In 2023, the import value of adhesives based on rubber or plastic to India was estimated at approximately $107 million. The forecast for 2024 projects a gradual increase to $111.72 million, with a consistent year-on-year growth reaching $128.55 million by 2028. The year-on-year growth rates for these projections are approximately 3.87% for 2025, 3.67% for 2026, 3.47% for 2027, and 3.28% for 2028. Over the five-year period from 2023 to 2028, the compound annual growth rate (CAGR) is expected to be around 3.77%.
Future trends to watch for include:
- Increasing demand from the automotive and construction sectors could drive further imports.
- Potential shifts towards eco-friendly adhesive options may impact market dynamics.
- Technological advances in adhesive formulations could alter import needs.
- Regulatory changes concerning chemical imports and usage could affect import volumes.
