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India Adhesives Market, India Adhesives Industry, Market Research Report, Market Major Players, Market Future Outlook: Ken Research
January 2021

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How India Adhesives Market Is Positioned?

India adhesives market showcased a stagnant growth rate in the last few years. Adhesives industry revenue stood at INR ~ Cr in FY’2020 and recorded a CAGR of 7.5% during FY’15-FY’20. Surging demand for water based adhesives in India is contributing to the growth of the adhesives industry in India. Government initiatives such as Make in India, Smart Cities project and Digital India contributing to adhesive market growth. There is high demand in the western region of India. Fluctuating raw material prices (VAM), which move in tandem with crude oil prices, high research and development expenditure required in the adhesives market is posing as a challenge to the adhesives industry in India. Global companies are expanding their presence with the establishment of manufacturing plants in different locations to target a larger target audience across India. The market witnessed a decline in the demand for adhesives during the Q2 of 2020 owing to COVID-19 situation.

Import value of adhesives in 2019 was recorded at INR ~ Cr. Market Share of epoxy in the adhesive import value was the highest with a market share of 51% followed by hot melt, cyanoacrylate and PVA with a combined market share of ~49% in 2019. The top 3-4 adhesive import countries captured a share of 95% in 2019.

The adhesives market in India is anticipated to witness a surge in the investments from the local and international players in the next few years.

The adhesives market in India is moderately concentrated with top 4-5 adhesive companies capturing a market share of 50% in FY’20. Major companies in the adhesives market include Pidilite, Astral, Henkel adhesive technology, Nikhil adhesives, 3M, Bostik, Sika, HB Fuller and others.

India Adhesives Market Segmentation

By Type of Adhesives (Industrial and Consumer Adhesive)

The industrial adhesive segment of the adhesives market is the biggest contributor to growth in this sector and was observed to dominate the market in FY’20. The market size for industrial adhesive segment of adhesive market was recorded at INR ~ Cr in FY’20. The industrial adhesive market is witnessing huge growth in India owing to the entry of global players, adoption of new technologies and others. The growing end user industries such as packaging, automotive, furniture and other industry is leading to a surge in the demand for adhesives in India. The most demanded adhesives in the industrial adhesive market include water based adhesives.

Consumer adhesive segment holds a share of ~% in the adhesives market in India in FY’20. Consumer adhesives market in India is highly concentrated in India with majority share captured by Pidilite. Factors contributing to the growth of the consumer adhesives market include expansion of dealer network, expansion of product categories under this segment and others.

Import Scenario within India Adhesives Market

Majority import for adhesives in 2019 was observed from The USA followed by Taiwan, China, Hong Kong, Germany and others. The adhesives imported the most in 2019 included Epoxy followed by hot melt adhesives, Cyanoacrylate, PVA adhesives.

How Industrial Adhesives Market Is Positioned In India?

The industrial adhesives market in India is at a growth stage, witnessing the entry of global players in this market. Industrial adhesives market is dominated by the organized adhesives players in India. The increase in end-user applications such as composite containers, flexible packaging, frozen food packaging, and specialty packaging has raised the demand for industrial adhesives in India. Rapid urbanization and the rise in the disposable income of the above middle-class in the country have sped up the furniture industry. The growing furniture industry is likely to enhance the demand for industrial adhesives in the future. Stricter government regulations towards the production and use of industrial adhesives to minimize health and environment risks could be a deterrent in future.

The industrial adhesives market is moderately concentrated with top 8-9 players capturing a huge market share in the FY’20.

Key Segments Covered in India Adhesives Market:-

By Type of Adhesives

Industrial Adhesives

Consumer Adhesives

India Industrial Adhesives Market

By Organized and Unorganized

Organized Market

Unorganized Market

By Type of Industries

Packaging

Furniture

Manufacturing

Others

By Type of Technology

Water Based

Solvent Based

Hot Melt

Reactive Adhesives

By Type of Products

Polyurethane (PU)

Polyvinyl Acetate (PVA)

Ethylene Vinyl Acetate (EVA)

Epoxy

Acrylic

India Consumer Adhesives Market:-

By Organized and Unorganized

Organized Market

Unorganized Market

By Type of Technology

Water Based

Reactive Adhesives

Hot Melt

By Type of Product

Polyvinyl Acetate (PVA)

Cyanoacrylate

Polyurethane (PU)

Epoxy

By Type of Users

Carpenter/ Intermediaries

End Consumers

By Type of End User Application

Wood Working

Maintenance

Art & Craft

By Channel

Paint and Hardware

Stationary and Retail

E-commerce

Key Target Audience:-

Industrial Adhesive Companies

Consumer Adhesive Companies

Sealant Companies

Adhesive Raw Material Companies

Time Period Captured in the Report:-

Historical Period: FY’15-FY’20

Forecast Period: FY’20-FY’26

Consumer Adhesive Companies (Brands) Covered:-

Pidilite (Fevicol, Fevicol MR, Fevicryl, Fevistick, Feviquik, Fevitite)

Astral (Resiwood, Resiquik, Bondite)

JACPL (Jivanjor)

Huntsman (Araldite)

Jyoti Resins and Adhesives (Euro7000)

Nikhil Adhesives (Mahacol)

Camlin (Camlin Glue)

Atul ltd. (Lapox)

Industrial Adhesive Companies Covered:-

3M

Anabond

Henkel Adhesives Technology

Henkel Anand India

HB Fuller

Chemie AG

Jowat Corporation

Sika

Metlok Private Limited

Bostik

Huntsman

Pidilite

Nikhil Adhesives

Dow Corning Corporation

Sika

Jesons Industries ltd.

Visen Industries

For More Information on the research report, refer to below link:-

India Adhesives Market

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