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India Adhesives & Sealants Market - Growth, Trends, and Forecast (2019 - 2024)

The India Adhesives and Sealants Market is Segmented by Adhesives - by Technology (Water-borne, Solvent-borne, Reactive, Hot Melts, and Other Technologies), Sealants - by Product Type (Silicone, Polyurethane, Plastisol, Emulsion, Butyl, Polysulfide, Silyl Modified, Other Product Types), End-user Industry (Building and Construction, Paper, Board, and Packaging, Woodworking and Joinery, Transportation, Footwear and Leather, Healthcare, Electrical and Electronics, and Other End-user Industries).

Market Snapshot

India adhesives and sealants market- Market summary
Study Period:

2016-2024

Base Year:

2018

Key Players:

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Market Overview

The India adhesives & sealants market is expected to record a CAGR of 11.17% during the forecast period of 2019–2024. The major factor driving the market studied is the increasing demand from the packaging industry and the growth of automotive production in the country.

  • Challenges in the procurement of raw material are expected to hinder the market's growth.
  • Increasing electronic operations in India are likely to act as an opportunity in the forecast period.

Scope of the Report

The India adhesives & sealants market report includes:

Adhesives - by Technology
Water-borne
Acrylics
Polyvinyl Acetate (PVA) Emulsion
Ethylene Vinyl Acetate (EVA) Emulsion
Polyurethane Dispersions (PU)
Chloroprene Rubber (CR ) Latex
Other Water-borne Technologies
Solvent-borne
Styrene-butadiene Rubber (SBR)
Chloroprene Rubber
Poly Acrylate (PA)
Polyurethane (PU)
Other Solvent-borne Technologies
Reactive
Epoxy
Modified Acrylics and Cyanoacrylates
Silicone
Polyurethane
Anaerobic
Other Reactive Technologies
Hot Melts
Ethyl Vinyl Acetate
Synthetic Rubbers
Other Hot Melts
Other Technologies
Sealants - by Product Type
Silicone
Polyurethane
Plastisol
Emulsion
Butyl
Polysulfide
Silyl Modified
Other Product Types
End-user Industry
Buildings & Construction
Paper, Board, and Packaging
Woodworking and Joinery
Transportation
Footwear and Leather
Healthcare
Electrical and Electronics
Other End-user Industries

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Key Market Trends

Increasing Demand from the Packaging Industry

  • The demand for adhesives in the packaging industry is increasing with the growing number of end-user applications. The packaging applications that use adhesives and sealants include flexible packaging, specialty packaging, composite containers, and frozen food packaging.
  • In 2018, the per capita packaging consumption of India was significantly low at 8.7 kg, compared to countries, such as Taiwan and Germany, where it was 19 kg and 42 kg respectively. Thereby, presenting the packaging industry with significant opportunity to grow, in-turn, boosting the adhesives and sealants market growth rate in the packaging sector.
  • India is the second-largest producer of food in the world and one of the major consumers of packaged foods and beverages. As per the Packaging Industry Association of India (PIAI), the Indian packaging industry is currently the fifth-largest sector of India’s economy and has a growth rate of 22-25% per year.
  • Due to the various packaging requirements, such as light weighing products, different sizes, shelf life, and ease of recycling, the demand for packaging, especially flexible packaging, has been increasing in India. Flexible packaging has been the most suitable option for addressing these concerns and is being widely adopted for several products across different industries.
India adhesives and sealants market- Revenue

To understand key trends, Download Sample Report

Acrylics to Dominate the Water-borne Adhesives Segment

  • 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 region.
India adhesives and sealants market- By technology

Competitive Landscape

The India adhesives and sealants market is consolidated, with the top four players with an approximate market share of 85.30%. The major companies include Pidilite Industries Ltd, Henkel AG & Co. KGaA, Sika AG, Arkema Group (Bostik India), and H.B. Fuller Company. 

Major Players

  1. Pidilite Industries Ltd
  2. Henkel AG & Co. KGaA
  3. Sika AG
  4. Arkema Group (Bostik India)
  5. H.B. Fuller Company

* Complete list of players covered available in the table of contents below

India adhesives and sealants market- concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 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 Growth of Automotive Production in the Country

    2. 4.2 Restraints

      1. 4.2.1 Challenges in Procurement of Raw Material

    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 - by Technology

      1. 5.1.1 Water-borne

        1. 5.1.1.1 Acrylics

        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 Dispersions (PU)

        5. 5.1.1.5 Chloroprene Rubber (CR ) Latex

        6. 5.1.1.6 Other Water-borne Technologies

      2. 5.1.2 Solvent-borne

        1. 5.1.2.1 Styrene-butadiene Rubber (SBR)

        2. 5.1.2.2 Chloroprene Rubber

        3. 5.1.2.3 Poly Acrylate (PA)

        4. 5.1.2.4 Polyurethane (PU)

        5. 5.1.2.5 Other Solvent-borne Technologies

      3. 5.1.3 Reactive

        1. 5.1.3.1 Epoxy

        2. 5.1.3.2 Modified Acrylics and Cyanoacrylates

        3. 5.1.3.3 Silicone

        4. 5.1.3.4 Polyurethane

        5. 5.1.3.5 Anaerobic

        6. 5.1.3.6 Other Reactive Technologies

      4. 5.1.4 Hot Melts

        1. 5.1.4.1 Ethyl Vinyl Acetate

        2. 5.1.4.2 Synthetic Rubbers

        3. 5.1.4.3 Other Hot Melts

      5. 5.1.5 Other Technologies

    2. 5.2 Sealants - by Product Type

      1. 5.2.1 Silicone

      2. 5.2.2 Polyurethane

      3. 5.2.3 Plastisol

      4. 5.2.4 Emulsion

      5. 5.2.5 Butyl

      6. 5.2.6 Polysulfide

      7. 5.2.7 Silyl Modified

      8. 5.2.8 Other Product Types

    3. 5.3 End-user Industry

      1. 5.3.1 Buildings & Construction

      2. 5.3.2 Paper, Board, and Packaging

      3. 5.3.3 Woodworking and Joinery

      4. 5.3.4 Transportation

      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

      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 DowDuPont

      9. 6.4.9 H.B. Fuller

      10. 6.4.10 Henkel AG & Co. KGaA

      11. 6.4.11 Huntsman Corporation

      12. 6.4.12 Jowat SE

      13. 6.4.13 Jubilant Industries Ltd

      14. 6.4.14 KLEBCHEMIE GmbH & Co. KG

      15. 6.4.15 LORD Corporation

      16. 6.4.16 MAPEI

      17. 6.4.17 Metlok Private Limited

      18. 6.4.18 Paramelt

      19. 6.4.19 Pidilite Industries Ltd

      20. 6.4.20 Sika AG

      21. 6.4.21 Welbound

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

    1. 7.1 Increasing Electronic Operations in India

**Subject to Availability

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