India Epoxy Resin Market Size, Share, and Growth Forecast for 2025 - 2032

Q: How Big is the India Epoxy Resin Market in 2025?

The India epoxy resin market is projected to reach US$ 730.7 Mn in 2025.

Q: What is the Growth Rate for India Epoxy Resin Market?

The market is poised to witness a CAGR of 6.3% from 2025 to 2032.

India Epoxy Resin Market by Raw Material (DGEBA, DGBEF, Novolac, Aliphatic, Glycidylamine), by Application (Paints and Coatings, Composites, Adhesives and Sealants, Electrical and Electronics), and Analysis for 2025 - 2032

ID: PMRREP35279

May 2025

170 Pages

Author : Rajat Zope

Chemicals and Materials

India Epoxy Resin Market Size and Trends

The India epoxy resin market size is predicted to reach US$ 1,120.7 Mn in 2032 from US$ 730.7 Mn in 2025. It will likely witness a CAGR of around 6.3% in the forecast period between 2025 and 2032.

India is estimated to see steady growth in the foreseeable future due to ongoing infrastructure development plans and implementation of favorable industrial policies. The government’s target to achieve US$ 1 Tn in manufactured products exports, rolled out in August 2021, has already created a strong framework for the growth of the manufacturing sector. This goal has specifically benefited epoxy resins companies with high demand from a wide range of end-use industries.

India epoxy resin market outlook, 2019-2032

Key Industry Highlights

South India is predicted to generate 32.1% share in 2025 with robust growth in renewable energy, especially wind power in Tamil Nadu and Andhra Pradesh.
DGEBA segment is poised to account for 66.2% share in 2025 as it provides excellent mechanical, chemical, and thermal resistance, making it ideal for diverse industrial applications.
Paints and coatings are expected to hold 54.7% share in 2025 due to the implementation of government norms promoting low-VOC and high-performance coatings.
Rising electric vehicle production in India is projected to surge the use of epoxy resins in battery components and electrical insulation.
Untapped potential in packaging and marine coating segments will likely offer room for innovation and diversification.

Market Attribute	Key Insights
India Epoxy Resin Market Size (2025E)	US$ 730.7 Mn
Market Value Forecast (2032F)	US$ 1,120.7 Mn
Projected Growth (CAGR 2025 to 2032)	6.3%
Historical Market Growth (CAGR 2019 to 2024)	5.7%

Market Dynamics

Driver - Increasing Investments in Wind Energy Projects to Spur Demand

Ongoing development of the renewable energy sector is expected to propel the India epoxy resin market growth through 2032. Epoxy resins are considered significant for the production of wind turbine blades. This is due to their superior dimensional stability, corrosion resistance, and mechanical strength. Rising investments in wind energy development projects across the country are predicted to augment demand.

The country’s wind energy capacity experienced a steady surge in 2024, with India adding 3.42 GW (gigawatt), bringing the total to 48.16 GW. This is attributed to constant efforts of state distribution firms to meet the renewable purchase obligations. Tamil Nadu, Karnataka, and Gujarat, for example, accounted for nearly 98% of the new wind capacity installed in 2024. Hence, the surging focus on wind energy will likely boost epoxy resin demand in this sector.

Restraint - Shift of industries toward low- and zero-VOC alternatives

A gradual shift of consumers toward low-volatile organic compound (VOC) and zero-VOC products is speculated to hamper epoxy resin sales to a certain extent. This is particularly evident in the chemical industry, where regulatory pressures and environmental concerns are compelling both manufacturers and consumers to adopt more sustainable alternatives.

The Government of India has implemented stringent norms revolving around the usage of toxic chemicals, including bisphenol A (BPA). It is considered a significant component in conventional epoxy resins. The move toward lowering VOCs and other hazardous emissions has resulted in a high demand for alternatives across industries. Sectors such as construction and automotive, for instance, are increasingly adopting low-VOC and waterborne epoxy formulations. However, even though these are eco-friendly, their high costs are anticipated to deter price-sensitive consumers.

Opportunity - Surging use in medical device manufacturing, mainly in prosthetics

Epoxy resin manufacturers are poised to bag new opportunities from the medical device sector in India. The chemical is extensively being used in medical device manufacturing, backed by their ability to form precise components, high chemical resistance, and mechanical properties. It is mainly valued in implants and prosthetics as these require high strength and biocompatibility.

The versatility of epoxy resins further allows for the development of customized solutions catering to specific medical applications. Innovations such as bio-based epoxy resins and those with improved biocompatibility are being investigated to fulfill the evolving demands of the medical device industry. This is anticipated to create lucrative opportunities for research and development activities, enabling companies to differentiate their products in a competitive market.

Get Your CustomizationGet Your Customization

Category-wise Analysis

Raw Material Insights

Based on raw material, the market is divided into DGEBA, DGBEF, novolac, aliphatic, and glycidylamine. Among these, the DGEBA segment is poised to account for a share of around 66.2% in 2025. This is attributed to its increasing use across several industries and versatile properties. DGEBA is extensively used in the manufacturing of composites, adhesives, coatings, and paints, especially for industrial and construction applications. These are highly preferred for their superior adhesion capabilities, chemical resistance, and mechanical properties.

DGBEF, on the other hand, will likely experience steady growth through 2032, due to its surging use in applications requiring improved chemical resistance and lower viscosity. Novolac resins have also found usage in high-temperature environments and applications requiring superior chemical resistance. Aliphatic resins are further estimated to find use in settings requiring high UV stability and weather resistance. Lastly, glycidylamine resins are speculated to be used in the aerospace and defense sector owing to their high temperature resistance.

Application Insights

In terms of application, the market is segregated into paints and coatings, composites, adhesives and sealants, and electrical and electronics. Out of these, paints and coatings are projected to lead with 54.7% of India epoxy resin market share in 2025. This is attributed to increasing use of epoxy resin-based formulations in multiple coating applications, right from decorative paints to protective industrial coatings. Growth of the segment is also spurred by the booming construction industry of India with increasing smart city projects initiated by the government.

The composites segment is poised to showcase a significant CAGR through 2032, owing to rising adoption in the aerospace and defense sector as well as energy installations. The electrical and electronics segment is also expected to exhibit decent growth, on the back of the rising electronics manufacturing ecosystem in the country. It is mainly supported by initiatives such as the Production Linked Incentive (PLI) scheme and Digital India.

India epoxy resin market insights and key trends

Regional Insights

West India Epoxy Resin Market Trends

West India is considered a key hub for various industries that are leading consumers of epoxy resins. For example, Maharashtra is a significant industrial hub of West India, with cities, including Pune and Mumbai housing several electronics companies, automakers, and manufacturing plants. The automotive industry in Maharashtra has witnessed a notable surge in epoxy resin demand, as these are considered integral in automotive adhesives and coatings.

The automotive industry witnessed a production increase of 4% year-on-year in Maharashtra in 2024 alone, thereby bolstering demand for epoxy resin-based solutions. Gujarat, on the other hand, is speculated to see steady growth with the presence of a well-established chemical manufacturing infrastructure. Epoxy resins are being used for laminates, adhesives, and coatings in the state, specifically in the electronics, construction, and petrochemical industries.

North India Epoxy Resin Market Trends

In North India, states such as Uttar Pradesh and Haryana are expected to remain at the forefront of growth due to the presence of large-scale automotive manufacturing units. Maruti Suzuki, one of the most significant vehicle manufacturers in India, has a production facility in Haryana, contributing to the increasing demand for epoxy resins. Automotive production in the state rose by 6% in 2024, bolstering demand for these chemicals as they are used in high-performance coatings for corrosion resistance.

In Lucknow, Chandigarh, and Delhi, ongoing infrastructure development activities are predicted to create a high demand for epoxy resins. For instance, Delhi’s metro expansion plan, which aims to add more than 100 kilometers of tracks by 2025, is constantly pushing demand. Epoxy resins are being used in protective treatments, coatings, and flooring across these projects as they are exposed to extreme weather conditions and high traffic.

South India Epoxy Resin Market Trends

South India is assessed to generate a share of nearly 32.1% in 2025. States in this region, especially Andhra Pradesh and Tamil Nadu, have showed steady growth in the renewable energy sector. Tamil Nadu, for example, has become a significant state for wind energy, contributing to more than 15% of India’s total wind power capacity. The high durability and strength of epoxy resins have made these ideal for the manufacturing of wind turbine blades.

Ongoing development of the electronics and electrical sectors in cities, such as Hyderabad and Bengaluru, is further anticipated to create new opportunities in South India. Epoxy resins are considered important for the manufacturing of encapsulants and Printed Circuit Boards (PCBs) owing to their superior electrical insulation properties. In addition, the rising demand for automotive electronics, telecommunications, and consumer electronics is estimated to spur epoxy resin sales.

Request Free sampleRequest Free sample

Competitive Landscape

The India epoxy resin market houses both international and domestic companies competing for high shares. Leading companies are focusing on innovating existing product portfolios with new research and development facilities. They are mainly planning to develop bio-based and sustainable epoxy solutions for a wide range of industries. Some of the other companies are embracing the collaboration strategy to co-develop new products in the market. A few renowned players are investing huge sums in the development of new manufacturing facilities across India.

Key Industry Developments

In January 2025, Adani New Industries Ltd. and Swancor Holding Co., Ltd. announced a collaboration to develop India’s first recyclable wind farm. By 2025, Adani is estimated to complete certification for Swancor’s SWANCOR EzCiclo recyclable epoxy resin system.
In March 2024, Grasim Industries Limited inaugurated the expansion project of 123,000 tons of epoxy resins and formulation capacity in Gujarat. This project would help increase the total capacity of advanced materials to 246,000 tons per annum.
In February 2024, DCM Shriram declared an investment of Rs. 1,000 crores over the next few years to develop a greenfield plant to produce epoxy resin. The company is planning to set up its plant in Gujarat and aims to extend its presence in the advanced materials segment with this development.

Companies Covered in India Epoxy Resin Market

3M
Aditya Birla Chemicals
BASF SE
Atul Ltd.
Daicel Corporation
DuPont
Huntsman International LLC
KUKDO CHEMICAL CO., LTD.
MACRO POLYMERS Pvt Ltd.
Westlake Corporation (Hexion)
Olin Corporation
NAN YA PLASTICS CORPORATION
Others

Frequently Asked Questions

The India epoxy resin market is projected to reach US$ 730.7 Mn in 2025.

Increasing production of wind turbine blades and the implementation of favorable industrial policies are the key market drivers.

The market is poised to witness a CAGR of 6.3% from 2025 to 2032.

Surging investments in public transportation network upgradation and increasing production of medical devices are the key market opportunities.

3M, Aditya Birla Chemicals, and BASF SE are a few key market players.

Top-Down Market Sizing	Bottom-Up Market Sizing
Universe Definition: Total global/regional market identification	Unit Economics: Average transaction values, purchase frequencies, customer lifecycle
Segmentation Filters: Geographic, demographic, and behavioral constraints	Customer Segmentation: Detailed buyer persona development and sizing
Market Share Analysis: Competitive landscape assessment and share allocation	Penetration Analysis: Market penetration rates by segment and geography
Growth Rate Application: Historical trends and forward-looking growth assumptions	Scaling Methodology: Extrapolation techniques with confidence intervals

Interested in this report?

Request customization, ask for expert consulting, access a sample report, or simply express your interest—our team will assist you with the right insights and solutions.

Request Custom VersionRequest Custom Version

Clients

Media Citation

Get In Touch

Loading page data

Please wait a moment

Executive Summary
1. India Epoxy Resin Market Snapshot, 2025 and 2032
2. Market Opportunity Assessment, 2025 - 2032, US$ Mn
3. Key Market Trends
4. Future Market Projections
5. Premium Market Insights
6. Industry Developments and Key Market Events
7. PMR Analysis and Recommendations
Market Overview
1. Market Scope and Definition
2. Market Dynamics
  1. Drivers
  2. Restraints
  3. Opportunity
  4. Key Trends
3. COVID-19 Impact Analysis
4. Forecast Factors - Relevance and Impact
Value Added Insights
1. Product Demand Analysis
2. Regulatory Landscape
3. List of Key Players
4. Porter’s Five Forces Analysis
5. PESTLE Analysis
6. Promotional Strategies by Key Players
India Epoxy Resin Market Outlook
1. Key Highlights
  1. Market Size (US$ Mn) and Y-o-Y Growth
  2. Absolute $ Opportunity
2. Market Size (US$ Mn) Analysis and Forecast
  1. Historical Market Size (US$ Mn) Analysis, 2019-2024
  2. Current Market Size (US$ Mn) Analysis and Forecast, 2025 - 2032
3. India Epoxy Resin Market Outlook: Raw Material
  1. Introduction / Key Findings
  2. Historical Market Size (US$ Mn) Analysis, By Raw Material, 2019 - 2024
  3. Current Market Size (US$ Mn) Analysis and Forecast, By Raw Material, 2025 - 2032
    1. 1. DGEBA (Bisphenol A and ECH)
      2. DGBEF (Bisphenol F and ECH)
      3. Novolac (Formaldehyde and Phenols)
      4. Aliphatic (Aliphatic Alcohols)
      5. Glycidylamine (Aromatic Amines and ECH)
      6. Others
  4. Market Attractiveness Analysis: Raw Material
4. India Epoxy Resin Market Outlook: Application
  1. Introduction / Key Findings
  2. Historical Market Size (US$ Mn), By Application, 2019 - 2024
  3. Current Market Size (US$ Mn) Analysis and Forecast, By Application, 2025 - 2032
    1. Paints and Coatings
    2. Composites
    3. Adhesives and Sealants
    4. Electrical and Electronics
    5. Others
  4. Market Attractiveness Analysis: Application
India Epoxy Resin Market Outlook: Region
1. Key Highlights
2. Historical Market Size (US$ Mn) Analysis, By Region, 2019 - 2024
3. Current Market Size (US$ Mn) Analysis and Forecast, By Region, 2025 - 2032
  1. North India
  2. West India
  3. South India
  4. East India
4. Market Attractiveness Analysis: Region
North India Epoxy Resin Market Outlook
1. Key Highlights
2. Historical Market Size (US$ Mn) Analysis, By Market, 2019 - 2024
  1. By State
  2. By Raw Material
  3. By Application
3. Current Market Size (US$ Mn) Analysis and Forecast, By State, 2025 - 2032
  1. Himachal Pradesh
  2. Uttarakhand
  3. Haryana
  4. Punjab
  5. Uttar Pradesh
  6. Rajasthan
  7. Jammu and Kashmir
4. Current Market Size (US$ Mn) Analysis and Forecast, By Raw Material, 2025 - 2032
  1. DGEBA (Bisphenol A and ECH)
  2. DGBEF (Bisphenol F and ECH)
  3. Novolac (Formaldehyde and Phenols)
  4. Aliphatic (Aliphatic Alcohols)
  5. Glycidylamine (Aromatic Amines and ECH)
  6. Others
5. Current Market Size (US$ Mn) Analysis and Forecast, By Application, 2025 - 2032
  1. Paints and Coatings
  2. Composites
  3. Adhesives and Sealants
  4. Electrical and Electronics
  5. Others
6. Market Attractiveness Analysis
West India Epoxy Resin Market Outlook
1. Key Highlights
2. Historical Market Size (US$ Mn) Analysis, By Market, 2019 - 2024
  1. By State
  2. By Raw Material
  3. By Application
3. Current Market Size (US$ Mn) Analysis and Forecast, By State, 2025 - 2032
  1. Gujarat
  2. Maharashtra
  3. Goa
  4. Madhya Pradesh
4. Current Market Size (US$ Mn) Analysis and Forecast, By Raw Material, 2025 - 2032
  1. DGEBA (Bisphenol A and ECH)
  2. DGBEF (Bisphenol F and ECH)
  3. Novolac (Formaldehyde and Phenols)
  4. Aliphatic (Aliphatic Alcohols)
  5. Glycidylamine (Aromatic Amines and ECH)
  6. Others
5. Current Market Size (US$ Mn) Analysis and Forecast, By Application, 2025 - 2032
  1. Paints and Coatings
  2. Composites
  3. Adhesives and Sealants
  4. Electrical and Electronics
  5. Others
6. Market Attractiveness Analysis
South India Epoxy Resin Market Outlook
1. Key Highlights
2. Historical Market Size (US$ Mn) Analysis, By Market, 2019 - 2024
  1. By State
  2. By Raw Material
  3. By Application
3. Current Market Size (US$ Mn) Analysis and Forecast, By State, 2025 - 2032
  1. Andhra Pradesh
  2. Telangana
  3. Karnataka
  4. Kerala
  5. Tamil Nadu
4. Current Market Size (US$ Mn) Analysis and Forecast, By Raw Material, 2025 - 2032
  1. DGEBA (Bisphenol A and ECH)
  2. DGBEF (Bisphenol F and ECH)
  3. Novolac (Formaldehyde and Phenols)
  4. Aliphatic (Aliphatic Alcohols)
  5. Glycidylamine (Aromatic Amines and ECH)
  6. Others
5. Current Market Size (US$ Mn) Analysis and Forecast, By Application, 2025 - 2032
  1. Paints and Coatings
  2. Composites
  3. Adhesives and Sealants
  4. Electrical and Electronics
  5. Others
6. Market Attractiveness Analysis
East India Epoxy Resin Market Outlook
1. Key Highlights
2. Historical Market Size (US$ Mn) Analysis, By Market, 2019 - 2024
  1. By State
  2. By Raw Material
  3. By Application
3. Current Market Size (US$ Mn) Analysis and Forecast, By State, 2025 - 2032
  1. Bihar
  2. West Bengal
  3. Chhattisgarh
  4. Odisha
  5. Jharkhand
4. Current Market Size (US$ Mn) Analysis and Forecast, By Raw Material, 2025 - 2032
  1. DGEBA (Bisphenol A and ECH)
  2. DGBEF (Bisphenol F and ECH)
  3. Novolac (Formaldehyde and Phenols)
  4. Aliphatic (Aliphatic Alcohols)
  5. Glycidylamine (Aromatic Amines and ECH)
  6. Others
5. Current Market Size (US$ Mn) Analysis and Forecast, By Application, 2025 - 2032
  1. Paints and Coatings
  2. Composites
  3. Adhesives and Sealants
  4. Electrical and Electronics
  5. Others
6. Market Attractiveness Analysis
Competition Landscape
1. Market Share Analysis, 2024
2. Market Structure
  1. Competition Intensity Mapping By Market
  2. Competition Dashboard
3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
  1. 3M
    1. Overview
    2. Segments and Raw Materials
    3. Key Financials
    4. Market Developments
    5. Market Strategy
  2. Aditya Birla Chemicals
  3. BASF SE
  4. Atul Ltd.
  5. Daicel Corporation
  6. DuPont
  7. Huntsman International LLC
  8. KUKDO CHEMICAL CO., LTD.
  9. MACRO POLYMERS Pvt Ltd.
  10. Westlake Corporation (Hexion)
  11. Olin Corporation
  12. NAN YA PLASTICS CORPORATION
  13. Others
Appendix
1. Research Methodology
2. Research Assumptions
3. Acronyms and Abbreviations

Report Attribute	Details
Historical Data/Actuals	2019 - 2024
Forecast Period	2025 - 2032
Market Analysis Units	Value: US$ Bn/Mn, Volume: As Applicable
Geographical Coverage	North India West India South India East India
Segmental Coverage	Raw Material Application Region
Competitive Analysis	3M Aditya Birla Chemicals BASF SE Atul Ltd. Daicel Corporation DuPont Huntsman International LLC KUKDO CHEMICAL CO., LTD. MACRO POLYMERS Pvt Ltd. Westlake Corporation (Hexion) Olin Corporation NAN YA PLASTICS CORPORATION Others
Report Highlights	Market Forecast and Trends Competitive Intelligence and Share Analysis Growth Factors and Challenges Strategic Growth Initiatives Pricing Analysis Future Opportunities and Revenue Pockets Market Analysis Tools
Customization and Pricing	Available upon request

Report Attribute	Details
Historical Data/Actuals	2019 - 2024
Forecast Period	2025 - 2032
Market Analysis Units	Value: US$ Bn/Mn, Volume: As Applicable
Geographical Coverage	North India West India South India East India
Segmental Coverage	Raw Material Application Region
Competitive Analysis	3M Aditya Birla Chemicals BASF SE Atul Ltd. Daicel Corporation DuPont Huntsman International LLC KUKDO CHEMICAL CO., LTD. MACRO POLYMERS Pvt Ltd. Westlake Corporation (Hexion) Olin Corporation NAN YA PLASTICS CORPORATION Others
Report Highlights	Market Forecast and Trends Competitive Intelligence and Share Analysis Growth Factors and Challenges Strategic Growth Initiatives Pricing Analysis Future Opportunities and Revenue Pockets Market Analysis Tools
Customization and Pricing	Available upon request

India Epoxy Resin Market Size, Share, and Growth Forecast for 2025 - 2032