ID: MRFR/CnM/3234-CR | October 2017 | Region: Global | 93 pages
Market Research Future (MRFR) assessed the India Tile Adhesive Market 2020 through the review period till 2023. As per MRFR evaluation, the India tile adhesive market can expand at a 9.09% CAGR. By 2023, the India tiles adhesive market can earn revenue of about USD 136.76 Mn. Tile adhesives are non-metallic substances that use cohesive and adhesive mechanisms to join two substrates. They have ultimate flexibility, high bond strength, shock & impact and chemical resistance. They are used to install tiles in commercial, residential, and institutional buildings on walls or floors.
The impact assessment of the India tiles market for COVID-19 is supplemented with the report. The report offers insights on understating the spread of the pandemic among workers that can help construction project managers to provide adequate conditions and facilities for employees to deliver optimum perform by minimizing possibilities of getting infected with SARS-COV-2, as lockdown relaxes. Investors are adopting effective strategies to mitigate issues arising in supply chain and manufacturing amidst the pandemic. Other crucial information on the progress of the India tile adhesive is elaborated in the report.
Surge in Ceramic Consumption to Favor Market
Increase in residential construction activities and rising demand for effective infrastructural solutions by government of different regions can support the expansion of the India tile adhesive market. The rapid increase in urban migration and subsequent rise of residential settlement is booting sales of ceramics. In addition, increase in the consumption of ceramics is also likely in case of commercial constructions. These are expected to favor the India tile adhesive market in the review period.
Innovations in VOC Adhesive to Create Major Growth Opportunities
The launch of innovations in low VOC adhesive technology can favor the market. The growing preference and application of polymer modified cementitious tile adhesive can also generate high revenue yielding hotspots for the market.
Lower Profit Margin of Supplier to Hinder Market Growth
The lack of cognizance about effective tile adhesive solutions and less sales of such products among the large rural population can hinder the market upsurge. Increase in household expenses and decline in profit margin of tile adhesive raw material suppliers are other causes that can add to the market slow-down.
The cementitious tile adhesive segment can hold the largest market share as the demand for the product can surge. The growing awareness about cementitious adhesive can favor the market. The growing application of polymer modified cements and water-resistant cements for internal and external uses can cause the cementitious tile adhesive segment to surge at 9.21% CAGR by end of the forecast tenure. The increase in application of epoxy tile adhesives due to their better adhesion quality (high pigment/binder ratio) that can aid to achieve high bonding period can support the market surge. The dispersion adhesives segment can acquire about 25% share of the overall market can add to the market rise.
By Construction Activity
The new construction segment can secure about 80% share value of the overall market. This can be attributed to factors, such as; rising preference for large middle-income group, changes in the demographics in India, along with the commitment from Government of India to increase boost infrastructural activities in the 12th Five-Year Plan.
The residential segment can gain high traction in the study period. The segment can earn about USD 101.16 Mn 2023. Rapid urbanization and surge in housing construction, following the introduction of a number of ambitious programs by the government of India can benefit this market segment.
India Tile Adhesive Market to Benefit from Other APAC Regions
The expansion of the market can be attributed to increase in infrastructure activities and subsequent rise in the consumption of ceramic tiles for both commercial and residential construction application can benefit the market. The presence of a large population of people with high disposable income with preference for decorative and aesthetic tiles can support expansion of the market. The growing utility of tile adhesive in corporate infrastructure for wall coverings, flooring, and countertops among others can contribute to the market upsurge in the near future. The presence of certain top-notch producers of tile adhesive in the western and northern region of India can earn high profit for the market. These players are observed to boost their earnings through innovations and the establishment of different branches that can have positive impact on the India tile adhesive market.
The increase in number of suppliers of tile adhesive can alter the competitive landscape of the India tile adhesive market. The expansion of business of the existing companies through innovation, along with the rise of new players, and their contributions towards to the tile adhesive market in India are elaborated in the reports. Manufacturers are investing in R&D to improve their product line can aid them in gaining a competitive edge.
The India tile adhesive market analysis highlights top challenges and restrains on the market. The report also explains on dynamics of the growth opportunities of the market and its weakness. Threat and solution assessment of the market are also elaborated in the report. Technological developments and trends are assessed for the market under segment evaluation. The regional progress of the market for different regions is elaborated in this report.
By Construction Activity