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
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