India Flooring Installation Adhesives Market Size, Share & Trends Analysis Report By Application (Resilient Flooring, Wooden Flooring, Laminated Flooring, Artificial Turf), And Segment Forecasts, 2020 - 2027

Report Overview

The India flooring installation adhesives market size was valued at USD 91.1 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.2% from 2020 to 2027. Increasing demand for flooring due to the growing usage of ceramic and vitrified tiles and natural stone in residential and commercial applications is expected to fuel the market growth. The demand was majorly driven by abundant availability and the need for heat-absorbing floorings as the country encounters hot climatic conditions. However, the market for resilient floorings in the country has witnessed growth in the recent past owing to the rising living standards, increasing spending capacity in terms of household application, and rising awareness concerning the benefits of resilient applications.

Major applications of resilient materials in flooring include office spaces, corporate spaces, institutes, educational facilities, sports grounds, indoor sporting clubs, gyms, healthcare facilities, and retail spaces. In 2018, vinyl flooring materials accounted for the largest market share in terms of consumption of resilient applications.

The maintenance cost of resilient materials is comparatively higher than ceramic and natural stone flooring, thereby resisting the growth. However, changing preferences of consumers toward comfortable and customized flooring materials are expected to drive the demand for a resilient segment over the forecast period.

Application Insights

Resilient applications accounted for a volume share of over 58% in 2019. The growing medical tourism in India on account of low-cost treatments has boosted the construction of new hospitals and healthcare units, which, in turn, is supporting the demand for a resilient segment.  

The development of tourist destinations across the country has increased the penetration of resilient applications in order to improve aesthetics across hotels and lodging spaces. Moreover, increasing government interventions for the establishment of state-level training and sports activity centers across the country have created ample opportunities for the manufacturers of adhesives.

Wood flooring application is anticipated to expand at CAGR of 6.2% from 2020 to 2027. The demand for adhesives in India has witnessed a slight growth in recent years owing to rising demand for customized and natural flooring materials in residential and commercial applications. Wooden floorings are further classified into laminates, bamboo floorings, engineered wood, and solid wood.

Country Insights

The growth of the Indian construction industry is a positive driver for the India flooring installation adhesives market. The Indian construction industry is expected to be the fastest-growing in the world until 2030. It is projected to add USD 1 trillion to the growth of the global construction market.

The supportive policies by the Indian government to bolster the urban infrastructure market in India to meet the demands of a rapidly growing urbanizing population is a key enabler for the construction industry growth in India. For instance, under the Union Budget of 2018-2019, the government allocated USD 92.2 billion for the infrastructure sector.

The construction industry has a major contribution towards increasing pollution-related problems as the industry consumes materials that emit VOC. Such concerns compelled the Confederation of the Indian Industry (CII) to establish the Indian Green Building Council (IGBC) in 2001. IGBC encourages builders, developers, owners, and other stakeholders in the construction industry to understand their contribution toward achieving national sustainability targets. From 2001 to 2015, the council has been instrumental in establishing 3.84 billion square feet of green buildings in India.

Key Companies & Market Share Insights

The players in the industry are focusing on continuous improvements by introducing various new products and installation techniques to maintain their dominance. Various strategies adopted by the industry players include the establishment of a dedicated channel for raw material procurement, using the latest technology for manufacturing, tie-ups with third-party manufacturers, the establishment of sales and distribution networks, and marketing strategies. Some of the prominent players 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.

• MAPEI

India Flooring Installation Adhesive Market Report Scope

Segments Covered in the Report

This report forecasts revenue & volume growth at a country level and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the India flooring installation adhesives market report based on application:

• Application Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)

  • Resilient Flooring

  • Wooden Flooring

  • Laminate Flooring

  • Artificial Turf