India has a sizeable adhesives and sealants market with about USD 1.8 billion annual revenue. The market has rebounded after a decline due to the supply chain restriction caused by the CoVID-19 pandemic. The industry is broadly divided into industrial and consumer use adhesive segments. The industrial adhesives and sealants segment focuses on automotive, paints, packaging, etc., and contributes roughly 58-60% of the total revenue.
The adhesive and sealant market has shown a positive growth of near 8% CAGR for 2015-2020. The industrial segment is expected to clock a 7.4% CAGR between fiscals 2020-2026.
This growth is mainly driven by the increasing demand from the packaging industry. Adhesives and sealants are crucial parts of container packaging specialty and food packaging products. The growing interior housing and furniture industry boost consumer demand for adhesives. At the same time, the footwear segment is being driven by both domestic and export orders. The government regulations to reduce volatile organic compounds have also increased the demand for water-borne acrylic adhesives. These offer a cheaper and environmentally friendly alternative to the traditional solvent-based adhesives.
India's adhesives and sealants industry is being driven by innovation and has great potential in production capacity, technological infrastructure, and skilled workforce. Competent domestic manufacturers compound these advantages with a strong domestic and export track record. The Government of India is also working to extend the PLI (Production Linked Incentives) scheme for the chemical industry, further strengthening the industry’s supply and manufacturing capabilities.
Some of the top manufacturers in India are- Anabond, Arkema, Ashland, Atul Ltd, Avery Dennison Corporation, H.B. Fuller, Henkel AG & Co. KGaA, Huntsman Corporation, Jowat SE, Jubilant Industries Ltd, Metlok Private Limited, Paramelt, Pidilite Industries Ltd, Sika AG, Welbound
2-Acrylamido 2-Methyl Propane Sulphonic Acid (ATBS)
2-AcetoAcetoxyEthyl Methacrylate Ester (AAEMA)