The India epoxy resins market is predicted to rise with a CAGR of 6.95% over the forecasting period, reaching a revenue share of $897.80 million by 2028. The base year considered for the studied market is 2021, and the forecasted years are from 2022 to 2028.

The market growth of the country is primarily ascribed to stable government support for infrastructural development, in addition to the expanded involvement of the private sector.

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Epoxy materials are organic polymer materials that can be made by polymerizing an epoxide with another compound comprising two hydroxyl groups. They are a type of synthetic thermosetting resins and well-balanced industrial materials with a wide variety of physical forms. Although epoxy materials are generally available in liquid form at room temperatures, they can be changed into solid form chemically. Moreover, epoxies provide low shrinkage, high strength, excellent adhesion to various substrates, moisture resistance, thermal solidity, chemical and solvent resistance, effective electric insulation, and corrosion protection.

The construction industry in India is anticipated to grow at a significant rate over the upcoming ten years. The rise in the private sector, as well as government investments in infrastructure development and non-residential and residential buildings, is set to play an integral role in bolstering the construction market in the country.

Moreover, government support in India is is exemplified in expansionary budgetary allocations for infrastructure projects, in addition to regulatory reforms, thereby opening novel sectors to private involvement and investment. Furthermore, the surge in automobile production, coupled with activities and initiatives undertaken by automotive manufacturers, is expected to generate lucrative growth opportunities for the vehicular industry across India during the estimated period. Hence, these factors are set to augment the epoxy resins market growth.

The India epoxy resins market is segmented into component, raw material, and application. The raw material category is further classified into aliphatic (aliphatic alcohols), DGBEA (bisphenol A & ECH), novolac (formaldehyde & phenols), DGBEF (bisphenol F & ECH), and other raw materials. Aliphatic epoxy resins constitute properties like high-temperature resistance, moisture resistance, superior electrical insulation, as well as enhanced UV resistance. Besides, they are primarily utilized in weather-resistant solvent-based coatings for outdoor applications, including filament winding, vacuum pressure impregnation, and potting.

On the other hand, glycidylamine epoxy resins are manufactured by reacting aromatic amines with ECH. Glycidyl amine epoxy resins have high reactivity, mechanical properties, chemical resistance, and relatively low room temperature viscosity, ensuring easy handling. They are also used in manufacturing fiber-reinforced composites, coatings, and adhesives. The resins are developed for meeting the criteria of relatively high thermal resistance, particularly for demanding aeronautical applications.

Some of the top companies operating in the India epoxy resins market are Aditya Birla Chemicals Ltd, BASF, Pidilite Industries Ltd, etc.

Aditya Birla Chemicals Ltd (ABC), headquartered in India, is a manufacturing subsidiary for specialty and bulk chemicals under the Aditya Birla Group. The group has several business units offering financial services. These include telecom services, BPO and IT services, and products such as viscose staple fibers, fertilizers, chemicals, branded apparel, insulators, carbon black, and others. The company’s geographical presence spans India, China, Thailand, and Germany. In India, Aditya Birla Chemicals Ltd is a leading manufacturer of viscose filament yarns as well as color-alkalis with around 7 manufacturing sites across the country.

Cycloaliphatic Resins, the company’s product, is utilized for the formulation of weather-resistant solvent-based coatings, primarily for outdoor applications.

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