Published on December 16, 2017
Indian adhesive market is anticipated nurture at a CAGR of 6%. Demand for adhesive industry is growing on technological advancements and infrastructure growth.
Packaging marker is the largest consumer for adhesive and the application in building, construction and automotive. In near term outlook water based adhesive will continue to dominate market and will have the maximum growth rate till 20120, said by market source.
The global market for adhesives and sealants is less capital intensive and is highly fragmented and competitive due to the presence of numerous multinational and regional players.
With the increasing use of adhesive in different industry, demand for used chemicals is also escalating.As per market players.
The growth in the industrial segment for adhesives is expected to be significantly higher than the consumer segment since industrial uses of adhesives will expand in the coming years.
Market analyst said that, the market for adhesives in India is changing with fast rate on note. Product innovations across different segments along with higher competition have been appreciably changing the market. Furthermore, the Indian government is planning to invest in infrastructure development towards the construction industry in the country will provide vigorous growth opportunities for the industry.