The Indian adhesives and sealants market is projected to reach USD 1,703.68 million, growing at an estimated CAGR of 8.07% over the forecast period Major factors driving the market studied are increasing demand from the packaging industry and the growing construction industry in the country.
– On the flip side, the slowdown of the automotive industry and the detrimental impact of COVID-19 are hindering the growth of the market studied.
– Increasing electronic operations in India and increasing demand for bio-based adhesives are expected to offer various opportunities for the growth of the market studied over the forecast period.
Click Here to Download Sample Report >> https://www.sdki.us/sample-request-112474
Key Market Trends
Increasing Usage of Acrylic Water Borne Adhesives
Water-borne acrylic adhesives are considered an environmentally friendly and economically feasible substitute to solvent-based adhesives. The major advantage of water-borne adhesives is the absence of volatile organic compounds. The properties of acrylics include durability, color retention, quick-drying, environmentally friendly, impact-resistant, etc. Acrylics are majorly used on exterior and interior surfaces, such as on frames, doors, wall surfaces, trim, etc.
Acrylics can be applied to areas, such as primed metals, direct-to-metal applications, wood, and masonry surfaces. Acrylics are also used directly to metal for many colors and gloss levels. The application of acrylics includes bonding wood, paper, wall panel bonding, sealing (grouts), textiles bonding, paper stamps, leather tile envelopes, labels, etc. Acrylics are used by various end-user industries, such as buildings and construction, woodworking and joinery, paper, board, packaging, etc. Furthermore, acrylics are majorly used by paper, board, and packaging industries. Packaging industry dominates the demand for acrylic adhesives with numerous applications in products, such as tapes, labels, cases, and cartons.
Electrcal and Electronics Segment to Drive the Market Growth
Due to their excellent characteristics and physical properties, such as good cohesion, adhesion, elasticity, high-cohesive strength, flexibility, and their role in improving peel strength by flexing with peel stress, the high elastic modulus of the substrate, resistance to thermal expansion, and environmental resistance from UV light, corrosion, saltwater, rain, and other weathering conditions, adhesive and sealants are extensively used in the electronic industry. Sealants are an integral part of electronic parts and are used to manufacture and assemble various electronic items. There is a steady rise in the demand for electronic sealants, primarily due to the growth and advancement of electronic goods and the high penetration of smartphone devices.
In the electronics industry, adhesives are used for various applications, such as conformal coatings, bonding of exterior plastic housings, bonding of surface mount devices (SMDs), bonding of heat sinks and potting, encapsulating electronic components, protecting terminal electrodes, sealing lids, and housing groves, conformal coating of circuit boards, and many other electronic gadgets. In the process of electrical and mechanical assembly, silicone sealants are highly flexible. They can be used as form-in-place gaskets to connect components inside electronic modules, close holes in the panel to exclude soil, water, or other contamination, and protect against exposure to harsh environmental conditions, such as high temperatures.
Request For The Sample Report Here: https://www.sdki.us/sample-request-112474
The electronics industry in India is one of the fastest and major end-user industries, contributing to the Indian economy. Many products, such as consumer electronics, communication equipment, and other equipment for military operations, contribute a major share of the electronics market. Several global producers of consumer electronic products are shifting or starting their manufacturing bases in India, due to the availability of cheap labor costs and easy access to raw material. This scenario has been observed for the past few years, and the trend is likely to increase at a faster rate, primarily due to the Make in India initiative launched by the Indian government. This has a direct impact on assembling different electronic components to produce a complete product before entering the market. Thus, this is estimated to propel the demand for adhesives and sealants in the electronics sector for various assembling applications. Despite the decrease in production in the electronics industry due to the COVID-19 pandemic, the electronics industry is likely to grow in the future, due to the growth in the electronics sector by increased consumer spending in the country.
Competitive Landscape
India adhesives and sealants market is highly concentrated in terms of revenue. The top five players account for a combined share of more than 90%, thus making the market highly competitive. Pidilite Industries Limited is the market leader in the India Adhesives and sealants industry with a share of almost 48%, thus continuing its dominant position for the past few years. Other major companies include Henkel Adhesives Technologies India Private Limited, Sika AG, Arkema Group, and H.B. Fuller Company, amongst others.
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand from Packaging Industry
4.1.2 Growing Construction Industry In the Country
4.2 Restraints
4.2.1 Slowdown of the Automotive Industry
4.2.2 Detrimental Impact of COVID-19
4.3 Industry Value-Chain Analysis
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
Request For Full Report >> India Adhesives and Sealants Market
About SDKI:
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count ( SDKI ) provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
For more information, please contact:
Lauren Brown
Shibuya Data Count
Email: sales@sdki.jp
Tel: + 81 3 45720790