Market Overview:
The India Tile Adhesive Market, as per a report by Market Research Future (MRFR) is touted to register a CAGR of 9.09%, surpassing a valuation of USD 136.76 million during the forecast period (2015-2023). The growth in the India Tile Adhesive Market can be attributed to the recent boom in the construction activities, commercialization, and high FDI. Rapid urbanization, the introduction of better performing construction chemicals, and awareness among the end users are likely to elevate the scope for the Tile Adhesive Market in India. Government initiatives about infrastructure and real estate segments, coupled with the increasing disposable income are likely to propel the use of high-quality construction chemicals like sealants, Tile Adhesives, and grouts.
Contractors and builders in India have realized the importance of using construction chemicals to attain long-lasting, better quality, and reliable infrastructure despite the high cost. Cementitious tile adhesives are now being modified with new combinations in order to replace expensive polyurethane and epoxy combinations. This is expected to fuel the market growth in the coming years. Moreover, initiatives taken by the government like Make in India and changes in investment policies are likely to boost construction activities, thereby encouraging the market growth in the foreseeable future.
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Competitive Dashboard:
The Top Players Operating in the India Tile Adhesive Market include MYK LATICRETE INDIA PVT LTD, Pidilite Industries Ltd, Fosroc India, Saint-Gobain Weber, Huntsman Corporation, BASF India Ltd, Bostik, Kajaria Ceramics Limited, SIKA INDIA, H.B. Fuller Company, Henkel AG & Co. KGaA, and ADREX Group.
India Tile Adhesive Market: Segmental Analysis
The India Tile Adhesive Market has been segmented on the basis of Type, Construction Activity and End User.
By Type, the India Tile Adhesive Market is segmented into cementitious tile adhesive, epoxy tile adhesive, and dispersion tile adhesive. Of these, the cementitious tile adhesive segment is likely to gain prominence as polymer-modified cementitious chemistry bonds a wide range of porcelain and ceramic tiles to concrete substrates. Moreover, the price of these adhesives is the lowest as cement is available in abundance. Such factors are likely to encourage the market growth in the segment.
The Construction Activity includes new construction and repair & renovation. Of these, the new construction segment will gain significant prominence in the coming years as huge residential projects are planned in India. The government has planned to increase the investment pattern in order to improve the living standards of the people. Such factors are estimated to promote the market growth in the segment.
Based on the Application, the market constitutes of commercial, residential, and institutional. Of these, Tile Adhesive is highly in demand from the commercial sector due to the surging demand for decorative tiles, especially from retail outlets, malls, airports, and others.
Regional Frontiers:
The Tile Adhesive Market in India is expanding at a rapid pace, and the growth can be attributed mainly to the homeowners who are looking forward to replacing worn and old flooring with aesthetically appealing and modern tile styles. There is an increased demand for decorative tiles in non-residential construction activities like airports, malls, retail outlets, office buildings, and other commercial and municipal buildings. This is likely to create a great impact on the growth of the India Tile Adhesive Market. Market Players in the APAC are constantly launching new products in order to offer enhanced adhesion and better bonding ability. This will help the players to expand their production capacities in tile adhesives.
Fosroc India, for instance, has recently launched a range of high-quality tiling products, which offers improvements over the existing tiling solutions. Also, Kajaria has inaugurated its largest state-of-art galaxy store in New Delhi. Such developments have resulted in the market growth in India.
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