The market of natural gum, globally, will be growing at a CAGR of around 8% in the forecasted period. Whereas, according to NIIR project consultancy services (NPCS) analysts, the market of adhesives and sealants is recorded to see healthy growth, at an estimated CAGR of over 7% in the upcoming years. High demand from the packaging industry is anticipated to push the market’s growth in the forecasted period. The market of Indian adhesives and sealants is consolidated among the top four players with an approximated market share of 85%. The major companies include Pidilite Industries Ltd, Henkel AG & Co. KGaA, Sika AG, Arkema Group, and H.B. Fuller Company, amongst others. The growth in manufacturing in the country is expected to create opportunities for the industry’s growth in the upcoming years. By the end-user industry, the paper, board, and packaging industry dominated the market.
Related Projects:- Adhesives and Sealants, Industrial Adhesives, Glues, Gums and Binders, Synthetic Resin, Resins (Guar Gum, Adhesive [Fevicol Type], Sodium Silicate Adhesive, Hot Melt Adhesives, Rubber Based Adhesive, Acrylic Adhesives, Guar Gum Powder, Gum Arabic)
Increasing Demand from Building and Construction Industry
- Gums, adhesives, and sealants are extensively being used in the building and construction industry because of their characteristics and physical properties. The properties include high adhesion and elasticity, cohesion, high cohesive strength, flexibility, the high elastic modulus of the substrate, resistance from thermal expansion, and environmental resistance from UV light, corrosion, salt water, rain, and other weathering conditions.
- Construction is one of the biggest sectors across the globe that has been growing rapidly. The key drivers of the industry are increasing population, increase in the income of the middle class, and lastly urbanization.
- The government is also taking a lot of steps in restructuring corporate taxes and making them more appealing to foreign investors. The step is expected to push the investment in healthcare, education, housing, transport, and also water infrastructure sectors.
- Investment worth USD 31,650 billion has been proposed by 99 cities in the smart city plans. 100 smart cities and 500 cities are expected to invite investment of worth 2 trillion in the upcoming 5 years.
- All the above-mentioned factors, in turn, are anticipated to push the demand for gums, adhesives, and sealants in the country in the upcoming years.
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Market Growth of Adhesives and Sealants
The market of adhesives and sealants is expected to reach from USD 58.9 billion in the year 2019 to USD 73.8 billion by the year 2024, at a CAGR of 4.6% in the upcoming years. The market of adhesives and sealants is being driven by the increasing trend of lightweight and low carbon-emitting vehicles and rising demand from the building and construction industry. The increased acceptance of adhesives and sealants in paper and packaging, building & construction, woodworking, consumer/DIY, automotive & transportation, leather & footwear, assembly, and other applications are expected to push the growth of the industry.
The acrylic is expected to see the highest CAGR of 6.3 % in the adhesives industry during the forecasted period. Acrylic-based materials are majorly used in the development of waterborne, heat resistant, and UV light curing adhesives. Additionally, it has a fast setting time, robust bonding characteristics, and good environmental resistance. The Asia Pacific market is expected to witness the highest CAGR of 7.2% in the forecasted period. Increasing industrialization increased GDP growth, and a rise in manufacturing output is expected to push regional growth. The support from government policies is also anticipated to drive the construction industry and it will support product penetration in the region.
The book by NPCS “Gums, Adhesives & Sealants Technology (with Formulae & their Applications) 2nd Edition” covers all the important aspects of the Gum, adhesive, and sealant industry along with the formulation and application. The book will be a great support to the new entrepreneurs, and also to those who are researching the industry. It covers the information on various topics such as fundamentals, properties, uses and applications, formulations and chemistry, methods of manufacturing, etc.