Burnaby, Canada, September 17, 2015 --(PR.com
)-- According to TechSci Research report, “India AdhesivesMarket Forecast & Opportunities, 2020,” adhesives market in India is anticipated to reach 379 thousand metric tons by 2020. Adhesives are widely used across numerous end user industries such as packaging, construction, furniture, automotive, assembly operations, etc. Polyurethane adhesives accounted for the largest market share in the country’s adhesives market, with these adhesives being mainly used in automobile and construction sectors. High thermoplastic and adhesion property, especially with metal substrates; good electrical insulation; high elasticity; strong resistance against chemicals and moisture make polyurethane adhesives extremely suitable for use in heavy industries.
Increase in disposable income levels, rising GDP and booming retail markets are propelling growth in packaging and flexible packaging industry and this is forecast to drive demand for adhesives in India through 2020. Rapid urbanization coupled with growing infrastructure and real estate construction projects is projected to further fuel demand for adhesives in India. An increasing number of global as well as domestic adhesive companies are establishing new adhesive manufacturing plants to address the growing demand for adhesives from various end user industries. West India dominates India adhesives market due to large concentration of automobile, furniture and textile manufacturing industries in the region. Pidilite dominates the country’s adhesives market, followed by Henkel and Sika India. Few of the other major players operating in the market include Atul, 3M, Huntsman, HB Fuller, Bostik, Huntsman India, etc.
“Due to rising health and environment concerns associated with solvent based adhesives, Indian market is witnessing growing adoption of green solvent-less adhesives. Water based adhesives are being increasingly used across various end user segments, as they are free from harmful volatile organic compound emissions and offer high tensile strength. Rising awareness regarding benefits of shifting to green adhesive solutions is propelling demand for bio-adhesives, with bio-adhesives finding widespread applications in construction of green buildings, and in manufacturing plywood, fiberboards and interior wooden furniture,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.