Thermax, a prominent energy and environmental solutions provider, has announced the acquisition of Buildtech Products India Private Limited, a construction chemicals manufacturer specializing in admixtures, accelerators, and capsules for tunnel, infrastructure, and railway projects. This acquisition, valued at approximately ₹72 crore (subject to transaction adjustments), strengthens Thermax’s presence in the construction chemicals industry.
India’s construction chemicals market, estimated at USD 3.76 billion in 2024, is projected to grow to USD 5.17 billion by 2030, with a CAGR of 5.64%. Thermax aims to play a key role in this growth, leveraging its expertise to provide a comprehensive product range for infrastructure, industrial, and commercial sectors.
Ashish Bhandari, Managing Director and CEO of Thermax, stated, “Chemicals have been a priority for us. Buildtech’s products hold a unique place in major civil repairs, waterproofing, plumbing, painting, and related services. This acquisition combines Buildtech’s specialized offerings and reputation with Thermax’s industry knowledge, enhancing our capacity to deliver advanced solutions aligned with India’s infrastructure needs.”
Thermax Limited (NSE: THERMAX) stands as a prominent conglomerate in the energy and environmental sectors, playing a pivotal role in the global energy transition. With an expansive portfolio encompassing solutions for clean air, energy, water, and specialty chemicals, it delivers comprehensive energy and environmental management services. Their expertise, honed through long-standing partnerships across diverse industries, includes audits, consulting, project execution, and ongoing maintenance—all enhanced by cutting-edge digital tools to create a seamless management experience.
It’s engineering innovation turns costs into profitability while safeguarding the environment, benefiting both industry and society. Operating 14 manufacturing facilities across India, Europe, and Southeast Asia, and managing 43 subsidiaries globally, Thermax combines local insight with global reach.
Founded in 1995, Buildtech Products India Pvt. Ltd. is a respected leader in the production and distribution of high-quality construction materials. The company’s specialized products, including accelerators, resins, premium cement capsules, plasticizers, micro silica, and PVC membranes, are crafted for use in tunnels, infrastructure, and railways.
Buildtech proudly supports significant infrastructure projects, including hydroelectric plants, complex highway and railway tunneling, and durable bridges and flyovers, cementing its reputation in infrastructure innovation.
