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Indian Water-based Adhesive Market
Frost & Sullivan, Nov 2010, Pages: 94
This research service titled Indian Water-based Adhesive Market provides the market sizing, competitive structure, factors influencing the market, company profiles, and revenues of the water-based adhesive market in India. In this research, Frost & Sullivan's expert analysts thoroughly examine the following product types: polyvinyl acetate (PVA), styrene acrylic emulsion, pure acrylic emulsion, and vinyl acrylic emulsion.
Market Overview
Booming Indian Infrastructure Industry Fuels Growth of the Water-based Adhesive Market
Increasing income levels and infrastructure development in India are expected to drive the growth of building materials and related products including water-based adhesives that are categorized into acrylic emulsions and PVA. The former accounts for 66 percent of the total water-based adhesive market, while the latter contributes the rest. Widely used in the construction, furniture, and packaging industries, water-based adhesives are set to gain demand in the wake of the green building initiatives in India. “Utilizing water-based adhesive helps companies reduce the impact of their carbon footprints,” says the analyst of this research. “As companies focus on developing better public relations, this can be a major factor affecting the market for water based adhesives in a longer run.”
While PVA caters to the furniture industry, acrylic emulsions cater to the paint industry. The replacement of wood furniture with alternatives such as steel, aluminum and glass poses a challenge for the market. Moreover, the PVA industry is highly dependent on distributors for growth, especially in rural areas. Acrylic emulsion manufacturers need to import all the required raw materials, as none is produced in India because it is more economical to import them. “The Indian paints industry is highly dependent on oil-based products for raw materials,” says the analyst. “With the fluctuating prices of crude oil and the shortage of certain raw materials, raw material suppliers have a high bargaining power with the adhesive manufacturers.”
With the Indian market being dominated by a few participants, price and the formulation of products are the two key differentiators in the water-based adhesive market. In response, large suppliers are spending more on branding to draw customers by increasing their awareness. “There is immense scope for raw material manufacturers to set up a plant in India, which is likely to decrease the dependency of the acrylic emulsions producers on imported raw materials,” concludes the analyst. With the boom in Indian construction and the flourishing furniture and packaging industries, there are immense possibilities for growth for the water-based adhesive market.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Poly vinyl acetate
- Styrene acrylic emulsion
- Pure acrylic emulsion
- Vinyl acrylic emulsion
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