Published on November 9, 2013
Indian economy has been going through turbulent phase. This phase has affected all the industries. All the major fields whether it is construction, automotive, consumer durables, or service sector, all are severely affected due to this slowdown. There are many other industries which are associated to these gigantic sectors. Adhesives are one of such industry. Most common industries where adhesives and sealants consumption is uppermost include construction, consumer durables, footwear, assembly, automotive, packaging, labeling and transportation.
The first half of the year was very difficult expressly due to depreciation of Indian currency. Still the adhesive industry has witnessed a moderate growth due to increased application in furniture, footwear, pressure sensitive accessories and many more. Advanced technology and growth has compelled the industry to come up with new products. Thus, these industries are looking forward for bio-based adhesives and sealants in order to curtail their dependence on synthetic adhesives. The year over year changing rules and regulations on volatile organic compounds has compelled the industry to divert itself for environment friendly products. To add further, increasing prices of petroleum polymers are making it infeasible for many associated projects. Thus industry is looking for more alternatives. Another new variety is hot melt adhesives. It has increasingly become popular due to its unique properties. Its characteristics include fast settings, low cost and low impact to environment has increased its demand. Major events like Olympics had pushed the country Brazil to go vigorous with consumption of Adhesives and coolants. Various pressure resistant equipments need heavy usage of Adhesives and sealants. This in turn boosts the usage of such products and thus the growth becomes quite exponential.
Recent development in this industry was inauguration of innovation centre in Pune, Maharashtra by Henkel group of industries. Henkel is one of the largest companies involved in manufacturing of adhesives and sealants. The company official said that this investment will grow their sales by 20 billion Euros. This in turn will stimulate the growth of adhesives in India. When we study application based usage of adhesives then construction industry is the largest consumer for adhesives and sealants. Asian market accounts for around 40% consumption of adhesives with China and India the leading markets. Europe gains the second position. The other major growing economies like Brazil, Peru, Chile and Argentina are gaining popularity and are taking more interest in this industry.
