How is 'Make in India' Responsible for Boom in Indian Metal Bonding Adhesives Market?

The expansion of the manufacturing sector is the biggest factor powering the growth of the Indian metal bonding adhesives market. According to the observations of the India Brand Equity Foundation (IBEF), the manufacturing sector in the country attained a value of $91.2 billion between April 2000 and June 2019, primarily due to the massive rise in foreign direct investments. The manufacturing sector also received a massive boost from the government's various schemes, such as Make in India, which created numerous avenues for manufacturing companies, thereby pushing the demand for adhesives.

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As a result of the rising consumption of metal bonding adhesives in various industrial applications, such as cooling water pumps, ultra centrifuge rotors, reaction injection molding machines, base plates, and industrial pumps, the Indian metal bonding adhesives market is set to reach $343.6 million in revenue by 2030. The market was valued at $198.9 million in 2019, from where it is expected to experience a considerable surge during the forecast period (2020-2030), at a CAGR of 5.2%.

The rapid growth in the country's automotive sector is another factor fueling the rise of the metal bonding adhesives market in India. In the manufacturing process of automobiles, metal bonding adhesives are observing a substantial increase in their usage. These adhesives, on account of their ability to disperse stress more evenly, are increasingly being preferred over conventional fasteners, for binding together the different body panels used in trucks, buses, cars, and other vehicles.

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Depending on application, the metal bonding adhesives market of India is categorized into industrial machinery, consumer appliances, industrial maintenance, automotive, construction, and others. Amongst these, the automotive category had the largest share in the market, in terms of both revenue and volume, in 2019, and it is expected to record the largest market share during the forecast period as well. This is attributed to the boomingdemand for various automotive components, as a result of the huge growth inthe automotive and transportation industry, which is raising the need for metal bonding adhesives.

The biggest trend being witnessed in the Indian metal bonding adhesives market is the dramatic shift of consumers from conventional fasteners to metal bonding adhesives, as a result of their various advantages, such as low weight, eco-friendly nature, low cost, and the ability to provide an aesthetically pleasing final product. Due to their ease of handling and the ability to distribute stress evenly, metal bonding adhesives are finding preference over the traditional rivets and mechanical fasteners, especially among aircraft and automobile manufacturers.
Recent Strategic Developments of Major Market Players

In recent years, players in the Indian metal bonding adhesives market have taken several strategic measures, such as product launches, partnerships, and facility expansions, to gain a competitive edge in the industry. For instance, in November 2019, BASF SE announced plans to double its capacity for polymer dispersions in Dahej, India. These dispersions serve the construction, coatings, paper, and adhesives markets in the country.

Moreover, in March 2019, Pidilite Industries Limited collaborated with Jowat SE to exclusively handle the sales and distribution of the entire range of Jowat adhesives in India and other neighboring countries, namely Sri Lanka, Bangladesh, and Nepal.

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This release was published on openPR.