India Polyurethane Adhesives & Sealants Market to Grow with a CAGR of 5.24% through 2029
Growth in research and development activities is
expected to drive the India Polyurethane Adhesives & Sealants Market growth
in the forecast period, 2025-2029
According to TechSci Research report, “India
Polyurethane Adhesives & Sealants Market- By Region, Competition,
Forecast and Opportunities, 2019-2029”, the India Polyurethane Adhesives & Sealants
Market stood at USD 315.24 million in 2023 and is anticipated to grow with a
CAGR of 5.24% in the forecast period, 2024-2029. Initiatives taken by
government based on polyurethane adhesives & sealants has led to favorable
market conditions for the India Polyurethane Adhesives & Sealants Market.
Several factors contribute to the growth of various polyurethane adhesives
& sealants products. The Smart Cities
Mission, initiated by the Government of India, is an ambitious program aimed at
revitalizing and transforming 100 cities across the country. With a strong
focus on citizen-friendliness and sustainability, this mission has spurred a
significant surge in construction activities, leading to a substantial increase
in the demand for high-quality adhesives and sealants. The Indian government's unwavering commitment to
boosting infrastructure development and promoting real estate projects has
played a pivotal role in driving the remarkable growth of the adhesives and
sealants market. As construction activities continue to rise, fueled by a
relentless pursuit of modernization and urbanization, the demand for reliable
and efficient bonding solutions has soared, creating a flourishing market for
adhesives and sealants in India.
One
of the positive outcomes of increased research and development (R&D)
efforts is the creation of highly tailored and customized solutions to meet the
needs of diverse applications. As a result, the versatility of polyurethane
adhesives and sealants has significantly expanded, allowing them to be employed
in an even wider range of industries and sectors than ever before. This
increased versatility has led to a surging demand for these innovative products
across various sectors, including construction, automotive, electronics, and
more. With their exceptional performance characteristics, polyurethane
adhesives and sealants have become indispensable in providing reliable and
long-lasting bonding and sealing solutions for countless applications.
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The India Polyurethane Adhesives & Sealants Market
is segmented into technology, application, regional distribution, and company. Based
on its technology, the reactive segment held the largest market share in the
forecast period. Reactive technology offers a remarkable level of flexibility
when it comes to applications. These adhesives can be precisely formulated to
react and cure at varying rates, providing manufacturers with the ability to
customize the product to meet highly specific application requirements. This
adaptability empowers manufacturers to optimize performance, enhance
durability, and achieve superior results in a wide range of industries and
scenarios. Whether it's in aerospace, automotive, or construction, the
versatility of reactive adhesives ensures that they are the ideal choice for
meeting diverse and demanding application needs. Based on region, West India
segment is expected to grow during the forecast period.
In West India, there is a significant and growing
consumer demand for sustainable and eco-friendly materials. This has led to
increased interest in polyurethane adhesives and sealants, which are known for
being solvent-free and thus considered more environmentally friendly compared
to some other types of adhesives. The use of polyurethane adhesives and
sealants not only meets the demand for sustainable products but also
contributes to the preservation of the environment by reducing the release of
harmful substances. This trend reflects a shift towards more conscious
consumption and a greater emphasis on environmentally responsible choices in
the region.
Major companies operating in India Polyurethane
Adhesives & Sealants Market are:
- Huntsman International (India) Private Limited
- Pidilite Industries Limited
- Sika India Pvt. Ltd.
- 3M India Limited
- Bostik India Private Limited
- Anabond Limited
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“Growing application of polyurethane adhesives & sealants
in various end user industries are key drivers of the polyurethane adhesives
& sealants market. Growth in competitive landscape and presence of well-established
companies in the market who are dedicated to enhance their productivity of polyurethane
adhesives & sealants with every passing year are anticipated to register an
impressive growth to India Polyurethane Adhesives & Sealants Market in the
forecast period.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“India Polyurethane Adhesives & Sealants Market By Technology (Water Based, Solvent Based, Hotmelt &
Reactive), By Application
(Automotive, Construction, Furniture, Others),
By Region, By
Competition Forecast & Opportunities, 2019-2029”, has evaluated
the future growth potential of India Polyurethane Adhesives & Sealants
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 Polyurethane
Adhesives & Sealants Market.
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