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India Adhesives Market - Forecasts from 2023 to 2028

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  • 80 Pages
  • January 2023
  • Region: India
  • Knowledge Sourcing Intelligence LLP
  • ID: 5743431

The Indian adhesives market was valued at US$930.464 million in 2021 and is expected to grow at a CAGR of 10.26% over the forecast period to reach US$1842.936 million by 2028.

The expanding requirement from the packaging market and the country's rising automobile manufacturing are the main drivers of the Indian adhesive market. With more end-user applications, the need for adhesives in the packaging sector is growing. The demand for packaging, particularly flexible packaging, has been rising in India result of several reasons including light weighing items, diverse sizes, shelf life, and ease of recycling. Flexible packaging, specialty packaging, composite containers, and frozen food packaging are some of the packaging applications that use adhesives and sealants. The expansion of adhesives in the packaging sector in the area has also been fueled by elements like e-commerce or food deliveries over the internet. In addition, the adhesive market in India is expanding significantly as a result of the arrival of foreign competitors, the use of new technologies, and other factors.

Government and private efforts to expand the development of this market have acted as a boost to the Indian adhesive market. For example, the government was petitioned by The Indian Cellular and Electronics Association of India (ICEA of India) in December 2022 to expand the production-linked incentive (PLI) scheme to include electronics components, adhesives and subassemblies, with an initial budgeted commitment of Rs 5,000 crore. In the next five years, the organization predicts that export opportunities for components and subassemblies might total US$100 billion.

Recent Launches in the market

Bostik launched two new adhesives in India in December 2022. They introduced two new products for the Indian tape and label sector: HM2060 and HM2070 from Bostik. Bostik HM2060 glue was created for the fast-moving consumer goods (FMCG), pharmaceutical, and logistics industries. Bostik HM2060 is the ideal option for labels that must withstand high converting speeds of more than 100 meters per minute because it serves as both a hot melt pressure sensitive adhesive (HMPSA) and a label. Bostik HM2070 is a tape adhesive created to meet the rising need for environmentally friendly packaging in India's e-commerce sector. Bostik HM2070 was created specifically for use with kraft paper-based bags and thicker PE-based bags with films up to 120 microns.

WD-40 was introduced in December 2022 by Indian adhesives company Pidilite Returns. WD-40 is a multi-purpose spray that can serve as a lubricant, rust preventative, penetrant, and moisture displacer. Among other things, it can fix rust, unstick locks, and stop creaky door hinges. The product is expected to enter Indian homes in the same manner that the other items in Pidilite's range have done. Although WD-40 is already a standard in industrial maintenance, it has organically made its way into homes through applications.

By technology, water-based adhesives are poised to grow throughout the forecast period.

Based on technology, the India Adhesives market is segmented into water-based, solvent-based, hot-melt, reactive, and others. Water-based adhesives are poised to grow throughout the predicted period owing to their non-toxic and environment-safe characteristics, which makes them particularly suitable for packaging purposes in the FMCG industry as they do not contaminate the products inside. The FMCG industry in India is growing at a considerable rate, which is thereby expected to drive the water-based adhesives market segment as well during the forecast period. Further, the innovation and development of new products in the country is further expected to drive the market. For instance, in September 2021, H.B. Fuller India launched the Swift®tak PS5600-I, which is a water-based and food-safe adhesive under its Swift®tak brand to meet the rising paper straws demand in the country.

Based on application, the Indian adhesives market is segmented into packaging, construction, consumer appliances, leather, laminates, automobile, and others.

India is experiencing significant growth in its automobile production owing to the growing demand for new vehicles. For instance, according to the International Organization of Motor Vehicle Manufacturers, in 2021, automobile production in India stood at 4.39 million units showing a 30% increase in production over 3.38 million units produced in 2020. Hence, major providers of high-quality adhesives in India are further planning to expand their production capacity to cater to the growing demand for the automobile sector in the country. For instance, in December 2021, SIKA announced its plans to expand the production capacity of its high-quality adhesives through the establishment of a new manufacturing plant in Pune that will produce adhesives products for transportation as well as the construction sector.

Market Segmentation:

By Technology

  • Water-Based
  • Solvent-Based
  • Hot-Melt
  • Reactive and others

By Products

  • Acrylic
  • Epoxy
  • Ethyl Vinyl Acetate
  • Polyurethane
  • Polyvinyl Acetate
  • Others

By Application

  • Packaging
  • Construction
  • Consumer Appliances
  • Leather
  • Laminates
  • Automobile
  • Others

Table of Contents

1.1. Market Overview
1.2. Market Definition
1.3. Market Segmentation

2.1. Research Data
2.2. Research Design

3.1. Research Highlights

4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5.1. Introduction
5.2. Water-Based
5.3. Solvent-Based
5.4. Hot-Melt
5.5. Reactive and others

6.1. Introduction
6.2. Acrylic
6.3. Epoxy
6.4. Ethyl Vinyl Acetate
6.5. Polyurethane
6.6. Polyvinyl Acetate
6.7. Others

7.1. Introduction
7.2. Packaging
7.3. Construction
7.4. Consumer Appliances
7.5. Leather
7.6. Laminates
7.7. Automobile
7.8. Others

8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix

9.1. 3M India
9.2. National Starch
9.3. Bostik Findley
9.4. Pidilite Industries Ltd.
9.5. Sika AG
9.6. H.B. Fuller Company
9.7. Henkel Adhesives Technologies India Private Limited
9.8. Nikhil Adhesives Limited

Companies Mentioned

  • 3M India
  • National Starch
  • Bostik Findley
  • Pidilite Industries Ltd.
  • Sika AG
  • H.B. Fuller Company
  • Henkel Adhesives Technologies India Private Limited
  • Nikhil Adhesives Limited



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