India Epoxy Resin Market Size & Outlook, 2022-2030
India epoxy resin market, 2019-2030 (US$M)
Related Markets
India epoxy resin market highlights
- The India epoxy resin market generated a revenue of USD 443.7 million in 2022 and is expected to reach USD 767.3 million by 2030.
- The India market is expected to grow at a CAGR of 7.1% from 2023 to 2030.
- In terms of segment, paints & coatings was the largest revenue generating application in 2022.
- Construction is the most lucrative application segment registering the fastest growth during the forecast period.
Epoxy resin market data book summary
| Market revenue in 2022 | USD 443.7 million |
| Market revenue in 2030 | USD 767.3 million |
| Growth rate | 7.1% (CAGR from 2022 to 2030) |
| Largest segment | Paints & coatings |
| Fastest growing segment | Construction |
| Historical data | 2019 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Paints & Coatings, Wind Turbines, Composites, Construction, Electrical & Electronics, Adhesives |
| Key market players worldwide | 3M Co, Aditya Birla Group, Basf SE, Solvay SA, Huntsman Corp, Olin Corp, Sika AG, Nan Ya Plastics, China Petroleum & Chemical Corp Class H, Momentive, Kolon Industries, Nagase & Co Ltd |
Other key industry trends
- In terms of revenue, India accounted for 3.5% of the global epoxy resin market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China epoxy resin market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 767.3 million by 2030.
Paints & coatings was the largest segment with a revenue share of 36.83% in 2022. Horizon Databook has segmented the India epoxy resin market based on paints & coatings, wind turbines, composites, construction, electrical & electronics, adhesives covering the revenue growth of each sub-segment from 2019 to 2030.
India allocated an investment budget of USD 1.4 trillion to infrastructure, with 24% for renewable energy, 18% for highways & roads, 17% for urban infrastructure, and 12% for railways. Growing middle-class population, improving standard of living, and rising disposable incomes are the major factors contributing to the growth of the construction industry, which, in turn, is expected to generate a demand for architectural and decorative paints and coatings over the forecast period propelling the demand for epoxy resins.
Furthermore, government initiatives such as Make in India, Smart Cities Mission, Housing for All, and 100% foreign direct investment (FDI) permitted through automatic routes in the construction sector are likely to boost market growth in the country over the coming years.
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Epoxy Resin Market Scope
Epoxy Resin Market Companies
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India epoxy resin market size, by application, 2019-2030 (US$M)
India Epoxy Resin Market Outlook Share, 2022 & 2030 (US$M)
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