Huntsman India to enter wood glue mkt

Huntsman Advanced Materials India, a part of Huntsman Corporation of the US "� owner of Araldite, is entering the domestic wood adhesive market, by launching a range of premium products in the Rs 500 crore segment.

The company's maiden product in the segment "� Araldite Karpenter "� will compete directly with the current market leader, Fevicol. Huntsman's new wood glue brand is primarily targeted at carpenters, interior decorators, contractors and householders.

Fevicol, with about 65 per cent share, is the reigning leader in the domestic wood adhesive market, which has been growing at 16-18 per cent a year.

Asit Adhikari, regional director - India and Middle East, Huntsman Advance Materials India, said the company's target is to grab a substantial market share in the segment in the next five years.

"For the last 60 years, Araldite has been receiving a tremendous response and commands a market share of about 50 per cent in the epoxy segment. We are planning to use this platform to expand our product portfolio," he said.

Adhikari added that Huntsman is now looking at India and the Middle East as the two fast-emerging markets to "capture and focus on real growth opportunities".

Both the markets have been major contributors with an annual growth of around 20 per cent. "In all the markets we serve, we maintain a leading position through products differentiation and strong customer and technical support," he said.

Huntsman Advanced Materials India's manufacturing plant at Chennai caters to diverse customers like automotive electronics, power, aerospace, wind energy, marine and general manufacturing and construction and coatings. The plant also caters to the company's export markets in the US, the Middle East, Europe and Asia Pacific.

Besides the Chennai plant, Huntsman has toll manufacturing arrangements in India.

The company has appointed Bollywood actor Rajpal Yadav as its brand ambassador for Araldite Karpenter. Under the Araldite brand, Huntsman is also launching in India another range of products, the first being Araldite Builder in the construction chemical segment.