The forecast from 2024 to 2028 for India's import of petroleum resins and related products shows a steady upward trend. In 2023, imports stood at 78 million USD. Year-on-year growth is projected as follows: 4.07% in 2025, 3.83% in 2026, 3.61% in 2027, and 3.42% in 2028. The compound annual growth rate (CAGR) over the five-year period is approximately 3.71%, indicating moderate but consistent demand growth.
Future trends to watch for include:
- Economic stability and energy policy reforms in India influencing import needs.
- Technological advancements driving resin applications, increasing demand.
- Global crude oil price fluctuations impacting resin cost and competition.
- Emerging alternatives or substitutes that may alter import trends.
