According to TechSci Research, the India adhesives market is forecast to exceed $1.3 billion by 2025. Find out three leading causes for its growth and why this is a market to watch.
Growth Factor #1: Rapid Industrialization
In the past several years, India has been undergoing rapid industrialization. Given recent governmental initiatives, rising emphasis is being placed on process equipment especially across industries such as:
- Oil and gas
As demand for equipment goes up, so, too, does the need for smooth operational processes and automated assembly lines that require adhesive use.
Growth Factor #2: Rising Awareness
Another growth factor includes rising adhesive awareness in the region. Technological developments have led to the formulation of advanced adhesives that offer:
- Excellent bond strength
- Strength and flexibility
- Performance under wide temperature range
As India’s awareness for different types of adhesives and how they can benefit various end-use industries rises, adhesive demand for their applications does as well.
Growth Factor #3: Increased Application Demand
As the per capital income rises alongside population levels, certain industries are seeing increased demand, including:
- Food and beverage
Given that adhesives play a role in food and beverage packaging and aid in home and building construction, growth within these industries also mean growth for adhesives.
For more information on adhesive growth in India, view this report. Stay tuned for more detail on adhesives in India. To be in the know on the adhesive industry and what’s happening in various industrial markets, check out www.bostik-industrial.com.