India Epoxy Resins Market Size (2024 - 2029)

The India Epoxy Resins Market is experiencing growth, driven by the expanding construction sector and rising demand for adhesives and sealants in the automotive industry. Despite challenges posed by the hazardous nature of epoxy resins, the market's expansion is supported by government initiatives in manufacturing post-pandemic. The adoption of recyclable and reformable epoxy resins presents additional opportunities for market growth.

Market Size of India Epoxy Resins Industry

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India Epoxy Resins Market - Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR (2024 - 2029) 7.90 %
Market Concentration Medium

Major Players

India Epoxy Resins Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Epoxy Resin in India Market Analysis

The India Epoxy Resins Market size is estimated at 172 kilotons in 2024, and is expected to reach 251.57 kilotons by 2029, growing at a CAGR of 7.90% during the forecast period (2024-2029).

During the pandemic period due to COVID-19, the market was deeply impacted because of nationwide lockdown, stringent social distancing mandates, and supply chain disruptions. This led to a temporary halt in the production and manufacturing of different products such as paints and coatings, adhesives and sealants, etc., in which epoxy resins are required. However, the market's growth is picking pace because of the government's support to various manufacturing industries in the post-pandemic period.

  • The growing construction industry and increasing demand for adhesives and sealants from the automotive industry are the factors driving the market growth.
  • On the flip side, the hazardous impact of epoxy resins is expected to hinder the growth of the market.
  • The growing adoption of recyclable and reformable epoxy resin will act as a market oppurtunity in the forecast period.

Epoxy Resin in India Industry Segmentation

Epoxy resins are reinforced polymer composites derived from petroleum sources, resulting from a reactive process involving epoxide units. The Indian epoxy resin market is segmented by raw material and application. By raw material, the market is segmented into DGBEA, DGBEF, Novolac, Aliphatic, Glycidylamine, and Other Raw Materials. The market is segmented by application into paints and coatings, adhesives and sealants, composites, electrical and electronics, and other applications. For all the above segments, market sizing and forecasts have been done based on volume (tons).

Raw Material
DGBEA (Bisphenol A and ECH)
DGBEF (Bisphenol F and ECH)
Novolac (Formaldehyde and Phenols)
Aliphatic (Aliphatic Alcohols)
Glycidylamine (Aromatic Amines and ECH)
Other Raw Materials
Application
Paints and Coatings
Adhesives and sealants
Composites
Electrical and Electronics
Other Applications
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India Epoxy Resins Market Size Summary

The Indian epoxy resin market is poised for significant growth, driven by the expanding construction and automotive sectors. The market, which faced challenges during the COVID-19 pandemic due to lockdowns and supply chain disruptions, is now recovering with government support for manufacturing industries. The demand for epoxy resins is particularly strong in the paints and coatings segment, which is expected to grow rapidly due to its extensive application in building, automotive, energy, and electronics industries. Epoxy resins, especially those based on diglycidyl ether of bisphenol A (DGEBA), are favored for their mechanical properties, chemical resistance, and stability, making them ideal for use as binders in coatings to enhance durability.

Despite the promising growth prospects, the market faces challenges from the hazardous nature of epoxy resins, which could impede expansion. However, the adoption of recyclable and reformable epoxy resins presents a significant opportunity for market players. The Indian epoxy resin market is characterized by a mix of established companies and new entrants, with major players like Aditya Birla Chemicals, Atul Ltd., and KUKDO CHEMICAL Co. Ltd. actively participating in the market. Recent developments, such as Hexion's sale of its epoxy-based businesses and KUKDO Chemicals' expansion of production capacity, highlight the dynamic nature of the market. These factors, combined with government initiatives to boost manufacturing, are expected to drive the growth of the epoxy resin market in India over the forecast period.

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India Epoxy Resins Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Strong Growth in the Construction Industry

      2. 1.1.2 Increasing Demand of Adhesives and Sealants in Automotive Industry

    2. 1.2 Restraints

      1. 1.2.1 Hazardous Impact of Epoxy Resins

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Raw Material

      1. 2.1.1 DGBEA (Bisphenol A and ECH)

      2. 2.1.2 DGBEF (Bisphenol F and ECH)

      3. 2.1.3 Novolac (Formaldehyde and Phenols)

      4. 2.1.4 Aliphatic (Aliphatic Alcohols)

      5. 2.1.5 Glycidylamine (Aromatic Amines and ECH)

      6. 2.1.6 Other Raw Materials

    2. 2.2 Application

      1. 2.2.1 Paints and Coatings

      2. 2.2.2 Adhesives and sealants

      3. 2.2.3 Composites

      4. 2.2.4 Electrical and Electronics

      5. 2.2.5 Other Applications

India Epoxy Resins Market Size FAQs

The India Epoxy Resins Market size is expected to reach 172.00 kilotons in 2024 and grow at a CAGR of 7.90% to reach 251.57 kilotons by 2029.

In 2024, the India Epoxy Resins Market size is expected to reach 172.00 kilotons.

India Epoxy Resin Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)