In 2023, India imported 168.65 million kilograms of polyurethanes. Forecasts indicate a steady upward trend in imports. By 2024, imports are expected to reach 176.74 million kilograms and continue to grow annually, hitting 209.1 million kilograms by 2028. Year-on-year variations show consistent growth rates: 4.73% in 2025, 4.42% in 2026, 4.14% in 2027, and 3.91% in 2028. The compound annual growth rate (CAGR) from 2024 to 2028 stands at roughly 4.3%, suggesting strong demand.
Looking ahead, markets should observe:
- Technological advancements enhancing polyurethane applications.
- Sustainability trends influencing material preferences.
- Global economic factors affecting import dynamics.
