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India Tile Adhesive Market Overview
The India tile adhesive market size was valued at USD 0.1 billion in 2021. The tile adhesive industry is projected to grow from USD 0.11 Billion in 2022 to USD 0.22 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.09% during the forecast period (2022 – 2030).
Tile adhesive has several advantageous properties which include flexibility, high bond strength, shock & impact, and chemical resistance. Commonly, tile adhesive is used in all manners of construction activities across the residential, and commercial sectors. The India tile adhesive market is expected to witness above-average growth primarily due to the presence of the booming construction industry. India is an emerging economy with growing disposable income and rising economic progress which has resulted in the expansion of urban areas. The expansion of the Indian urban area as well as government initiatives to convert to smart cities has resulted in large-scale construction activities in the residential and commercial sector. Moreover, the growth of personal disposable income among consumers in India is expected to lead to high demand for home renovation. The demand for aesthetically pleasing tiles and decorative tiles is also expected to influence demand positively. Additionally, tile adhesives have applications in laying flooring in any buildings, wall coverings, countertops, and several others.
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The challenges in the India tile adhesive market include a low awareness regarding types of tile adhesives as customers are not always involved with the process and often leave the choice of tile adhesive to the contractor. Another restraint the market has is the low-profit-margin associated with tile adhesive production. Notably, the market has several opportunities it can leverage in the coming years. The development of innovative low VOC adhesive is expected to drive the market toward new opportunities.
Market Segmentation
The India tile adhesive market has been segmented on the basis of type, construction activity, application, and region. Types of tile adhesive have been segmented into epoxy tile adhesive, dispersion tile adhesive, and cementitious tile adhesive. Cementitious tile adhesives are most popularly used in India for wall tiles and ceramic flooring. The increased demand for ceramic tiling is expected to play a role in the segment’s growth which is expected to occur at a CAGR of 9.21%. The epoxy tile adhesive market follows in terms of market size and has a market share of 21.65% of the Indian market.
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Construction activity has been segmented into repair & renovation, and new construction.
Applications of tile adhesives can be found in residential, commercial, and institutional. The residential segment leads among all segments and is expected to retain its market position during the forecast period.
Regions covered in the India tile adhesive market include West India, South India, East India, and North India.
Regional Analysis
Across the country, all regions covered in the report are witnessing a high demand for new tiling for repair and renovation purposes. Additionally, the high demand for new housing complexes in rapidly expanding urban areas in all regions of India is expected to yield market growth. North India, in particular, is a significant regional market due to the high demand for high-quality tiling products and the presence of several market players state-of-the-art showrooms.
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Key Players
Pidilite Industries Ltd., – India
MYK LATICRETE INDIA PVT LTD., – India
Saint-Gobain Weber, – Germany
Fosroc India, – India
BASF India Ltd., – India
Huntsman Corporation, – the USA
Kajaria Ceramics Limited. – India
Bostik, – the USA
Fuller Company, – the USA
SIKA INDIA, ARDEX Group, – India
Henkel AG & Co. KGaA – Germany
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