ID: MRFR/CnM/3234-CR | October 2017 | Region: Global | 93 pages
India Tile Adhesive Market Overview:
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.
Many constructions and remodeling/renovation companies choose to use tile adhesives because they do a great job of holding multiple surfaces and objects together. They are also strong and extremely flexible. They are not easily damaged by large shocks or chemical reactions.
COVID-19 is a dangerous virus. It has created a global pandemic that has affected the world in many ways. COVID-19 has also changed the destiny of the world and has sent it hurtling towards the digital age and era with remote working, contactless delivery, and other mechanisms that were designed to stop the spread of the virus as much as possible.
The India tile adhesive industry was no exception. Manufacturers were forced to dramatically scale back production because the COVID-19 virus struck India hard. The Indian government also imposed a lockdown that halted most construction activities in the nation. Thus the demand for adhesives, in general, declined dramatically.
The tile adhesives industry is extremely competitive and fragmented in that it contains many companies of all sizes. The industry, in general, is lucrative, has a high CAGR, and has very few barriers to entry. The fact that new companies are entering the industry every year is forcing companies to invest heavily in research and development. They attempt to create a sustainable competitive advantage by developing and marketing superior products at slightly lower price points by doing so.
Companies are also merging with/acquiring other successful companies in the industry. They are also entering into strategic partnerships with other successful companies in the hopes to create a sustainable competitive advantage. They will need this to solidify their positions in existing markets and enter new markets.
B Fuller Corporation is a major American player in the global India tile adhesives industry. It has become an industry leader by investing heavily in research and development. This has allowed it to create a sustainable competitive advantage by developing and marketing superior products at a slightly lower price point.
COVID-19 is not as much of an issue now. There are two main reasons for this. The first is that people want to resume life before the pandemic. The second (and most important) is because major pharmaceutical companies have developed a vaccine that they are delivering on a large-scale basis. These two phenomena have seen a dramatic increase in construction activities around the world.
What is also another driver in the India tile adhesives industry is the fact that governments around the world (especially India’s) are investing in infrastructure and other development projects at record speed. The fact that developed and developing nations are rapidly urbanizing, industrializing, and modernizing is only contributing to this phenomenon.
All of this is driving immense growth in the India tile adhesives industry.
Companies in the India tile adhesives industry are investing heavily in research and development. This is leading to amazing innovations in ceramic tile adhesives in the form of low VOC adhesive technology. More and more construction and remodeling/renovation companies are preferring to use these polymer enriched ceramic tile adhesives because they are stronger, more durable, more flexible, and have a wider variety of applications and uses.
What’s holding back growth in the India tile adhesives industry is the fact that a large segment of the population in developing nations still knows nothing about the benefits and many applications for ceramic tile adhesives. In fact, they are still constructing residential (and even commercial) buildings the same way that their ancestors have been doing for thousands of years.
Also, people may have more household expenses. This decreases the amount of discretionary income that they can spend on items like ceramic tile adhesives. Also, companies that supply ceramic tile adhesives are seeing their profits dwindle rapidly.
One of the greatest challenges of the Indian tile adhesives industry lies in the fact that construction and remodeling/renovation companies around the world can easily use inexpensive substitutes in buildings – both commercial and residential. These substitutes include wallpaper and carpets. The companies in the India tile adhesives industry are going to have to find ways to come up with innovative products that are superior in nature and can compete in terms of price.
Huntsman Corporation is a major American player in the India tile adhesives industry. It has managed to become one of the industry leaders by investing heavily in research and development. This has allowed it to make and market superior products at lower price points. Thus, it has been able to develop a sustainable competitive advantage by doing this.
The Indian tile adhesives industry can be grouped into the following sub-segments based on type:
Cementitious tile adhesives have the largest India tile adhesives market share. One key reason for this is the fact that more and more people are becoming aware of these adhesives and their many innovative uses.
Polymer modified cement and water-resistant cement can be used in the interior and exterior of various commercial and residential buildings around the world. This is why this sub-segment is currently registering a CAGR of 9.21%. This is expected to continue for the time period that this report covers.
Epoxy tile adhesives stick to surfaces better. They also do a much better job of joining the surfaces of two or more objects together. That’s why this sub-segment has a high CAGR.
Another sub-segment that has a high CAGR is dispersion adhesives. It can grab as much as a quarter of the overall market segment and can be a major driver behind its overall higher CAGR.
The construction segment uses up 80% of all India tile adhesives that are manufactured and sold. There are a few reasons for this. The first is that there is a large middle class that is growing in most developing nations around the world. They want to have attractive tiles put in on the floors of their buildings - this is driving the demand for India tile adhesives. Demographic change and the Indian government’s resolve to build more superior quality infrastructure is also driving growth in demand and hence the CAGR for the India tile adhesives industry.
The residential sector is the main sub-segment in this segment. The middle classes in developing nations are growing. This is creating a surge in demand for residential housing units. This sub-segment is expected to drive the overall CAGR for the India tile adhesives industry and is expected to generate an overall market value (for the sub-segment) of 101.16 million by 2023.
The Indian government has also launched a number of programs that are designed to ensure that everyone in India has access to proper housing in the next few years. This is also expected to be a growth driver for this sub-segment.
The Indian tile adhesives industry can be grouped into five regions:
The Asia-Pacific region currently has the greatest regional market share. There are a few reasons for this. A main reason though is because there is a huge demand for residential (and commercial) units. This is especially true in India, China, Indonesia, and Vietnam.
The developed Western world is also seeing a surge in demand for Indian tile adhesives. In fact, The European Union and the North American regions have the second and third largest market shares respectively.
The nations in the Asia-Pacific region are aggressively investing in infrastructure. This is also driving demand for India tile adhesives. The Middle East and North Africa and Latin American regions are also seeing an increase in demand for India tile adhesives. This can be attributed to an increase in building projects in general, a growing middle class, and higher economic growth.
The tile adhesives industry is projected to register a CAGR of 9.09% for the next two years. It’s expected to have a market value of USD 136.76 million by 2023. The Asia-Pacific region leads in terms of market share largely because of a growing middle class that wants more residential units. The Indian government is also embarking on an ambitious infrastructure development program.
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application and Construction Activity|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Pidilite IndIndiatries Ltd., MYK LATICRETE INDIA PVT LTD., Saint-Gobain Weber, Fosroc India, BASF India Ltd., Huntsman Corporation, Kajaria Ceramics Limited, Bostik, H.B. Fuller Company, SIKA INDIA, ADREX Group, and Henkel AG & Co. KGaA|
|Key Market Opportunities||Innovations in VOC Adhesive to Create Major Growth Opportunities|
|Key Market Drivers||Surge in Ceramic Consumption to Favor Market|
Frequently Asked Questions (FAQ) :
India Tile Adhesive Market is predicted to grow at 9.09% through forecast period of 2020-2027.
The forecast period for India Tile Adhesive Market research report is 2020-2027.
The dramatic increase in the usage of ceramic tiles
Pidilite Industries Ltd., MYK LATICRETE INDIA PVT LTD., Saint-Gobain Weber, Fosroc India, BASF India Ltd., Huntsman Corporation, Kajaria Ceramics Limited, Bostik, H.B. Fuller Company, SIKA INDIA, ARDEX Group, and Henkel AG & Co. KGaA Key Market Opportunities Innovations in VOC Adhesi