India Hot Melt Adhesive Market size is anticipated to grow at a CAGR of 8.6% during 2023-2029

Western region accounted for the major revenue share in the India Hot Melt Adhesive Market – 6Wresearch

The western region is the industrial hub of the country with industrial clusters of pharmaceutical, food processing, and chemical factories. Thus, it inspires the most demand for hot melt adhesives in the packaging applications. Other sectors such as construction, leather, and automobiles are also active in the region. Hence, it is expected to retain its dominant position in terms of both growth and revenue share.

According to 6Wresearch, India Hot Melt Adhesive Market size is anticipated to grow at a CAGR of 8.6% during 2023-2029. Rapidly growing infrastructure development would expand the residential, commercial, and industrial sectors of the country attributing to the demand for consumer and industrial products thereby driving the market of Hot melt adhesive in the forecast period. After the pandemic, India’s manufacturing sector has gotten a push as several big businesses are going for China plus 1 strategy for diversification thus, decreasing their overall risk due to over-dependence on China. Therefore, to capitalize on this opportunity for India’s manufacturing sector, India is investing in the promotion of Electronics and IT Hardware Manufacturing and Faster Adoption and Manufacturing of Hybrid and Electric Vehicle. While hot melt adhesives offer several advantages such as fast setting times and good bonding strength, they also face competition from other adhesive technologies such as solvent-based adhesives, which are relatively low cost and offer good adhesion to a wide range of materials.

According to Ravi Bhandari, Research Head, 6Wresearch, by end-user industry, Paper, Board, and Packaging owns the majority of the revenue share and it is going to retain its dominant position in 2029 as well. As India’s packaging industry is one of the biggest and highest growing in the world, thus, this industry positions itself as a lucrative investment for investors.

The India Hot Melt Adhesive Market (2023-2029)” report provides an in-depth analysis with 23 figures and 3 tables, covering 69 pages. The report on India Hot Melt Adhesive Market comprehensively covers the market by product type, end-user industry, and region. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.