2025.12.09
Taiwan’s First Listed Adhesive Manufacturer to Establish a Plant in India
Taiwan’s First Listed Adhesive Manufacturer to Establish a Plant in IndiaTex Year Group announced that its second plant in the Mahad Industrial Area of Maharashtra, India, Tex Year Technologies India Pvt. Ltd., has officially commenced mass production. In the first phase, the new plant is equipped with three main production lines, raising Tex Year India’s total annual capacity from 3,400 tons to 10,000 tons. This capacity expansion will enable the Company to more effectively meet the rapidly growing demand in India and neighboring markets, further strengthening Tex Year’s footprint in the South Asian hot melt adhesive markets. On December 8, Tex Year hosted an opening reception for the new India plant at Hyatt Place New Taipei City Xinzhuang. The event was graced by Former Vice President of the Republic of China Chen Chien-Jen and his wife, India-Taipei Association Deputy Director General Naman Kumar Singla, as well as distinguished guests from industry, government, and various trade associations, who all attended the ribbon-cutting ceremony. A live video link connected the venue to the new plant in India, allowing management teams from Tex Year’s global subsidiaries to participate online, symbolizing an important milestone in the Group’s global operations integration and New Southbound deployment.The ribbon-cutting ceremony was officiated by Former Vice President Chien-Jen Chen, Deputy Director-General of the India-Taipei Association Naman Kumar Singla, Tex Year Group Founder Chin-Tsung Hsiao, Chairman and Chief Executive Officer Donald Hsiao, together with distinguished guests from various sectors.Tex Year officially entered the Indian market in 2013 through the establishment of the joint venture Tex Year Industrial Adhesives Pvt. Ltd., becoming the first Taiwan-listed adhesive manufacturer to build a plant in India and has since been deeply cultivating local customers and channels. As a member of Tex Year Group, Tex Year India inherits Tex Year’s core technologies and brand DNA, producing a wide range of adhesive products locally to shorten lead times and enhance service flexibility. Tex Year India also possesses integrated supply chain capabilities spanning production, marketing, and procurement, enabling it to adjust product portfolios and application solutions in line with customer needs. In the period from January to October 2025, despite being constrained by insufficient production capacity, Tex Year India still delivered YoY revenue growth close to double digits. As the second plant gradually ramps up capacity and the customer portfolio continues to optimize, overall growth momentum is expected to further strengthen, with the results of years of strategic deployment now beginning to be reflected in operating performance.According to an international research institute (Note 1), the Indian hot melt adhesive market is estimated to reach a size of approximately USD 200–300 million in 2024 and is expected to grow at a compound annual growth rate (CAGR) of around 10% from 2024 to 2030. The key growth drivers include the booming development of packaging and e-commerce, expanding applications in white goods, the upgrading of automotive and construction manufacturing, foreign electronics manufacturers increasing investment in India, and increasing demand for low-VOC and green, environmentally friendly adhesives. These industry trends are highly aligned with Tex Year’s strategy in India to expand capacity and focus on green materials such as hot melt adhesives and water-based adhesives, which will support capacity utilization and revenue growth at the India second plant going forward.Amid global trends of carbon reduction and plastic reduction, hot melt adhesives are gaining importance across a wide array of applications due to their fast curing, solvent-free formulations, and contribution to lowering carbon emissions and pollution. In India, Tex Year adopts “Green Materials + Local Manufacturing + Global Technical Support” as its core strategy and leverages its GPS Green Platform Strategy® as the driving engine to expand the use of green materials into courier bags, paper labels, kraft paper tapes, bathroom products and mattresses, as well as other home and packaging applications. These efforts are further being extended into automotive interiors, component bonding and acoustic materials, batteries and electric vehicles, electronic assembly, and other high-end applications. From January through October 2025, sales of automotive batteries adhesives have already far exceeded the full-year level of 2024, highlighting the immense potential of high-performance adhesive solutions for the battery and electric vehicle industries. Adhesives for bathroom products and mattresses recorded approximately three-fold growth compared with the previous year, reflecting rising demand in the Indian home and bedding markets for high-quality, comfortable and safe materials.In water-based adhesives, Tex Year’s R&D Center has developed formulations that are competitive with leading mattress adhesive brands and successfully gained market entry, driving a significant increase in orders. For mattress applications, in addition to water-based adhesives, Tex Year also offers hot melt and PUR, enabling it to meet the diverse needs of the Indian mattress market. The Company will continue to expand its portfolio of environmentally friendly, low-odor water-based products to help customers upgrade toward a circular economy and plastic reduction, while also echoing the Indian government’s “Make in India” initiative and related investment incentive policies. With the smooth trial runs of hot melt and water-based adhesive products in the first phase of Tex Year India’s second plant, the Company will continue to optimize formulations and expand production lines in line with market demand, enhancing regional supply flexibility and strengthening local service capabilities.Looking ahead, Tex Year is optimistic about India’s long-term structural growth potential, driven by its young demographic profile, manufacturing upgrades and green transformation. The Company has launched its “Greater India Strategy,” centered on “Deployment × Expansion × Synergies,” positioning India as the core hub for South Asia and neighboring emerging markets. Tex Year will prioritize the build-out of production capacity and operating sites, further expanding into South Asia, the Middle East and other regions, thereby elevating India from a single market to a regional manufacturing and operational center. At the same time, Tex Year will leverage cross-regional synergies to continually deepen its service offerings and enhance product competitiveness in green materials, plastic reduction and sustainable solutions. Tex Year India will target double-digit revenue growth, while this new plant is expected to become a model facility in the industry for plastic reduction and sustainable materials, working hand in hand with customers in India and around the world to build a more competitive and sustainable value chain.Note 1: Source: Grand View Research, India Hot Melt Adhesives Market, 2024–2030For more information, please visit the official website and LinkedIn page of Tex Year:Website: https://www.texyear.com/green.php?act=productLinkedIn: https://www.linkedin.com/company/5802267/admin/For further inquiries, please contact:Spokesperson: Roger Kao, Chief Financial OfficerOr media contact: Linda Yao, Acting Spokesperson
