India Adhesives and Sealants Market, By Technology (Water-based, Solvent-based, Hot Melt, Reactive & Others); By Resin Type (Adhesives, Sealants); By Application (Paper & Packaging, Building & Construction, Woodworking, Transportation, Footwear & Leather,

India Adhesives and Sealants Market Size Set to Grow at CAGR of 5.12% Surpassing USD 3 Billion by 2030

India Adhesives and Sealants Market is flourishing due to an increasingly high demand for the products from the thriving packaging and building & construction sectors and other end user industries.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India Adhesives and Sealants Market size at USD 2.155 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Adhesives and Sealants Market size to expand at a CAGR of 5.12% reaching a value of USD 3.057 billion by 2030. The Adhesives and Sealants Market in India is propelled by the growing packaging and building & construction sectors. Notably, the demand for adhesives in India's packaging sector is on the rise, driven by increased end user applications. The growth of India Adhesives and Sealants Market is particularly evident in flexible packaging due to lightweight items, various sizes, extended shelf life, and recyclability. Adhesives play a crucial role in applications including flexible packaging, specialty packaging, composite containers, and frozen food packaging. The expansion is further fueled by the impact of e-commerce and online food deliveries. Also, the India Adhesives and Sealants Market is experiencing significant growth, attributed to the entry of foreign competitors, technological advancements, and supportive government and private initiatives. For instance, in December 2022, the Indian Cellular and Electronics Association of India (ICEA of India) urged the government to extend the production-linked incentive (PLI) scheme to include electronics components, adhesives, and subassemblies, with an initial budgeted commitment of INR 5,000 crore, anticipating export opportunities worth USD 100 billion during the period in analysis.

Opportunity – Increasing adoption of emerging sustainable solutions

The rise of sustainable solutions in India Adhesives and Sealants Market is evident through the growing popularity of water-borne acrylic adhesives. Recognized for their environmental friendliness and economic viability as alternatives to solvent-based counterparts, water-borne adhesives boast advantages, such as zero volatile organic compounds. Acrylics, known for durability, color retention, and quick-drying properties, find extensive applications in exterior and interior surfaces, catering to industries including building & construction, woodworking, and packaging. With India's expanding demand for paper, board, and packaging, driven by e-commerce and online food deliveries, acrylic adhesives experience heightened demand. The burgeoning food packaging sector, projected to grow by 20–25%, further propels the adoption of acrylic-based adhesives, indicating a positive trajectory for sustainable solutions in the India Adhesives and Sealants Market. Key manufacturers in this space include 3M, Anabond, Arkema, Avery Dennison Corporation, and Dow Corning Corporation.

Impact of Escalating Geopolitical Tensions on India Adhesives and Sealants Market

The India Adhesives and Sealants Market is impacted by geopolitical tensions in several ways. Adhesives and sealants play a crucial role in construction and renovation projects, providing bonding and sealing solutions for materials like stone, ceramic, and porcelain tiles. The conflict between Russia and Ukraine has disrupted the supply chain of raw materials and chemicals essential for producing stone and tile adhesives and sealants. Ukraine, a major producer and exporter of vital minerals like limestone, silica sand, and kaolin, crucial components in these products, has been significantly affected by the war. Geopolitical tensions have induced price volatility in key inputs for the stone and tile adhesives and sealants industry. Fluctuations in raw material prices, transportation costs, and currency exchange rates directly influence production costs and pricing. The ongoing conflict's uncertainty has created market instability, posing challenges for manufacturers in predicting and stabilizing prices. Uncertainties and instability affect profitability of the market players and potentially result in higher prices for end users.

India Adhesives and Sealants Market

Segmental Information

India Adhesives and Sealants Market – By Technology

Based on technology, the India Adhesives and Sealants Market is divided into Water-based, Solvent-based, Hot Melt, and Reactive & other segments. The hot melt segment holds the highest share in the India Adhesives and Sealants Market by technology, due the hot melt technology’s ease of application, non-toxic nature, and rapid curing process, making it widely used across industries. Also, hot melt adhesives typically consist of 100% solid formulations, relying on thermoplastic polymers. These adhesives maintain a solid state at room temperature but transform into a liquid state when heated above their softening point, enabling the processing.

Competitive Landscape

The India Adhesives and Sealants Market is fragmented, with numerous players serving the market. The key players dominating the India Adhesives and Sealants Market include 3M, Arkema, Astral Adhesives, Henkel Adhesives Technologies India Private Limited, Jubilant Industries Ltd, Pidilite Industries Ltd, Sika India, Dow, and MAPEI. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.

The report's in-depth analysis provides information about growth potential, upcoming trends, and the India Adhesives and Sealants Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the India Adhesives and Sealants Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.