As of 2023, the import of epoxide resins to India stood at approximately 58 million kilograms. Forecasts predict a steady increase, reaching 65.994 million kilograms by 2028. Year-on-year growth suggests a modest yet consistent upward trend: 2.47% in 2024, 2.46% in 2025, 2.42% in 2026, 2.26% in 2027, and 2.17% in 2028. The compound annual growth rate (CAGR) over this five-year period is projected at around 2.36%, indicating stable demand growth in the Indian market.
Future trends to watch for include:
- Development of infrastructure and automotive sectors, which heavily utilize epoxide resins.
- Potential fluctuations in global oil prices affecting production costs.
- Shifts in environmental regulations influencing resin production and imports.
- Technological advancements leading to newer applications of epoxide resins.