Adhesive maker Bostik banks on innovation for growth in India
Global adhesives maker Bostik, which participated in the Label Expo India 2018, said that it is witnessing a positive growth in the country for the past few years. “With the rapid growth of India’s adhesives market through disruptive innovations, we have new opportunities in the market.
Global adhesives maker Bostik, which participated in the Label Expo India 2018, said that it is witnessing a positive growth in the country for the past few years. “With the rapid growth of India’s adhesives market through disruptive innovations, we have new opportunities in the market. Our key strengths in India would include flexible food packaging where we would see a growth of more than 25 per cent this year. With the market growing at more than 10 per cent and also having the new plant in Gujarat to service a range of new and existing customers, we expect to keep up a strong growth momentum in this segment,” said Ganeshan M V, Managing Director, Bostik India.
Recently, the company invested in a state-of-the-art equipment to produce advanced hot melt pressure sensitive adhesives (HMPSA) for a range of industrial sectors including for tapes and labels, transportation and footwear production. Last year, the company opened a modern production facility in Gujarat to meet the increasing demand for adhesives in the industrial markets of India and South Asia. The new facility currently applies the latest manufacturing techniques to produce liquid adhesives for flexible lamination and footwear.
According to global market research firm, TechSci, the adhesives market in India is estimated to exceed $1.3 billion by 2025, and this can be attributed to the growth of industries such as building and construction, food and beverage, as well as furniture. Furthermore, rising awareness and knowledge about adhesive types and applications, as well as the improvements in technological advancements have led to the development of new and advanced adhesives that will lead the demand in India in the next few years.
Being the market leader in this segment, Bostik showcased an extended range of adhesive technology and applications (including smart adhesives for label applications like difficult substrates) at Label Expo India 2018, the largest event for the label and package printing industry in South Asia.