The partnership will make Hwaseung Chemical’s adhesive products available to Indian footwear makers, including products used in the production of global sports footwear brands.
The adhesives are designed to provide strong and flexible bonds and can be used in large-scale footwear manufacturing.
How the partnership will work
Pidilite will provide local technical support and expertise, while Hwaseung Chemical will contribute its adhesive formulations and technology.
The companies said the products meet several international environmental and safety standards, including REACH, SVHC, Prop 65 and the US Clean Air Act.
The products are also aligned with ISO 14001 and RoHS requirements.
The companies said the formulations have low volatile organic compound (VOC) emissions, are non-flammable and can be used with modern manufacturing equipment.
Pidilite Managing Director Sudhanshu Vats said the partnership would combine Hwaseung Chemical’s technology with Pidilite’s local expertise to help footwear manufacturers improve productivity and maintain consistent quality.
Hwaseung Group Vice-President Chris Hyun said the partnership would help Indian footwear manufacturers meet the requirements of global brands.
Crude oil remains a key risk for Pidilite
Separately, Vats said on September 24 that crude oil prices staying above $100 a barrel would be the biggest near-term risk for Pidilite.
Crude is an important raw material for the company’s adhesives and chemicals business.
Vats said Pidilite would decide whether to increase prices depending on whether high crude prices prove temporary or persist for longer.
He said the company would pass on higher costs through price increases only if crude stays above $100 a barrel and only to cover the additional cost, rather than to protect profit margins.
Despite the volatility in crude prices, Vats said domestic demand remains strong, growing at double-digit rates.
He also said his recent visits to markets such as Yavatmal in Maharashtra showed that consumer sentiment remains healthy on the ground.
Pidilite Industries shares closed at ₹1,493.10 on the NSE on September 28, down 1.59% or ₹24.10 from the previous close.
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