Market Size of india adhesives Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2028 |
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Market Size (2024) | USD 2.87 Billion |
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Market Size (2028) | USD 3.76 Billion |
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Largest Share by End User Industry | Packaging |
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CAGR (2024 - 2028) | 6.98 % |
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Fastest Growing by End User Industry | Aerospace |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
India Adhesives Market Analysis
The India Adhesives Market size is estimated at 2.87 billion USD in 2024, and is expected to reach 3.76 billion USD by 2028, growing at a CAGR of 6.98% during the forecast period (2024-2028).
2.87 Billion
Market Size in 2024 (USD)
3.76 Billion
Market Size in 2028 (USD)
7.51 %
CAGR (2017-2023)
6.98 %
CAGR (2024-2028)
Largest Market by End-user Industry
51.16 %
value share, Packaging, 2023
The packaging industry is the dominant end-user industry in the market owing to its widespread applications, including labels, tapes, carton sealing and joining, labeling, and others.
Fastest Growing Market by End-user Industry
8.26 %
Projected CAGR, Aerospace, 2024-2028
The aerospace industry is expected to be the fastest end-user segment in the market owing to the rapid expansion of general aviation and military aviation in the domestic market.
Largest Market by Technology
36.39 %
value share, Hot Melt, 2023
In India, hot melt adhesives gain the major market share owing to their easy applicability, non-toxic, and fast curing process across several industries.
Largest Market by Resin
22.03 %
value share, Polyurethane, 2023
Polyurethane adhesives occupied the largest share owing to their wide applications in building construction, woodworking, and automotive industries, specifically for exterior applications.
Leading Market Player
20.68 %
market share, Pidilite Industries Ltd., 2021
Pidilite Industries Ltd is the leading adhesives manufacturer in the market. This can be attributed to the large product portfolio for different industrial applications, along with the strong presence of local distributing channels.
Emerging automotive market and evolving trend of technology driven packaging expected to boost the consumption of adhesives in India
- The consumption of adhesives in India has shown a downward trend in 2020 due to the impact of COVID-19. The production was reduced by 9.94% in terms of value in the same year compared to 2019. The lockdown in the country for nearly three months, due to which production facilities were shut down, and raw material shortages are some of the major reasons for the decline in adhesives consumption in India.
- Packaging is the fifth-largest industry in India's economy and one of the fastest-growing sectors in the country. The sector is developing at a CAGR of 22% to 25%, according to the Packaging Industry Association of India (PIAI). Over the last several years, the packaging industry has played a vital role in driving technology and innovation growth in the country and delivering value to other manufacturing sectors like agriculture and FMCG. According to the Indian Institute of Packaging (IIP), packaging consumption in India has surged 200% over the last decade, reaching 8.6 kg per person per year in 2020 from 4.3 kilograms per person per year in 2010.
- India is also a significant vehicle exporter, with high export growth expected in the near future. Furthermore, various efforts by the Government of India and key automobile firms in the Indian market will likely propel India to the forefront of the two- and four-wheeler markets in the coming periods. The Indian passenger vehicle market was valued at USD 32.70 billion in 2021, and it is predicted to reach USD 54.84 billion by 2027, with a CAGR of more than 9% between 2022 and 2027. The electric vehicle (EV) industry in India is expected to reach USD 7.09 billion by 2025. This tends to increase the demand for adhesives.
Understand The Key Trends Shaping This Market
