India Adhesives and Sealants Market - Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Adhesive Technology (Water-borne, Solvent-borne, Reactive, Hot Melt, and Other Technologies), Sealant Product Type (Silicone, Polyurethane, Acrylic, Polyvinyl Acetate, and Other Sealant Product Types), End-user Industry (Building and Construction, Paper, Board, and Packaging, Transportation, Woodworking and Joinery, Footwear and Leather, Healthcare, Electrical and Electronics, and Other End-user Industries)

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

CAGR:

7 %

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Market Overview

The Indian adhesives and sealants market is estimated to witness a healthy growth, at an estimated CAGR of over 7%, over the forecast period. Increasing demand form packaging industry is expected to drive the market during the forecast period.

  • Growth of defense manufacturing in the country is likely to create opportunities for the market’s growth in the future.
  • By end-user industry, the paper, board, and packaging segment dominated the market.

Scope of the Report

The India adhesives and sealants market report includes:

Adhesives Technology
Water-borne
Acrylic
Polyvinyl Acetate (PVA) Emulsion
Ethylene Vinyl Acetate (EVA) Emulsion
Polyurethane Dispersion and CR (Chloroprene Rubber) Latex
Other Water-borne Adhesives
Solvent-borne
Chloroprene Rubber
Poly Acrylate (PA)
Styrenic Block Copolymers
Other Solvent-borne Adhesives
Reactive
Polyurethane
Epoxy
Cyanoacrylate
Modified Acrylic
Anaerobic
Silicone
Other Reactive Adhesives
Hot Melt
Ethyl Vinyl Acetate
Styrenic Block Copolymers
Thermoplastic Polyurethane
Other Hot Melt Adhesives
Other Technologies
Sealants Product Type
Silicone
Polyurethane
Acrylic
Polyvinyl Acetate
Other Sealant Product Types
End-user Industry
Buildings and Construction
Paper, Board, and Packaging
Transportation
Woodworking and Joinery
Footwear and Leather
Healthcare
Electrical and Electronics
Other End-user Industries

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Key Market Trends

Increasing Usage of Acrylic Water Borne Adhesives

  • Water-borne acrylic adhesives are considered as an environmentally friendly and economically feasible substitute to solvent-based adhesives. The major advantage of water-borne adhesives is the absence of volatile organic compounds.
  • The properties of the acrylics include durability, color retention, quick-drying, environmentally friendly, impact-resistant, etc. Acrylics are majorly used on exterior and interior surfaces, such as on frames, doors, wall surfaces, trim, etc.
  • Acrylics can be applied to areas, such as primed metals, direct to metal applications, wood, and masonry surfaces. Acrylics are also used directly to metal or as a topcoat for many colors and gloss levels.
  • The application of the acrylics includes bonding wood, paper, wall panel bonding, sealing (grouts), textiles bonding, paper stamps, leather tile envelopes, labels, etc. Acrylics are used by various end-user industries, such as buildings and construction, woodworking and joinery, paper, board, packaging, etc.
  • Furthermore, acrylics are majorly used by paper, board, and packaging industries. Packaging industry dominates the demand for acrylic adhesives with numerous applications in products, such as tapes, labels, cases, and cartons.
  • Factors, such as e-commerce, online food deliveries, and innovation and development in the packaging industry has been driving the growth of the packaging industry in the country.

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Rising Demand from Building and Construction Industry

  • Adhesives and sealants have been extensively used in the building and construction industry owing to their characteristics and physical properties. These properties include good adhesion and elasticity, cohesion, high cohesive strength, flexibility, the high elastic modulus of the substrate, resistance from thermal expansion, and environmental resistance from UV light, corrosion, saltwater, rain, and other weathering conditions.
  • They have a myriad of applications. They are used in heating, ventilation, air conditioning (HVAC), concrete, joint cement, manufactured housing, resilient flooring, roofing, wall covering, pre-finish panels, drywall lamination, joints in exterior walls, spandrels, repair of larger cracks, the perimeter of doors and fixed window frames, etc.
  • The construction sector is one of the largest sectors in the country, and it is growing at a healthy rate, owing to the rising population, increase in middle-class income, and urbanization.
  • The government is taking various steps to restructure corporate taxes and make them more appealing to foreign investors. The move is anticipated to boost investments in the healthcare, education, housing, transport, and water infrastructure sectors.
  • Investments worth USD 31,650 billion have been proposed by 99 cities under their smart city plans. 100 smart cities and 500 cities are likely to invite investments worth INR 2 trillion in the next 5 years.
  • All the aforementioned factors, in turn, are expected to boost the demand for adhesives and sealants in the country during the forecast period.

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Competitive Landscape

The India adhesives and sealants market is consolidated, with the top four players with an approximate market share of 85%. The major companies include Pidilite Industries Ltd, Henkel AG & Co. KGaA, Sika AG, Arkema Group, and H.B. Fuller Company, amongst others.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand from Packaging Industry

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Impact of COVID-19 Pandemic

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Adhesives Technology

      1. 5.1.1 Water-borne

        1. 5.1.1.1 Acrylic

        2. 5.1.1.2 Polyvinyl Acetate (PVA) Emulsion

        3. 5.1.1.3 Ethylene Vinyl Acetate (EVA) Emulsion

        4. 5.1.1.4 Polyurethane Dispersion and CR (Chloroprene Rubber) Latex

        5. 5.1.1.5 Other Water-borne Adhesives

      2. 5.1.2 Solvent-borne

        1. 5.1.2.1 Chloroprene Rubber

        2. 5.1.2.2 Poly Acrylate (PA)

        3. 5.1.2.3 Styrenic Block Copolymers

        4. 5.1.2.4 Other Solvent-borne Adhesives

      3. 5.1.3 Reactive

        1. 5.1.3.1 Polyurethane

        2. 5.1.3.2 Epoxy

        3. 5.1.3.3 Cyanoacrylate

        4. 5.1.3.4 Modified Acrylic

        5. 5.1.3.5 Anaerobic

        6. 5.1.3.6 Silicone

        7. 5.1.3.7 Other Reactive Adhesives

      4. 5.1.4 Hot Melt

        1. 5.1.4.1 Ethyl Vinyl Acetate

        2. 5.1.4.2 Styrenic Block Copolymers

        3. 5.1.4.3 Thermoplastic Polyurethane

        4. 5.1.4.4 Other Hot Melt Adhesives

      5. 5.1.5 Other Technologies

    2. 5.2 Sealants Product Type

      1. 5.2.1 Silicone

      2. 5.2.2 Polyurethane

      3. 5.2.3 Acrylic

      4. 5.2.4 Polyvinyl Acetate

      5. 5.2.5 Other Sealant Product Types

    3. 5.3 End-user Industry

      1. 5.3.1 Buildings and Construction

      2. 5.3.2 Paper, Board, and Packaging

      3. 5.3.3 Transportation

      4. 5.3.4 Woodworking and Joinery

      5. 5.3.5 Footwear and Leather

      6. 5.3.6 Healthcare

      7. 5.3.7 Electrical and Electronics

      8. 5.3.8 Other End-user Industries

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 Anabond

      3. 6.4.3 Arkema Group

      4. 6.4.4 Ashland

      5. 6.4.5 Atul Ltd

      6. 6.4.6 AVERY DENNISON CORPORATION

      7. 6.4.7 Benson Polymers Limited

      8. 6.4.8 Dow

      9. 6.4.9 DuPont

      10. 6.4.10 H.B. Fuller Company

      11. 6.4.11 Henkel AG & Co. KGaA

      12. 6.4.12 Hexion

      13. 6.4.13 Huntsman International LLC

      14. 6.4.14 Illinois Tool Works Inc.

      15. 6.4.15 Jowat SE

      16. 6.4.16 Jubilant Industries Ltd

      17. 6.4.17 KLEBCHEMIE GmbH & Co. KG

      18. 6.4.18 LORD Corporation

      19. 6.4.19 MAPEI

      20. 6.4.20 Metlok Private Limited

      21. 6.4.21 Paramelt

      22. 6.4.22 Permabond LLC

      23. 6.4.23 Pidilite Industries Limited

      24. 6.4.24 Sika AG

      25. 6.4.25 Wacker Chemie AG

      26. 6.4.26 Welbound

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growth of Defense Manufacturing in the Country

    2. 7.2 Increasing Electronics Assembly Operations in India

** Subject to Availability

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