Published on May 19, 2014
This industry is facing momentary slowdown due to circumstantial situation, but on a year on year basis the Adhesive industry continues to register a near double digit growth. Further it has added to the growth in consumerism and is expected to give fillip to the already growing organized retail. This may witness expansion of the retail sector if FDI in multi-brand retail. All this will definitely drive growth in demand for Adhesives.
A recent research report said that global Adhesive industry is likely to achieve a turnover of almost USD50 billion for the global adhesives market in 2019. It said that the global demand of Adhesive will climb by on average, 2.9% p.a. during the next eight years. And demand for adhesives in the construction industry is expected to rise by 3.4% p.a. to become the worldwide largest field of application for adhesives in 2019.
Industry sources said that the slowdown in the manufacturing sector is expected to end and the economy is slated to lookup once a new stable government takes charge at the centre. According to traders in this industry in near future the Adhesive industry will reveal definite growth both in capacity and investments.
Adhesives are finding applications in ever growing medical industry and packaging industry. This in turn is increasing the demand for the chemical which is used in manufacturing of adhesives. Increasing capabilities of pressure sensitive adhesives in tapes and labels, will witness a strong growth in the future growing at a CAGR of 5.8% till 2018.
According to market players, at present demand for adhesive is mounting in the construction industry and in the new term construction industry will grow with the rapid pace which will enhance the demand for Adhesives globally. They said all over demand from the globe is good and likely to show upper movement in near future. Current week shows moderate movement in this industry as told by the industry sources from various places in India.