Press Release

India Petroleum Resins Market to Cross $ 162 Million by 2023

Rapid growth in paints & coatings industry, rising FDI investments in construction sector and healthy growth in automotive sector to drive India petroleum resins market through 2023

According to TechSci Research report, India Petroleum Resins Market By Type, By Application, By End-Use Industry, Competition, Forecast & Opportunities, 2013 – 2023’’, India petroleum resins market is forecast to reach $ 162 million by 2023, owing to robust growth in the paints & coatings industry, backed by rising demand for commercial set ups and increasing construction of residential complexes across the country. With government’s “Make in India” initiative, foreign direct investments in the construction sector are growing. Several affordable smart city housing projects worth USD2 billion were announced by the government in 2017. Such market developments are expected to drive demand for petroleum resins in India during the forecast period.

Browse 42 market data Figures and Tables spread through 91 Pages and an in-depth TOC on   "India Petroleum Resins Market"


Aliphatic C5 resins segment accounted for the largest share in India petroleum resins market in 2017, owing to its extensive use as an additive in the process of rubber compounding to manufacture vehicle tires as well as automotive dashboards. These resins are also extensively used in the packaging industry. With increasing demand for commercial and passenger vehicles, in addition to growing FMCG sector, the Aliphatic C5 resins segment is expected to continue dominating India petroleum resins market during forecast period. The western region of India is the largest contributor to the country’s petroleum resins market, owing to the presence of numerous automotive and tire manufacturing industries coupled with increasing infrastructural development in the region.

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“Petroleum resins are widely used in various adhesives and sealants as well as a base in the formulation of paints & coatings, as resins like aromatic C9 resins and C5/C9 copolymer resins have greater heat resistance and also help in pigment stability. Moreover, there is growing demand for pressure sensitive adhesives for various applications such as labels, double-sided tapes and surgical tapes, which is boosting demand for petroleum resins. As automobile production in the country grew from 20.6 million units in 2012 to 29 million units in 2017, demand for petroleum resins used for rubber compounding in tire industry has also been growing over the years, and the trend is expected to continue in the coming years as well.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. 

India Petroleum Resins Market By Type, By Application, By End-Use Industry, Competition, Forecast & Opportunities, 2013 – 2023 has evaluated the future growth potential of petroleum resins market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyses the emerging trends along with essential drivers, challenges and opportunities in India petroleum resins market.


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