Adhesives market witnessed a decline in the Q2 of 2020 owing to the COVID-19 situation but witnessed a positive growth in the Q3 of 2020 as soon as the lockdown restrictions were removed.
The consumer adhesives market is anticipated to
grow with a CAGR of 7.4% and the industrial adhesives market with a CAGR of 7.8%
during the forecast period FY’20-FY’26.
Growing packaging (17%) and furniture (5%)
industry in India is contributing to the surging demand for industrial
adhesives in India.
Surging Demand for Water Based Adhesives: Government and environmental legislations to
reduce volatile organic compound (VOC) emissions has derived the need for change
from solvent based adhesives. Water based adhesives are environmental friendly,
which is contributing to better traction of customers towards these products in
India. There is an increase in use of water based adhesives across various end
user segments, as they are free from harmful volatile organic compound
emissions and offer high tensile strength.
Government
Initiatives Contributing to Growth of Adhesives Market: Government initiatives
such as Make in India, Smart cities project and Digital India are contributing
to adhesive market growth in India. With the Make in India initiative, the country
is anticipated to witness entry of global players in the adhesives market in
India. Smart city projects is the other initiative taken by the government, which
will further strengthen the construction market, furniture market and
maintenance market, lead to rise in demand for the industrial and consumer
adhesives. Government has also helped
the adhesive industry by removal of licensing requirements and allowance to
entrepreneurs to set up chemicals industries.
Surging Adhesive Exports:
The adhesives market in
India is anticipated to witness a rise in exports, especially industrial
adhesives to the neighboring countries: Bhutan, Bangladesh, Nepal, Sri Lanka
and others, owing to the lack of manufacturing capability of industrial
adhesives in these countries and the growing local manufacturing of adhesives
in India.
The report titled “India Adhesives Market Outlook to FY’2026: Surging Demand for Water Based Adhesives in the Growing Wood Working Industry to Influence Market Growth”
by Ken Research suggested that the adhesives
market is further expected to grow in the near future as the market is
witnessing the entry of global players and rise in demand from packaging and
furniture industry. Government initiatives such as Make in India and Smart Cities
projects are contributing to the same. The market is expected to register a
positive CAGR of 7.6% in terms of revenue during the forecast period of
FY’20-FY’26.
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:-
Related Reports:-
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