![India Epoxy Resins Market Size India Epoxy Resins Market - Market Summary](https://s3.mordorintelligence.com/india-epoxy-resins-market/india-epoxy-resins-market-size-image-1735456719269.webp)
Study Period | 2019 - 2030 |
Base Year For Estimation | 2024 |
Forecast Data Period | 2025 - 2030 |
Market Volume (2025) | 185.59 kilotons |
Market Volume (2030) | 271.43 kilotons |
CAGR | 7.90 % |
Market Concentration | Medium |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
Epoxy Resin in India Market Analysis
The India Epoxy Resins Market size is estimated at 185.59 kilotons in 2025, and is expected to reach 271.43 kilotons by 2030, at a CAGR of 7.9% during the forecast period (2025-2030).
The Indian epoxy resins industry is experiencing significant transformation driven by broader industrial policy initiatives and infrastructure development plans. The government's ambitious target to achieve USD 1 trillion in manufactured goods exports, outlined in August 2021, has created a robust framework for manufacturing sector growth. This policy environment has particularly benefited the epoxy resins market through increased demand from various end-use industries. The manufacturing sector's expansion has been further supported by initiatives like "Make in India" and "Aatma Nirbhar Bharat," which have attracted substantial investments in domestic production capabilities.
The paint and coatings sector, a major consumer of epoxy resins, has witnessed significant consolidation and growth. The Indian paint industry, with an estimated turnover of INR 50,000 crore, is dominated by key players like Asian Paints, Kansai Nerolac, Berger Paints, and Akzo Nobel India, who collectively hold more than 65% market share. Notably, more than 75% of the Indian paint industry comprises decorative paints, while industrial applications account for the remaining segment. This market structure has led to increased standardization of epoxy resin specifications and quality requirements across the industry.
The electronics manufacturing sector has emerged as a crucial growth driver for epoxy resins, with the Indian electronics market projected to reach USD 400 billion by 2025. The government's Digital India initiative and the Production Linked Incentive (PLI) scheme have accelerated domestic electronics production, creating new demand channels for epoxy resins in circuit board manufacturing and electronic component assembly. The implementation of these schemes has attracted significant investments in local manufacturing facilities, particularly in semiconductor and consumer electronics production.
A notable industry-wide shift is occurring towards environmentally sustainable and recyclable thermosetting resins, driven by increasing environmental consciousness and regulatory requirements. Manufacturers are investing in research and development of bio-based epoxy polymers and exploring innovative recycling technologies for thermoset polymers. This trend is particularly evident in the development of epoxy vitrimers, which combine the performance characteristics of traditional epoxy resins with enhanced recyclability properties. The industry is also witnessing increased adoption of waterborne high-performance resins systems, which offer reduced volatile organic compound (VOC) emissions while maintaining performance standards.
Epoxy Resin in India Market Trends
STRONG GROWTH OF THE CONSTRUCTION INDUSTRY
The robust growth of India's construction industry has emerged as a significant driver for the construction epoxy market, with the sector predicted to become the third-largest construction market globally, reaching a size of almost USD 1 trillion by the end of the forecast period. The government has implemented various transformative programs to boost the construction sector, including the Smart Cities project and the Housing for All initiative, complemented by regulatory reforms such as the Real Estate Act, GST, and REITs to expedite approvals and enhance the building sector. Under the Pradhanmantri Awas Yojana, the government has introduced interest subventions of 3% and 4% for loans up to INR 12 lakhs and INR 9 lakhs, respectively, demonstrating strong support for housing construction activities.
The construction sector's growth is further evidenced by significant foreign investment interest, with Foreign Direct Investment (FDI) in construction development reaching USD 25.66 billion between April 2000 and March 2020. The development of individual townships, such as the Palva industrial township and Zaheerabad integrated industrial township, involving both public and private investments totaling USD 29.38 billion, is driving sector expansion. Additionally, the government has increased its infrastructure development expenditure by 20.9%, rising from INR 4.9 trillion to INR 6 trillion, demonstrating a strong commitment to infrastructure growth. These developments directly impact the demand for epoxy coatings, which are essential in construction applications for protecting cementitious materials, enhancing structural durability, and creating high-performance flooring solutions.
OTHER DRIVERS
The superior technical properties and versatility of epoxy resins serve as a fundamental driver for market growth, with these materials offering exceptional strength, durability, and chemical resistance characteristics. Epoxy adhesives demonstrate superior flexural strength compared to polyester alternatives and maintain excellent chemical stability against various substances, including acids, solvents, salts, and alkaline compounds. The extended pot life of epoxy resins, ranging from 40 to 100 minutes for curing, provides manufacturers with greater flexibility in application processes, while their near-odorless nature and resistance to microbial growth make them ideal for food and pharmaceutical industry applications.
The market is further driven by significant capacity expansions and technological advancements in the industry. For instance, Aditya Birla Group's Advanced Materials business has undertaken a brownfield expansion at its Vilayat, Gujarat location to increase capacity by 125 kilotons per annum, encompassing both standard and custom epoxy materials. The growing adoption of industrial epoxy in specialized applications, such as marble top casting with thicknesses up to 50mm in a single pour, demonstrates the material's expanding utility. Additionally, the increasing demand for environmentally sustainable solutions has led to innovations in epoxy resin technology, including the development of bio-based resources and recyclable formulations, creating new opportunities for market growth.
Segment Analysis: Raw Material
DGEBA Segment in India Epoxy Resins Market
The DGEBA (Bisphenol A and ECH) segment dominates the India epoxy resins market, accounting for approximately 65% of the total market volume in 2024. This significant market share can be attributed to DGEBA's versatile properties and widespread applications across various industries. The segment's dominance is primarily driven by its extensive use in manufacturing paints, coatings, adhesives, and composites for construction and industrial applications. DGEBA resins are particularly valued for their excellent mechanical properties, chemical resistance, and superior adhesion capabilities. The segment is also experiencing the fastest growth in the market, driven by strong demand from the construction industry and increasing applications in protective coatings. The growing adoption of DGEBA-based epoxy systems in high-performance applications, particularly in infrastructure development and industrial maintenance, continues to strengthen its market position.
![Market Analysis of India Epoxy Resins Market: Chart for Raw Material](https://s3.mordorintelligence.com/india-epoxy-resins-market/india-epoxy-resins-market-India-Epoxy-Resins-Market-Market-Share-by-Raw-Material-Segment-2024-1737047604553.webp)
Remaining Segments in Raw Material Segmentation
The other significant segments in the India epoxy resins market include DGEBF (Bisphenol F and ECH), Novolac epoxy (Formaldehyde and Phenols), Aliphatic (Aliphatic Alcohols), Glycidylamine (Aromatic Amines and ECH), and other raw materials. DGEBF resins have established themselves as important alternatives to DGEBA, particularly in applications requiring lower viscosity and enhanced chemical resistance. Novolac epoxy resins are crucial in high-temperature applications and environments requiring exceptional chemical resistance. Aliphatic resins have found their niche in applications requiring superior weather resistance and UV stability. Glycidylamine resins are primarily utilized in specialized applications requiring high-temperature performance, particularly in aerospace and advanced epoxy composites. These segments collectively provide formulators and end-users with a comprehensive range of options to meet specific application requirements and performance criteria.
Segment Analysis: Application
Paints and Coatings Segment in India Epoxy Resins Market
The paints and coatings segment dominates the India epoxy resins market, accounting for approximately 53% of the total market volume in 2024. This significant market share is driven by the extensive use of epoxy formulation in various coating applications, from protective industrial coatings to decorative paints. The segment's growth is supported by India's robust construction industry, which is expected to become the third-largest globally with a projected size of almost USD 1 trillion. The government's initiatives, like the Smart Cities project and Housing for All, are providing substantial momentum to the construction sector, directly boosting the demand for epoxy-based paints and coatings. Additionally, the segment is experiencing strong growth at around 9% annually through 2029, the highest among all applications, driven by increasing demand in automotive, marine, and industrial coatings sectors. The Indian paint industry, with an estimated turnover of around INR 50,000 crore, continues to expand with major players like Asian Paints and Berger Paints operating multiple production facilities across the country.
Remaining Segments in Application Segmentation
The composites segment represents the second-largest application area for epoxy resins in India, primarily driven by increasing adoption in wind energy installations, aerospace, and defense industries. The electrical and electronics segment maintains steady demand due to the growing electronics manufacturing ecosystem in India, supported by initiatives like Digital India and the Production Linked Incentive (PLI) scheme. The adhesives and sealants segment serves crucial applications in automotive and construction industries, while other applications include specialized uses in pharmaceuticals, biomedical systems, glass and ceramics, agrochemicals, and paper industries. These segments collectively contribute to the market's diverse application portfolio, with each serving specific industrial needs and benefiting from India's growing manufacturing sector and infrastructure development initiatives.
Epoxy Resin in India Industry Overview
Top Companies in India Epoxy Resins Market
The Indian epoxy resins market is characterized by the strong presence of both domestic and international players, with companies like Aditya Birla Chemicals, Atul Ltd, Huntsman International LLC, and KUKDO Chemical leading the market. These companies are focusing on continuous product innovation through dedicated research and development facilities, particularly in developing sustainable and bio-based epoxy systems. The industry demonstrates significant operational agility through integrated manufacturing facilities and robust distribution networks across the country. Strategic moves in the sector primarily revolve around capacity expansions, with several players announcing plans to increase their production capabilities to meet growing domestic demand. Companies are also investing in strengthening their backward integration capabilities, particularly in raw material production, to reduce import dependencies and enhance cost competitiveness.
Partially Fragmented Market with Strong Leaders
The Indian epoxy resins market exhibits a partially fragmented structure, with the top five players commanding approximately half of the market share. The landscape is dominated by large chemical conglomerates that leverage their extensive manufacturing capabilities and established distribution networks to maintain their market positions. These major players benefit from their integrated operations, spanning from raw material procurement to end-product distribution, while smaller players focus on specific applications or regional markets. The market has witnessed significant consolidation through strategic acquisitions and partnerships, particularly among global players seeking to strengthen their presence in the Indian market.
The competitive dynamics are shaped by a mix of domestic manufacturers and international players operating through local subsidiaries or distribution partnerships. Major global companies maintain their presence through sales offices and technical support centers, ensuring strong customer relationships and efficient service delivery. The market has seen increased investment in research and development facilities, with companies establishing dedicated centers for product development and application testing. Recent years have witnessed several strategic acquisitions and capacity expansion projects, indicating the industry's growth potential and attractiveness to both domestic and international investors.
Innovation and Integration Drive Future Success
Success in the Indian epoxy resins market increasingly depends on companies' ability to develop innovative products while maintaining cost competitiveness through operational efficiency. Players are focusing on developing specialized products for high-growth applications such as wind energy, electronics, and advanced composites. The ability to provide technical support and customized solutions has become crucial as end-users demand more sophisticated products. Companies are also investing in sustainable manufacturing practices and eco-friendly product development to align with evolving regulatory requirements and customer preferences.
Market leaders are strengthening their positions through backward integration and capacity expansion, while new entrants are focusing on niche applications and regional markets. The high concentration of end-users in sectors such as construction, automotive, and electronics necessitates strong relationship management and technical service capabilities. While substitution risk from alternative materials exists, epoxy resins maintain their competitive advantage through superior performance characteristics and cost-effectiveness. Future success will largely depend on companies' ability to navigate potential regulatory changes, particularly regarding environmental standards and chemical safety regulations, while maintaining operational efficiency and product innovation.
Epoxy Resin in India Market Leaders
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Huntsman International LLC
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KUKDO CHEMICAL CO. LTD
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Hexion Chemicals India Pvt. Ltd.
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Aditya Birla Chemicals
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Atul Ltd.
- *Disclaimer: Major Players sorted in no particular order
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Epoxy Resin in India Market News
- In February 2022, Hexion Holdings Corporation (Hexion) completed the sale of its epoxy-based Coatings and Composite businesses, which includes the epoxy specialty resins and base epoxy resins and intermediates product lines, for approximately USD 1.2 billion to Westlake Chemical Corporation.
- In April 2021, KUKDO Chemicals expanded its epoxy resins production capacity with the Busan YD-128 new factory construction with an annual capacity of 100,000 tons.
Epoxy Resin in India Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Strong Growth in the Construction Industry
- 4.1.2 Increasing Demand of Adhesives and Sealants in Automotive Industry
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4.2 Restraints
- 4.2.1 Hazardous Impact of Epoxy Resins
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume)
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5.1 Raw Material
- 5.1.1 DGBEA (Bisphenol A and ECH)
- 5.1.2 DGBEF (Bisphenol F and ECH)
- 5.1.3 Novolac (Formaldehyde and Phenols)
- 5.1.4 Aliphatic (Aliphatic Alcohols)
- 5.1.5 Glycidylamine (Aromatic Amines and ECH)
- 5.1.6 Other Raw Materials
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5.2 Application
- 5.2.1 Paints and Coatings
- 5.2.2 Adhesives and sealants
- 5.2.3 Composites
- 5.2.4 Electrical and Electronics
- 5.2.5 Other Applications
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles (Overview, Financials, Products and Services, and Recent Developments)
- 6.4.1 3M
- 6.4.2 Aditya Birla Chemicals
- 6.4.3 Atul Ltd
- 6.4.4 BASF SE
- 6.4.5 Daicel Corporation
- 6.4.6 DuPont
- 6.4.7 KUKDO CHEMICAL CO., LTD.
- 6.4.8 Huntsman International LLC
- 6.4.9 MACRO POLYMERS Pvt Ltd
- 6.4.10 NAN YA PLASTICS CORPORATION
- 6.4.11 Olin Corporation
- 6.4.12 Westlake Corporation (Hexion)
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Growing Adoption of Recyclable And Reformable Epoxy Resins
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 |
Epoxy Resin in India Market Research FAQs
How big is the India Epoxy Resins Market?
The India Epoxy Resins Market size is expected to reach 185.59 kilotons in 2025 and grow at a CAGR of 7.90% to reach 271.43 kilotons by 2030.
What is the current India Epoxy Resins Market size?
In 2025, the India Epoxy Resins Market size is expected to reach 185.59 kilotons.
Who are the key players in India Epoxy Resins Market?
Huntsman International LLC, KUKDO CHEMICAL CO. LTD, Hexion Chemicals India Pvt. Ltd., Aditya Birla Chemicals and Atul Ltd. are the major companies operating in the India Epoxy Resins Market.
What years does this India Epoxy Resins Market cover, and what was the market size in 2024?
In 2024, the India Epoxy Resins Market size was estimated at 170.93 kilotons. The report covers the India Epoxy Resins Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the India Epoxy Resins Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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India Epoxy Resins Market Research
Mordor Intelligence delivers a comprehensive analysis of the epoxy resins industry. We leverage extensive expertise in thermosetting resins and industrial resins research. Our detailed report examines various segments, including epoxy coating, epoxy adhesives, and structural adhesives. It also covers specialized categories such as marine epoxy, aerospace epoxy, and construction epoxy. The analysis encompasses epoxy formulation techniques, epoxy systems, and advanced epoxy polymers. This provides deep insights into high performance resins and their applications.
Stakeholders can download our report PDF, which features an in-depth analysis of bisphenol epoxy and novolac epoxy technologies. It includes a detailed evaluation of epoxy hardener developments. The comprehensive study examines industrial epoxy applications, epoxy composites advancement, and emerging specialty epoxy solutions. Our research covers both traditional epoxide resins and innovative formulations. It offers valuable insights for manufacturers, suppliers, and end-users across the value chain. The report provides actionable intelligence on market dynamics, competitive landscapes, and growth opportunities in the Indian epoxy resins sector.