India Flooring Installation Adhesives Market Size Set to Touch USD 142.64 Million by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India flooring installation adhesives market size at USD 102.64 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects India flooring installation adhesives market size to grow at a significant CAGR of 5.64% reaching a value of USD 142.64 million by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India flooring installation adhesives market size at USD 102.64 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects India flooring installation adhesives market size to grow at a significant CAGR of 5.64% reaching a value of USD 142.64 million by 2029. Major growth drivers for the India flooring installation adhesives market include an increased utilization of ceramic and vitrified tiles, as well as natural stone, in both residential and commercial settings. This surge in demand can be attributed to the ample availability of these materials, as well as the necessity for heat-absorbing flooring solutions, particularly in regions with hot climatic conditions. Notably, the growing demand for laminate, linoleum, or wood flooring in various commercial applications within the hospitality industry, as well as residential applications in flats and apartments is expected to fuel the growth of India flooring adhesives market. The affordability offered by flooring adhesives is anticipated to accelerate their usage in budget housing, consequently fostering the expansion of the overall market. Also, the increasing popularity of decorative and visually appealing flooring is also contributing to the market's growth. As disposable income rises, people are willing to invest in attractive flooring options. However, fluctuating raw material prices and competition from alternative flooring methods are anticipated to restrain the overall market growth during the forecast period.
India Flooring Installation Adhesives Market – Overview
India flooring installation adhesives market refers to the sector that encompasses the production, distribution, and consumption of adhesives specifically designed for the installation of various types of flooring materials in the Indian market. This includes adhesives used for laminate, linoleum, wood, ceramic, and other types of flooring installations in both commercial and residential settings throughout India. The market encompasses manufacturers, suppliers, distributors, and end users involved in the procurement, application, and maintenance of flooring installation adhesives.
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Impact of COVID-19 on India Flooring Installation Adhesives Market
COVID-19 pandemic adversely affected the India flooring installation adhesives market. The nationwide lockdowns, supply chain disruptions, and economic slowdown caused by the pandemic resulted in a decline in construction activities and project delays. This directly affected the demand for flooring installation adhesives as new construction projects were put on hold. Also, the cautious consumer sentiment and financial uncertainties led to reduced spending on renovation and remodeling projects, further dampening the market growth. However, as the situation gradually improves and economic activities resume, the market is expected to recover, driven by pent-up demand and government stimulus measures.
India Flooring Installation Adhesives Market – By Application
Based on application, the India flooring installation adhesives market is divided into Tile & Stone, Carpet, Wood, and Laminate segments. The wood segment dominates the India flooring installation adhesives market by application. Wood flooring is highly sought after for its aesthetic appeal and natural beauty, making it a popular choice in both residential and commercial applications. The durability and longevity of wood flooring further contribute to its demand, requiring high-quality adhesives for proper installation. Wood flooring's versatility allows it to be installed in various settings, expanding its market potential. Advancements in adhesive technology have led to the development of specialized wood flooring adhesives with improved bonding strength and moisture resistance, further driving their preference in the Indian market.
Competitive Landscape
Major players operating in the India flooring installation adhesives market include Pidilite Industries Limited, BASF India, Sika India, Bostik, ADFAST POLYMERS, Arofine Polymers Pvt. Ltd., Astra Chemtech (P) Ltd, and MAPEI. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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