India Tile Adhesive Market Overview –
Market Research Future (MRFR) studied the India Tile Adhesive Market 2020 through the review period till 2030. As per MRFR evaluation, the India tile adhesive market can expand at a 9.09?GR. By 2030, the India tiles adhesive market can earn revenue of about USD 136.76 Mn.
The rise in number of residential construction activities and increase investment on infrastructure solutions by the Government of India can support expansion of the India tile adhesive market. The surge in urban migration and increase in residential settlement are likely to boost sales of ceramics that can contribute to the market upsurge. The upscaling demand for VOC adhesive can create growth opportunities for investors as technologies deployed in the production are affordable. The increase in polymer modified cementitious tile adhesive applications can also generate decent revenue for market. However, less awareness about modern tile adhesive solutions and decline in sales of such products, especially amidst COVID 19 pandemic, can hinder the India tile adhesive market rise. On the other hand, the large rural base in India is observed to increase their expenses on home, which can favor the market in the near future.
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India Tile Adhesive Market – Prominent Players:-
Manufacturers are investing in R&D to improve their product line can aid them in gaining a competitive edge. 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. These key players controlled more than 60% of the market in 2019 and are expected to maintain their dominance during the forecast period. To expand their geographic reach and business activities, these main players are using a variety of organic and inorganic growth strategies such as mergers and acquisitions, joint ventures, partnerships, extension, new product releases, and patents. The increase in the number of tile adhesive suppliers can change the competitive landscape in India’s tile adhesive market. The reports go into detail about existing companies’ business expansion by innovation, as well as the growth of new players and their contributions to the tile adhesive market in India.
The expansion of the India tile adhesive market could be aided by an increase in residential construction activities and a growing demand for effective infrastructural solutions by governments in various regions. Ceramics revenues are being stifled by the rapid increase in urban migration and subsequent rise in residential settlement. Furthermore, in the case of commercial constructions, an increase in ceramics use is possible. During the analysis period, these are expected to benefit the India tile adhesive industry. The introduction of low VOC adhesive technology developments can benefit the market. Polymer modified cementitious tile adhesive is becoming more common, which could result in high revenue hotspots for the business.
Lack of awareness of effective tile adhesive solutions, as well as lower sales of such products among the large rural population, can stymie market growth. Other factors that may contribute to the demand slowdown include an increase in household expenses and a decrease in profit margins for tile adhesive raw material suppliers.
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Market Segmentation
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. Because of the high demand for the product, the cementitious tile adhesive segment may have the largest market share. The market can benefit from increased knowledge of cementitious adhesive. The increasing use of polymer modified cements and water-resistant cements for internal and external applications is expected to propel the cementitious tile adhesive segment to a 9.21?GR by the end of the forecast period. The market is expected to grow due to the increased use of epoxy tile adhesives, which have better adhesion consistency (high pigment/binder ratio) and can help achieve longer bonding times. The dispersion adhesives segment has the potential to gain around 25% of the overall market, contributing to the market’s growth.
The India Tile Adhesive Market is divided into two categories based on construction activity: new construction and repair and renovation. The new construction segment will account for roughly 80% of the total market value. This can be attributed to factors such as a growing preference for broad middle-income groups, changes in India’s demographics, and the government’s commitment in the 12th Five-Year Plan to improve infrastructural activities.
Finally, the India Tile Adhesive Market is divided into three categories: residential, industrial, and institutional. During the study era, the residential segment has a good chance of gaining traction. In 2023, the segment is expected to earn about USD 101.16 million. Rapid urbanization and a boom in housing development, as a result of the Indian government’s implementation of a range of ambitious programs, will support this market segment.
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Regional Analysis
The market’s expansion can be attributed to an improvement in infrastructure activities, which has resulted in an increase in the use of ceramic tiles for both commercial and residential construction applications. The market will expand due to the presence of a large population of people with high disposable income who prefer decorative and aesthetic tiles. The increasing use of tile adhesive in corporate infrastructure for wall coverings, flooring, and countertops, among other things, is expected to boost the demand in the near future. The presence of a few top-tier tile adhesive producers in India’s western and northern regions will help the market earn a lot of money. These companies have been observed to increase their earnings through developments and the establishment of new branches, all of which can benefit the India tile adhesive industry.
Industry News
The India Tile Adhesive Market in Asia-Pacific accounted for the largest share of over 50%in 2020and is projected to remain the fastest-growing regional market during the forecast period. This can be attributed primarily to the high demand for the product in the expanding residential and commercial construction sector and the solid automotive manufacturing industry in China, India, and Southeast Asian countries.
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1 Report Prologue
2 Scope Of The Report
2.1 Market Definition 11
2.2 Scope Of The Study 11
2.2.1 Research Objectives 11
2.2.2 Assumptions 12
2.2.3 Limitations 12
2.3 Market Structure 12
3 Research Methodology
3.1 Research Process 13
3.2 Primary Research 14
3.3 Secondary Research 14
3.4 Market Size Estimation 14
3.5 Forecast Model 16
4 Market Dynamics
4.1 Introduction 17
4.2 Drivers 18
4.2.1 Boom In Residential Construction Activity (Impact Weightage 33%) 18
4.2.2 Growing Consumption Of Ceramic Tiles (Impact Weightage 47%) 19
4.2.3 Increasing Commercial Construction Activity (Impact Weightage 20%) 20
4.3 Restraints 21
4.3.1 Low Profit Margin 21
4.3.2 Low Awareness Regarding Tile Adhesives 21
4.4 Opportunity 21
4.4.1 Innovative Low VOC Adhesive 21
4.5 Mega Trends 21
4.5.1 Use Of Polymer Modified Cementicious Tile Adhesive 21
4.6 Macroeconomic Indicators 22
4.6.1 Rise In Disposable Income Coupled With Increased Spending On Housing 22
5 Market Factor Analysis
5.1 Supply Chain Analysis 23
5.1.1 Raw Material Suppliers 23
5.1.2 Tile Adhesive Producers 24
5.1.3 Distribution Channel 24
5.1.4 End-User Industry 24
5.2 Porter’s Five Force Analysis 25
5.2.1 Threat Of New Entrants 25
5.2.2 Threat Of Rivalry 25
5.2.3 Threat Of Substitute 26
5.2.4 Bargaining Power Of Supplier 26
5.2.5 Bargaining Power Of Buyer 26
6 India Tile Adhesive Market, By Type
6.1 Introduction 27
6.2 Cementicious Tile Adhesive 29
6.3 Epoxy Tile Adhesive 31
6.4 Dispersion Tile Adhesive 32
7 India Tile Adhesive Market, By Construction Activity
7.1 Introduction 34
7.2 New Construction 36
7.3 Repair & Renovation 37
8 India Tile Adhesive Market, By Application
8.1 Introduction 39
8.2 Residential 41
8.3 Commercial 43
8.4 Institutional 44
9 India Tile Adhesive Market, By Region
9.1 Introduction 46
9.2 West India 51
9.3 South India 54
9.4 North India 57
9.5 East India 60
10 Competitive Landscape
10.1 Introduction 64
10.2 Key Developments Of Major Market Players 65
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