Pidilite Industries has formed a new partnership with Hwaseung Chemical to introduce advanced footwear adhesives in India.

Partnership overview

The collaboration between Pidilite Industries and Hwaseung Chemical marks an entry into the advanced footwear adhesives segment in the Indian market. The partnership is aimed at bringing specialised adhesive solutions to India's footwear industry through this new alliance. Specifically, the deal introduces advanced South Korean bonding technologies, enabling manufacturers to enhance product performance, reliability, and sustainability while benefiting from localized technical expertise.

Strategic significance

The tie-up positions Pidilite Industries to address demand for specialised adhesive products within India's footwear manufacturing sector. Hwaseung Chemical's involvement brings expertise in advanced adhesive formulations to the partnership, enabling Pidilite Industries to expand its offerings in this category. Sudhanshu Vats, Managing Director of Pidilite Industries, noted that the collaboration enables the company to bring advanced adhesive technologies already trusted in international markets, helping manufacturers enhance productivity and meet evolving expectations of global brands.

Compliance and technical standards

The adhesive systems introduced under this partnership comply with stringent global environmental and safety standards. These include REACH, SVHC, Prop 65, and the U.S. Clean Air Act, while also aligning with ISO 14001 and RoHS requirements. The products are developed as low-VOC and non-flammable formulations, designed to support safer working environments and reduced environmental impact.

Chris Hyun, Vice-President of Hwaseung Group, stated that combining Hwaseung Chemical's advanced formulations with Pidilite's local expertise aims to support Indian manufacturers in achieving higher standards of performance, consistency, and sustainability.

Pidilite Industries has reported a revenue growth rate of approximately 14-15%, driven by strong volume momentum and favorable pricing dynamics.

Volume and pricing drivers

A company executive stated that average pricing contributed an additional 200-300 bps to the top line. This pricing uplift complements the underlying volume growth, which has crossed the 10% mark and is trending toward the low teen percentage range. The combination of these two factors results in the estimated overall revenue growth of 14-15%.

The following table summarises the key growth components disclosed:

What the Numbers Show

The data indicates a dual-engine growth model for Pidilite. While volume growth provides the foundational expansion (over 10%), the incremental 200-300 bps from pricing acts as a significant multiplier. This suggests that the company is not only capturing market share or demand but also retaining value through price realization, resulting in a total revenue trajectory that exceeds pure volume metrics by roughly 4-5 percentage points.