India’s Phenol Market To Clock Healthy 8-9% Growth Through FY2030: Crisil

New Delhi: India’s phenol marketplace is anticipated to clock a wholesome 8-9 consistent with cent compound annual enlargement fee from this fiscal thru 2030, outpacing the worldwide marketplace, consistent with a file on Wednesday. 

Domestic intake this fiscal is envisaged at 650 kilo tonnes. The enlargement is perhaps pushed through expanding call for from end-user industries, comparable to automobile and building, which use phenolic resins, stated the file through Crisil Intelligence.

India’s phenol call for is met thru home manufacturing and imports. Over the previous 5 years, home manufacturing has greater persistently, accounting for 60 consistent with cent of annual home intake.

“Alongside ramping up production capacity, phenol manufacturers are integrating downstream products with phenol production, which is likely to support consumption. A decline in global demand and, consequently, dumping of phenol in India, is a concern. Nevertheless, prices are expected to remain stable,” stated Sehul Bhatt, Director-Research, Crisil Intelligence.

Imports have diminished considerably, from assembly 60 consistent with cent of home call for in fiscal 2019 to 40 consistent with cent in fiscal 2024. Looking forward, the access of latest avid gamers is anticipated to additional scale back reliance on imports to 28-30 consistent with cent of home call for through fiscal 2030, the file discussed.

India imports phenol principally from Thailand, adopted through Singapore and Korea. In fiscal 2022, China accounted for 48 consistent with cent of India’s general phenol imports because of restricted home provide and dumping through Chinese exporters.

However, China’s proportion of Indian phenol imports declined to 4 consistent with cent in fiscal 2025 as home manufacturing greater. Moreover, India is diversifying its phenol imports, exploring choice resources comparable to Belgium and Brazil to cut back dependence on a unmarried marketplace.

As of fiscal 2025, India’s phenol exports stand at 17,230 tonnes consistent with annum, which represents 5 consistent with cent of the rustic’s general home manufacturing. India exports most commonly to Asian markets. The United Arab Emirates is a significant export vacation spot.