India Tile Adhesive Market Trends Opportunities, Up-to-date Development Data and Global Research Ins
Author : ankita Belsare | Published On : 29 Apr 2021
Market Research Future will be publishing a Cooked Research Report on “India Tile Adhesive Market” that contains the information from 2016 to 2023.India Tile Adhesive Market is expected to grow with the CAGR 9.09% during forecast period of 2017 to 2023.
Market Research Future (MRFR) recognizes the following companies as the key players in the INDIA Tile Adhesive Market that includes 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, among others.
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Tile Adhesive is a substance that enable the joining of two substrates using adhesion mechanisms (developed between the adhesive and substrate) and cohesive mechanism (developed within the adhesive itself). They have ultimate flexibility, high bond strength, shock & impact and chemical resistance. Tile Adhesives are used to install tiles in residential, commercial and institutional buildings on floors or on walls. The India Tile Adhesive Market is estimated to reach USD 136.76 million by the end of 2023 by growing at a CAGR of 9.08% during 2017-2023. The cementitious Tile Adhesive accounts for the largest share, among the three major types of tile adhesives, owing its comparative low price. Among residential, commercial, and institutional applications of tile adhesives in the India, residential segment is the dominating the market.
India Tile Adhesive Market is segmented on the basis of type, construction activity, application and region. On the basis of type the market is divided into cementitious tile adhesive, epoxy tile adhesive, and dispersion Tile Adhesive. Cementitious tile adhesive is holding the largest share of the market, in terms of overall demand of tile adhesive in India. The major applications of cementitious adhesive in India is as a wall Tile Adhesive and ceramic floor adhesives. Both water resistant cements and polymer modified cements are suitable for internal and external uses, which is favouring the demand of cementitious Tile Adhesive in this market. The cementitious tile adhesive is estimated to grow at highest CAGR of 9.21% to reach throughout the forecast period. Epoxy Tile Adhesive is another important type of tile adhesive in this market. Its application can be found in projects where it is specified in contracts. It exhibit better adhesion of tile with an increased pigment/binder ratio and to help achieve an increased bonding period. Dispersion adhesives account for nearly 25% share of the overall demand of Tile Adhesive in this market. Dispersion tile adhesive holds least share of demand among the three Tile Adhesive in the India tile adhesive market.
Based on construction activity India Tile Adhesive Market is categorized into new construction and repair & renovation. Among them, new construction segment is holding more than 80% share of the market on account of rising aspirations of large middle income group, changing demographics in India and Government of India's commitment to increase expenditure on infrastructural activities to 10% of GDP in the 12th Five-Year Plan.
Lastly, on the basis of application, India Tile Adhesive Market is segmented into residential, commercial, and institutional, wherein the residential segment is projected to dominate the market over the forecast period. The segment is estimated to reach USD 101.16 Million by value, due to the rapid urbanization and flourishing housing construction activities as the number of ambitious programs launched by the government of India.
The Tile Adhesive Market for India is expected to reach USD 136.76 Million till, expanding at CAGR of 9.09 % from 2017-2023. The growth market is attributed to boom in construction activities, growing consumption of ceramic tiles and increasing commercial as well as residential construction activities. Moreover, due to rising disposable income and standards of living of the people in this region there is a growing demand of decorative and aesthetically pleasing tiles in both residential as well as commercial buildings, with uses including flooring, wall coverings, countertops, and among other applications.
In addition to this, the major player are earmarking significant chunk of their revenue for R&D in tile adhesives. They are inventing new range of products that provides better adhesion and prolonged bonding ability and expanding their manufacturing capacity in order to cater increasing demand of the product. Major players in this market are, Pidilite Industries Ltd., Henkel, Huntsman, Fosroc, Bostik, MYK Laticrete India Pvt Ltd., Mapei Construction Products India Pvt Ltd., Ardex Endura, and Sika India Private Ltd, among others.
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