India Tile Adhesive Market – Trends & Forecast, 2016-2023

Cementitious tile adhesive is expected to dominate during the forecast period and expected to grow at highest CAGR of 9.21% due to its low price as compared to epoxy adhesive and dispersion adhesive.

Reference: 180131
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General

Geography Covered
India
Publisher:
Market Research Future
Publication Date
1st November 2017
Pages
93
Language
  • English
Format
License

The Indian tile adhesive market is forecasted to reach USD 136.76 Million by the end of 2023 at a CAGR of 9.09%. Some of the protuberant drivers supporting the growth of the Indian tile adhesive market are identified as, boom in residential construction activity as well as the growing demand of ceramic tile in building & construction activity. As homeowners seek to replace old and worn floors with modern, aesthetically pleasing tile styles, the tile adhesive market experiences a continuous surge in India. Additionally, increasing demand of decorative tiles in non-residential construction activities such as malls, airports, office buildings, retail outlets, and other municipal and commercial buildings is another factor that drives the Indian tile adhesive market. Moreover, recent trends favoring the use of adhesives with rapid hardening property for floor and wall coverings by means of tile are expected to drive the Indian tile adhesive market. However, lack of awareness of tile adhesives among consumer and lower profit margins due to the usage of low-cost chemicals to reduce the overall construction cost may restrain the market in future.
Tile Adhesives are made using high quality material which enhances the durability of the adhesive and its bonding span is increased as well. Based on type, they are segmented as cementitious adhesive, epoxy adhesive and dispersion adhesive. Cementitious tile adhesives are largely used in India as a wall tile adhesives & ceramic floor tile adhesives. Water resistant cements and polymer modified cements are suitable for both internal and external use and as a result cementitious tile adhesive accounted for the largest value market share in 2016. Cementitious tile adhesive is expected to dominate during the forecast period and expected to grow at highest CAGR of 9.21% due to its low price as compared to epoxy adhesive and dispersion adhesive. The epoxy tile adhesive is the second major type of tile adhesive used in the India, which is holding a market share of 21.65%, as of 2016. The Indian tile adhesive market is segmented based on application as residential, commercial and institutional. Residential segment is estimated to dominate during the forecast period to reach a value of USD 101.16 Million by 2023 end. This can be attributed to the growing urbanization trend and flourishing housing construction activity as the number of ambitious programs launched by the union government.
India Tile Adhesive Market Share, by Type, 2016 (%)
India Tile Adhesive Market Share, by Type, 2016
Source: MRFR Analysis

Regional Analysis
Indian Tile Adhesive market is estimated to grow with healthy growth rate of the world market. Globally, India ranks at significant level in consumption of tile adhesive. Regionally, western India has been the dominant region contributing approx. 50% to the Gross Value Added (GVA) for the Tile Adhesive sector.
Several initiatives taken by the Government of India will support the growth of the chemical industry in India. One of such initiative is 'Make in India'. This initiative is expected to foster growth in the Indian tile adhesive market by allowing duty rationalization for skill development, feedstock, improving infrastructure and tax incentives for R&D investments. Approval of the GST bill is another key reform, which is expected to lower logistics cost by 10-15% and create a unified market across the country. The launch of Single Window Interface for Facilitating Trade (SWIFT) by the government would help importers or exporters to file a common integrated declaration, instead of 9 forms across 6 agencies.
The R&D investment and facility of Indian companies have been limited traditionally, but the situation is changing slowly with more and more companies looking at R&D as a key source of staying in the competitive environment of the tile adhesive market in India. The investment in R&D for Indian companies is expected to grow above 2% of the total revenue, thereby help to innovate them the product in the market. The industry is also observing increasing tie-ups with academia, which will facilitate the technology applied research further which is expected to boost the Indian tile adhesive market.
Segmentation
Tile adhesive market in India is segmented on the basis of type and end-user. Based on type, market is divided into cementitious tile adhesive, epoxy tile adhesive, and dispersion tile adhesive. On the basis of construction activity, the market is categorized in new construction and repair & renovation. Application wise, the India tile adhesive market is segmented into residential, commercial, and institutional.
Key Players
The prominent players in the India tile adhesive market are Pidilite Industries 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.
Key Findings
The India tile adhesive market is expected to grow at CAGR of 9.08% during review period of 2017-2023 to reach USD 136.76 million by 2023 end. Cementitious tile adhesive among the three major types of tile adhesives accounts for the largest share due to its low price as compared to dispersion adhesive and epoxy tile adhesive. Among residential, commercial, and institutional applications of tile adhesives in the India, residential segment is the dominating the market during the review period and is estimated to reach USD 101.16 Million till 2023.


The report covers brief analysis of geographical region includes
• India
o North India
o South India
o West India
o East India
Intended Audience
• Manufacturers and distributors of tile adhesives in Indian markets.
• Manufacturers and distributors of coatings.
• Manufacturers and distributors of paints.
• Suppliers and traders of building materials.
• Government, associations and industrial bodies.
• Investors and Trade experts.
• Consulting in chemical experts.
DC description
 Tile glue
 Wall tile adhesive
 Tile cement
 Waterproof tile adhesive
 Porcelain tile adhesive
 Cementitious tile adhesive
 Epoxy tile adhesive
 Acrylic tile adhesive
 Mortars
 Construction adhesives

Table of Contents

1 Report Prologue 10
2 Scope of The Report 11
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 13
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 17
4.1 Introduction 17
4.2 Drivers 18
4.2.1 Boom in residential construction activity (Impact Weightage XX%) 18
4.2.2 Growing consumption of ceramic tiles (Impact Weightage XX%) 19
4.2.3 Increasing commercial construction activity (Impact Weightage XX%) 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 23
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 27
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 34
7.1 Introduction 34
7.2 New Construction 36
7.3 Repair & Renovation 37
8 India Tile Adhesive Market, By Application 39
8.1 Introduction 39
8.2 Residential 41
8.3 Commercial 43
8.4 Institutional 44
9 India Tile Adhesive Market, By Region 46
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 64
10.1 Introduction 64
10.2 Key Developments of Major Market Players 65
11 Company Profile 68
11.1 Pidilite Industries Ltd 68
11.1.1 Company Overview 68
11.1.2 Business/ Product Segment 68
11.1.3 Financials 69
11.1.4 Key Developments 69
11.2 MYK LATICRETE INDIA PVT LTD 70
11.2.1 Company Overview 70
11.2.2 Product/Business Segment 70
11.2.3 Financials 71
11.2.4 Key Developments 71
11.3 Saint-Gobain Weber 72
11.3.1 Company Overview 72
11.3.2 Business/Product segment 72
11.3.3 Financials 72
11.3.4 Key Developments 73
11.4 Fosroc India 74
11.4.1 Company Overview 74
11.4.2 Business/Product Segment 74
11.4.3 Financials 75
11.4.4 Key Developments 75
11.5 BASF India Ltd. 76
11.5.1 Company Overview 76
11.5.2 Product/Business Segment 76
11.5.3 Financials 77
11.5.4 Key Developments 77
11.6 Huntsman Corporation. 78
11.6.1 Company Overview 78
11.6.2 Business/Product Segment 78
11.6.3 Financials 78
11.6.4 Key Developments 79
11.7 Kajaria Ceramics Limited 80
11.7.1 Company Overview 80
11.7.2 Business/Product Segment 80
11.7.3 Financials 80
11.7.4 Key Developments 81
11.8 Bostik 82
11.8.1 Company Overview 82
11.8.2 Business/ Product Segment 82
11.8.3 Financials 83
11.8.4 Key Developments 83
11.9 H.B. Fuller Company 84
11.9.1 Company Overview 84
11.9.2 Business/Product Segment 84
11.9.3 Financials 85
11.9.4 Key Developments 85
11.10 SIKA INDIA 86
11.10.1 Company Overview 86
11.10.2 Business/Product Segments 86
11.10.3 Financials 87
11.10.4 Key Developments 88
11.11 ADREX Group 89
11.11.1 Company Overview 89
11.11.2 Product/Business Segment 89
11.11.3 Financials 89
11.11.4 Key Developments 89
11.12 Henkel AG & Co. KGaA 90
11.12.1 Company Overview 90
11.12.2 Business/Product Segment 90
11.12.3 Financials 91
11.12.4 Key Developments 91
12 Conclusion 92

 

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