The India Tile Adhesive Market is predicted to reach USD 136.76 million at an admirable 9.09% CAGR during 2017- 2023, according to the latest report by the Market Research Future (MRFR). The Tile Adhesive plays a crucial role in the tile industry, which has wide applications in the construction sector. Tile Adhesives often times are used in different construction activities because they provide excellent chemical resistance, good shock resistance, high impact, and good bond strength. Epoxy Tile Adhesive, cementitious tile adhesive, and dispersion Tile Adhesive are the different types of tile adhesives that are widely used in different types of commercial, residential, and institutional activities.
Various factors are propelling the growth of the India Tile Adhesive Market. As per the latest MRFR report, these factors comprise surging demand for decorative or aesthetically pleasing tiles, consumers growing interest in renovations of the present decorative and housing tiles, growing disposable income, and rising urbanization. Besides, increasing infrastructural development activities, surging construction activities particularly in emerging markets, rise in commercial activities by foreign countries for large investments, growing use of ceramic tile, and increase in residential construction activities are also adding market growth.
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On the flip side, low-profit margins, coupled with lesser awareness, may limit the growth of the India tile adhesive market during the forecast period. Besides, due to the ongoing COVID-19 outbreak, the market has experienced a halt in demand for the expected decline in renovation/refurbishment activity in the future. Social distancing, coupled with prolonged lockdowns had a grave impact on the entire building material sector, which is predicted to get back to normalcy towards the end of 2020.
Eminent Players in the India Tile Adhesive Market include Huntsman Corporation, Henkel AG & Co. KGaA, India Tile Adhesive Market Pidilite Industries Ltd, SIKA INDIA, Saint-Gobain Weber, ADREX Group, Fosroc India, Bostik, MYK LATICRETE INDIA PVT LTD, H.B. Fuller Company, Kajaria Ceramics Limited, BASF India Ltd, and others.
The MRFR Report Provides an inclusive segmental overview of the India Tile Adhesive Market based on Construction Activity, Type, and Application.
Based on the Type, the market is segmented into epoxy tile adhesive, cementitious tile adhesive, and dispersion tile adhesive. Among these, the cementitious tile adhesive segment will command the largest share over the forecast period. Increasing applications in wall tile adhesive & ceramic flood adhesives are adding to the growth of the segment.
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Based on Construction Activity, the market has been segmented into new construction & repair and renovation. Among these, new construction will have a major share in the market over the forecast period. Rising aspirations, especially of large middle-income people, the commitment to increase expenditure by the Government of India on infrastructural activities, and changing demographics in the country are adding to the segmental growth.
Based on the Application, the market has been segmented into commercial, residential, and institutional. Among these, residential will lead the market during the forecast period. Rapid urbanization, several ambitious programs that the Government of India has launched, and booming housing construction activities are adding to the segmental growth.
By Region, the India Adhesive Market Report covers the recent trends & growth opportunities across entire India. Increase in renovations, construction of new housing complexes, growing urbanization, surging demand for decorative & aesthetically pleasing tiles in residential as well as commercial buildings with usages including wall coverings, countertops, and more are propelling the growth of the India Tile Adhesive Market. Besides, the increasing living standards of people, growing disposable income, the rise in construction activities, growing use of ceramic tiles, and surging commercial & residential construction activities are also adding market growth.
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