India Adhesives Market to Grow with a CAGR of 4.76% through 2029
Growing demand of adhesives in healthcare industry is
expected to drive the India Adhesives Market growth in the forecast period, 2025-2029.
According to TechSci Research report, “India Adhesives
Market- By Region, Competition, Forecast and Opportunities,
2019-2029”, the India Adhesives Market stood at USD 3.40 billion in 2023 and is
anticipated to grow with a CAGR of 4.76% in the forecast period, 2024-2029. Initiatives
taken by government based on adhesives has led to favorable market conditions
for the India Adhesives Market. Several factors contribute to the growth of
various adhesives products.
The ambitious project initiated by the Indian
government aims to create 100 smart cities across the country. These smart
cities are envisioned to be technologically advanced and sustainable,
integrating innovative solutions to enhance the quality of life for residents.
As a result of this massive undertaking, the construction activities associated
with the project have experienced a significant boom, leading to a surge in
demand for adhesives, particularly in the construction sector. Adhesives play a
crucial role in various construction applications, ensuring strong and durable
bonds between different materials, such as concrete, steel, and wood, thereby
contributing to the overall structural integrity of the smart cities.
In addition to the smart cities project, the
government has also launched subsidy schemes specifically targeted at
first-time home buyers. These initiatives aim to make homeownership more
accessible and affordable, thereby stimulating the housing market. As a result,
there has been a substantial increase in the construction and renovation of
residential properties. This surge in housing activities has further fueled the
demand for adhesives used in construction and interior decoration. Adhesives
are indispensable in these applications, facilitating the installation and
bonding of various elements, such as tiles, flooring, wallpapers, and fixtures,
ensuring a long-lasting and aesthetically pleasing finish to the homes.
In the healthcare industry, adhesives play a critical
role in a wide range of applications, contributing to the advancement of
medical technology. They are indispensable in medical device assembly, ensuring
the secure bonding of components in devices like catheters, syringes, and
tubing connectors. These medical grade adhesives are meticulously designed to
meet the stringent requirements of the healthcare setting, providing reliable
and long-lasting adhesion.
Moreover, in the field of wound care, adhesive
bandages and tapes are commonly employed to protect wounds from external
contaminants, promote healing, and provide a barrier against moisture. The
carefully formulated adhesive ensures that the bandages stay securely in place,
even during physical activities or exposure to water.
Furthermore, surgical adhesives have emerged as
effective alternatives to traditional sutures for closing incisions or wounds.
These adhesives offer several advantages, including reduced risk of infection,
improved cosmetic outcomes, and enhanced patient comfort. By eliminating the
need for sutures, surgical adhesives streamline the closure process and
contribute to faster recovery.
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In addition to wound care and surgical applications,
adhesives are also utilized in transdermal patches for drug delivery. These
patches adhere to the skin, facilitating the controlled release of medication
over a specified period. The adhesive component ensures that the patch remains
securely attached to the skin, allowing for continuous and convenient drug
administration.
Overall, adhesives in the healthcare industry are
versatile and indispensable, enabling advancements in medical technology,
improving patient outcomes, and enhancing the overall quality of care.
The India Adhesives Market is segmented into resin,
technology, end user, regional distribution, and company
Based on its end user, the automotive segment held the
largest market share in the forecast period. India is experiencing remarkable
growth in its automobile production, driven by the surging demand for new
vehicles. According to the International Organization of Motor Vehicle
Manufacturers, the year 2021 witnessed a significant increase in automobile production,
with India producing 4.39 million units, marking a substantial 30% rise
compared to the 3.38 million units produced in 2020. This surge in production
has prompted major providers of high-quality adhesives in India to strategize
and expand their production capacity.
Recognizing the booming demand in the automobile
sector, these providers are gearing up to meet the needs of the country's
automotive industry. An illustrative example is SIKA, which recently announced
its plans to establish a new manufacturing plant in Pune. This state-of-the-art
facility will focus on the production of adhesives products for both the
transportation and construction sectors, further solidifying SIKA's commitment
to cater to the evolving needs of the growing Indian market.
Based on region, West India segment is expected to
grow during the forecast period.
The economic prosperity of the western region,
characterized by higher disposable income and a thriving construction sector,
significantly contributes to its dominance. With increased financial resources,
individuals in this region are more inclined to invest in ambitious
construction and renovation projects. As a result, the demand for adhesives
experiences a considerable surge, driven by the need to ensure the durability
and quality of these ventures.
Major companies operating in India Adhesives Market
are:
- 3M India Limited
- Avery Dennison India Pvt. Ltd.
- H.B. Fuller India Adhesives Pvt. Ltd
- Henkel Adhesives Technologies India Private Limited
- Huntsman International I Private Limited
- Jubilant Industries Ltd.
- Pidilite Industries Limited
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“Growing application of adhesives in various end user
industries are key drivers of the adhesives market. Growth in competitive
landscape and presence of well-established companies in the market who are
dedicated to enhance their productivity of adhesives with
every passing year are anticipated to register an impressive growth to India
Adhesives Market in the forecast period.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“India Adhesives Market By Resin
(Acrylic, Cyanoacrylate, Epoxy, Polyurethane, Silicone, VAE/EVA, Others), By Technology (Hot
Melt, Reactive, Solvent-Borne, UV Cured Adhesives, Water-Borne), By End User (Aerospace,
Automotive, Building & Construction, Healthcare, Packaging, Others), By Region, By Competition Forecast &
Opportunities, 2019-2029”, has evaluated the future growth potential of India
Adhesives Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in India Adhesives Market.
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