Bostik, a leading global adhesive specialist in construction, consumer and industrial markets, has been observing prosperous growth in India for the past few years. In 2018, the company started a new plant 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. It’s Bostik’s third plant in India with two other plants in Bangalore. In addition, the company has 15 warehouses and four sales offices with its headquarters in Bangalore.
Bostik started its operation in India in 1992 through an agreement between Coates India and Bostik UK. However, Bostik India separated from Coates in 2001 to become an entity by itself. “When we started in India, we were very small. But the market was huge, and that was a big advantage for us,” said Ganeshan MV, managing director at Bostik India.
“Today, we are growing at a CAGR of about 20%,” shared Ganeshan MV. “India is an extremely cost conscious market and therefore we have to make our products affordable. There is huge volatility in the market when it comes to raw material, currency and certain policy decisions. However, we have adapted to these things very quickly – I think this is one of the reasons why we have been so highly successful. We are very flexible in our outlook and always try to become more pragmatic in our approach while trying to move with the market to see how best we can satisfy it as well as our principles.”
Ganeshan MV added, “We have tried not to enter much into the commodity line. Instead, we have tried to offer something to the market which can be used for the development of the market as well as innovation. We see the opportunity of trying to spread our technological edge into those segment in which we are in. Today, a lot of people are seeing what is happening in the world more and more through media like television, internet etc. So it gives us a lot of opportunity to educate and transform people.”
Recently, the company invested in state-of -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. “Bostik’s strategy is to invest in key technologies and emerging countries. Hence, investing in India is inline with our our strategic agenda and we are trying to grow our business in India,” he said.
Speaking about Bostik’s green initiatives, Ganeshan MV said, “One of our key strategies is to offer sustainable solutions to our customers. In every segment that we are in, we are trying to offer a sustainable solution – be it converting from a solvent-based to solvent-free, solvent-based to water-based, or be it introducing new products which are more friendly to the environment. Whenever it is possible, we always try to offer a green product and this is not restricted to any particular segment but across all segment that we in.”
Bostik at Labelexpo India 2018
Bostik participated in the Labelexpo India 2018 exhibition where it showcased an extended range of adhesive technology and applications, including smart adhesives for label applications like difficult substrates. “The Labelexpo India event has given us a very good interface to communicate with customer and other stakeholders. It is a very good platform where one can see what has changed in two years ago and where the industry is heading towards. With every edition, Labelexpo is becoming more and more relevant for the industry,” Ganeshan MV concluded.
— Mahan Hazarika