company?

At Huntsman, we believe that the best way to address complex problems and develop genuine innovation is through genuine client involvement. As a result, we collaborate closely with them to create solutions that improve the quality, effectiveness, and sustainability of people's lives.

In order to understand their needs and establish enduring partnerships, we achieve this through pursuing a thorough understanding of our clients. Our products are used in a wide range of consumer and industrial end markets, such as aerospace, automotive and transportation, building and construction, energy, textiles, and footwear.

Our R&D teams are working to create products that are in line with major trends in the building and construction industry, such as: Green and sustainable construction, aesthetic demand, energy efficiency, fire safety, improved productivity, and durability.

We are currently developing spray foam building insulation systems because we think they could be a great option for environmentally friendly and sustainable building, as well as energy-efficient and requiring less long-term repair and maintenance. Additionally, we are developing low-VOC protective coatings for quick return to service and greater longevity.

We look forward for innovative products and solutions that are tailor-made for India. Polyurea is a very versatile and strong material - this may have included new applications like - bedliners for automobiles, landscaping opportunities in buildings, and blast mitigation application in infrastructure projects.

In the area of building insulation, where the government is working to minimize carbon footprints and increase energy efficiency, our Spray Foam solutions will show to be a fantastic value-addition.

Do you manufacture these products in India? How is the demand?

One of the biggest challenges of usage of high-end technologies like Polyurea was its availability as majority of the system is imported. This made it difficult for customers to plan for projects and made the usage of this novel technology very limited.

This crisis inspired us to manufacture locally, thus leading to lesser leading time as compared to imports of finished goods which in the current market volatility is highly unstable. This helps our customers to participate in projects actively without the major challenge of material availability issues.

With majority of the raw materials manufactured by Huntsman, we have the advantage of customizing the system as per the specific needs of the market.

In terms of demand - we are seeing a strong uptrend in demand from building and construction market compared to last some years. We are also expecting a very strong post-monsoon season coming.

How are policy initiatives such as PLI and Make in India pushing the growth of construction chemicals market in India?

The chemicals sector as a whole, which has strong ties to downstream industries including the automotive, consumer durables, engineering, food processing, and infrastructural development, is a crucial growth engine for the Indian economy.

According to research statistics by the Department of Chemicals and Petrochemicals, the Indian chemicals sector is expected to be worth US$ 178 billion in FY20 and has a significant potential to reach US$ 300 billion by FY25. The industry's proven track record and cutting-edge government-backed programs like Make in India and 'Atmanirbhar Bharat' and the 'Pradhan Mantri Awas Yojana' serve as further enablers to growth.

The government's proactive efforts, particularly the economic stimulus packages during the Covid-19 pandemic, have not only helped get the industry back on track but have also given it new energy for future growth. In addition to spurring the development of personal protective equipment, syringes, vials, wipes, medical cartridges, surgical masks and gowns, flexible food packaging, and e-commerce goods, among other things, the pandemic also helped to increase demand for several petrochemical products.

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