Decorative Panels Demand Supports Adhesive Market Growth

person access_time2 03 May 2024

White Glue Adhesive demand has noted sustainable growth year on year with increasing demand for decorative panels for the home interior sector. India has seen huge growth in demand for decorative laminates, Decorative Veneers, Acrylic laminates, PVC Laminates, Louvers etc. These consumption has been supporting the demand of White Glue Adhesive, because it is an important component of furniture making application.

Fevicol is the market leader in this segment, having approx 60 % market share in Wood Adhesive categories followed by the emerging brand Euro 7000 from Ahmedabad based Jyoti Resins and Adhesives Ltd. Euro 7000 has reached the pan India retail market with good quality products in the last 5 years.

Brands like Mahacol and Jivanjor are also taking their market share in the organised Wood Adhesives market, having a presence in the retail market. The entry of Paint Baron Asian Paints in this segment will be interesting in the Adhesive market, if they bring good quality products sustainably in the market. There are numbers of fragmented and unorganised companies making wood adhesive, but they are not sustainably supplying the right quality products, although they have higher volume than organised companies.

The introduction of PVC/WPC boards, Acrylic and PVC Laminates, growing Edge band Tape consumption in the retail market etc has brought new opportunities for wood adhesives companies to launch premium grade white adhesive for suitable application.

Growing number of OEMs, furniture and kitchen manufacturing also support demand for wood adhesive for industrial use. Cold press, Hot Press and holt melt application is another driver of wood adhesives market in India.

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