Published on July 14, 2014

At present adhesive market is growing with a balanced velocity. Market players are expecting that introduction of budget 2014-15 will bring innovative changes and rapid growth for this industry in near future.

According to industry people, higher cost of raw material is hampering the growth of adhesives industry. Industry need to come out with certain innovative ideas and develop such novel products which will boost this industry. Industry analysts believe that Bio-based adhesives and sealants are expected to catch up in the near future owing to their eco friendly characteristics. They added that volatile raw material prices of crude oil are expected to hinder the adhesives market growth in near term.

Growing demand from electronics and automotive applications is expected to fuel the demand for adhesives. Increasing demand from labeling and packaging applications attributed to improved inventory management and low cost flexible packaging materials are expected to further fuel the demand for adhesives.

Strong industrial growth in the Asia-Pacific region is expected to boost the demand for hot melt adhesives and will have an impact on the growth of this market. Presently the ever-increasing need for high standard performance due to technological advancement is a major driver for growth of the adhesives market.