Press Release

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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