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Indian UPR Market Trends and Forecast

The future of the Indian UPR market looks promising with opportunities in transportation, wind energy, construction, marine, pipe and tank, aerospace and defense, electrical and electronics, and consumer goods end uses. The Indian UPR market is expected to grow with a CAGR of 6% 2023 to 2030. The major driver for market growth is the low price of unsaturated polyester resin as compared to other resins such as epoxy and vinyl ester.

Indian UPR Market

Most of the Indian UPRs are made from raw materials like glycols (e.g., propylene glycol, diethylene glycol), unsaturated acids or anhydrides (e.g., maleic anhydride, fumaric acid), and saturated acids or anhydrides (e.g., phthalic anhydride, isophthalic acid). To reduce viscosity and enable crosslinking during the curing process, typically a reactive diluent such as styrene monomer is used. Additionally, there are inhibitors (such as hydroquinone) used to control the polymerization process and fillers or additives in order to improve particular properties of resins. Typically, Indian unsaturated polyester resin (UPR) is favorably priced compared to other markets. Its lower manufacturing costs and availability of raw materials locally sometimes give Indian UPR a cost advantage. It should be noted that prices can fluctuate among different grades of resins in the market depending on quality and specific applications when compared with international counterparts.
  • Lucintel forecasts that construction will remain the largest segment and wind energy is expected to witness highest growth over the forecast period due to its various advantage like; corrosion resistance, high strength-to-weight ratio, low maintenance, and a longer lifecycle as compared to other traditional materials.


Country wise Outlook for the Indian UPR Market

The Indian UPR market is witnessing substantial growth. Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. Below image highlights recent developments by major Indian UPR producers in key region the India.

Indian UPR Market by Country

Emerging Trends in the Indian UPR Market

Emerging trends in the Indian UPR market shaping its future applications and market dynamics:
 
  • Growth in Automotive Sector: The increase of UPR use in car applications was because of its being light and long lasting, leading to the growth of the automotive sector.
  • Infrastructure Development: Building materials demand for UPR-based composites has been boosted by increasing construction activities.
  • Technological Advances: Advanced UPR formulations have been developed to improve performance and cater for specific applications.
  • Regulatory Changes: Stringent environmental regulations have forced investment in low-VOC and non-toxic UPR products.

Indian UPR Market Emerging Trend

A total of 42 figures / charts and 30 tables are provided in this 125-page report to help in your business decisions. A sample figure with insights is shown below.
Indian UPR Market by Segments

Recent Developments by the Indian UPR Market

Recent developments in Indian UPR market by various companies highlight ongoing innovations and advancements across different sectors:
  •  Biodegradable Polymers: Production of biodegradable unsaturated polyester resins (UPRs) to address growing ecological concerns.
  • Technological Innovations: Enhancements in UPR formulations to improve performance like better fire retardancy and mechanical properties.
  • Expansion of Capacity: Leading companies raise output levels due to a growing domestic and export demand.
  • Collaboration Strategies: Alliances or partnerships with global companies for obtaining cutting edge technologies and expanding market presence.
  • Emerging Engineering Applications: Expansion into new application areas: renewable energy, particularly wind turbine blades and solar panel components.

Strategic Growth Opportunities for Global Indian UPR Market

The Indian UPR market is very dynamic due to its unique properties of being lightweight, strong and thermally stable. Some key strategic growth opportunities for this market include:
Sustainability and Green Solutions
  • Bio-based UPRs: Investing in research and development of bio-based unsaturated polyester resins can respond to the need for environmentally friendly materials.
  • Recycling Initiatives: Introduction of recycling schemes for UPR composites can help reduce environmental impact and save costs.
Automotive Industry Expansion
  • Lightweight Components: Designing light weight components using UPR for automotive industry, so as to enhance fuel economy and reduce emissions.
  • Electric Vehicles: Entering the electric vehicle market by supplying composites made from UPR for battery enclosures and lightweight structures.
 Construction and Infrastructure Development
  •  Smart City Projects: Nurturing growth of smart cities in India by offering sustainable UPR based construction materials that are also durable and lightweight.
  • High-Performance Resins: Creating high performance UP resins for use in infrastructure such as bridges, highways among others thus increasing lifespan and reducing maintenance costs
 Renewable Energy Sector
  •  Wind Energy: Supplying wind turbine blades made of UPR composites to support the rapid growth of renewable energy sector in India.
  • Solar Panels: Developing solar panel housings using UPR based materials.
 Technological Innovation and Product Diversification
  •  Advanced Formulations: Investment on advanced fire resistant, chemical resistant, mechanically stronger formulations; these properties make these resins more suitable than others in a number of applications
  • Customization: Customizing made-to-order resin solutions for specific sectors viz. marine, aerospace among others.
 Market Expansion and Export Opportunities
  •  Global Partnerships: Striking strategic partnership with international companies to expand market footprints on new technology frontiers.
  • Emerging Markets: Exploring emerging markets in Asia , Africa ,and Latin America that will open up Indian products to exports thus increasing export opportunities of Indian UPR products.
Regulatory and Compliance Adherence
  •  Low-VOC Resins: Producing low volatile organic compounds (VOCs)upr conforming with stricter ecological rules .
  • Safety Standards: Compliance of UPR products with international safety and performance standards to stay competitive.
 Capacity Building and Technological Upgradation
  •  Manufacturing Efficiency: To enhance manufacturing efficiency, we need to invest into new modern manufacturing technologies that will assist in production cost reduction.
  •  R&D Facilities: Setting up cutting-edge research and development facilities for advancing innovation and creating new generation of UPR products
 Customer Engagement and Service Excellence
  • Technical Support: Giving robust technical support backed by strong after-sales service, which is fundamental for improved customer satisfaction and loyalty.
  • Training Programs: The programs are meant to train customers as well as industry practitioners about the advantages plus applications of unsaturated polyester resin materials

Indian UPR Market Drivers and Challenges

The Indian UPR market is pivotal in industries requiring corrosion-resistant storage solutions. Driven by benefits like durability and design flexibility, it faces challenges such as high initial costs and logistical complexities. This discussion explores key drivers propelling its growth and significant challenges hindering broader market adoption.
The key drivers for the Indian UPR market include:
  1. Infrastructure Development: Rapid urbanization and government initiatives such as Smart Cities Mission are acting as catalysts for the increasing demand of UPR based construction materials due to their durability and cost-effectiveness. The expenditure on infrastructure projects including bridges, highways and buildings is significantly driving up the UPR market.
  2. Automotive Industry Growth: Growing automotive industry in India propelled by rising vehicle production and demand for lighter fuel efficient vehicles is escalating use of UPR composites in manufacturing automotive parts. These lighter material shifts support improvements in fuel efficiency and reduced emissions.
  3. Renewable Energy Expansion: Growth in renewable energy particularly wind and solar power is increasing the demand for UPR composites used in wind turbine blades and solar panel components. Further, support from the Indian Government for renewable energy targets is also helping this segment grow.
 The challenges in the Indian UPR market include:
  1. Environmental Concerns: Traditional UPRESs when produced or used pose significant environmental problems and health risks due to emission of Volatile Organic Compounds (VOCs) as well as hazardous chemicals. There have been increasingly stringent environmental regulations and public awareness leading to industry’s desire for eco-friendly alternatives which may be more costly and technologically challenging.
  2. Raw Material Price Volatility: The Indian UPR market is exposed to price fluctuations associated with raw materials like styrene an glycol where such movements impact on production costs as well as profit margins. Additionally companies face global supply chain disruptions, foreign currency exchange rates changes bringing about uncertainty, financial pressure on manufacturers through dependence by some raw inputs that are imported into India.
 
The UPR market in India is aided by the development of robust infrastructure and the automotive sector, as well as renewable energy growth; nevertheless, it confronts obstacles from environmental concerns and fluctuations in the prices of raw materials. The critical drivers are innovation in green UPR formulations and technology upgrade. At the same time, maintaining cost effective production while adhering to strict environmental regulations is a major challenge.

Indian UPR Suppliers and Their Market Shares

In this Indian competitive market, several key players such as Polynt Group, AOC (Nippon Paint Holdings Co. Ltd., INEOS Composites (KPS Capital), and Reliance Industries Limited etc. dominate the market and contribute to industry’s growth and innovation. These players capture maximum market share. To know the current market share of each of major players, contact us.
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies Indian UPR companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the Indian UPR companies profiled in this report include.
  • Polynt Group
  • AOC (Nippon Paint Holdings Co. Ltd.)
  • INEOS Composites (KPS Capital)
  • Reliance Industries Limited
  • Scott Bader Pvt. Ltd.
  • Natural Petrochemicals Pvt. Ltd.
These companies have established themselves as leaders in the Indian UPR market, with extensive product portfolios, Indian presence, and strong research and development capabilities. They continually strive to enhance their market positions through strategic partnerships, mergers and acquisitions, and product innovations.
The market share dynamics within the Indian UPR market are evolving, with the entry of new players and the emergence of innovative Indian UPR market technologies. Additionally, collaborations between material suppliers, manufacturers, and end-users are fostering technological advancements and expanding market opportunities.

Indian UPR Market by Segment

The construction and infrastructure sector is one of the major growth areas for the Indian UPR market, owing to increased urbanization as well as government projects. The automotive industry serves lightweight as well as fuel-efficient cars. While wind and solar power depends on durable and lightweight composites, the renewable energy sector demands them too. Also, corrosion-resistant properties are why marine and transportation sectors are increasingly adopting UPR materials. The study includes a forecast for the Indian UPR market by end use as follows:

Indian UPR Market by End Use [Value ($M) and Volume (M lbs) Analysis for 2018 – 2030]:

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Features of Indian UPR Market

  • Market Size Estimates: Indian UPR market size estimation in terms of value ($M) and volume (M lbs).
  • Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments.
  • Segmentation Analysis: Market size by end use.
  • Growth Opportunities: Analysis of growth opportunities in different end use for the Indian UPR market.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape for the Indian UPR market.
  • Analyse de l'intensité concurrentielle de l'industrie basée sur le modèle des cinq forces de Porter.

If you are looking to expand your business in Indian UPR or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, Fusions et acquisitions, and more.

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FAQ

Q1. What is the growth forecast for Indian UPR market?
Answer: The Indian UPR market is expected to grow at a CAGR of 6% from 2023 to 2030.
Q2. What are the major drivers influencing the growth of the Indian UPR market?
Answer: The major driver for market growth is the low price of unsaturated polyester resin as compared to other resins such as epoxy and vinyl ester.
Q3. What are the major applications or end use industries for Indian UPR?
Answer: Construction and pipe and tank are the major end uses for Indian UPR.
Q4. What are the emerging trends in Indian UPR market?
Answer: Emerging trends, which have a direct impact on the dynamics of the Indian UPR market, includes growth in automotive sector, infrastructure development, technological advances, and regulatory changes.
Q5. Who are the key Indian UPR companies?
Answer: Some of the key Indian UPR companies are Polynt Group, AOC (Nippon Paint Holdings Co. Ltd.), Ineos Composites (KPS Capital Parnters), Reliance Industries Limited, Scott Bader, Natural Petrochemicals Pvt. Ltd. etc.
Q6. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

Ce rapport répond à la suite de 11 questions clés

Q.1 What are some of the most promising potential, high growth opportunities for the Indian UPR market by end use (transportation, wind energy, construction, marine, pipe and tank, aerospace & defense, electrical and electronics, consumer goods, and others)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.4 What are the business risks and threats to the market?
Q.5 What are the emerging trends in this market and the reasons behind them?
Q.6 What are the changing demands of customers in the market?
Q.7 What are the new developments in the market? Which companies are leading these developments?
Q.8 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.9 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.10 What M & A activities have taken place in the last 5 years in this market?


 
Table des matières
1. Executive Summary

2. Indian UPR Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges

3. Market Trends and Forecast Analysis from 2018 to 2030
3.1: Macroeconomic Trends and Forecasts
3.2: Indian UPR Market Trends and Forecast
3.3 Indian UPR Market by End Use
3.3.1: Transportation
3.3.2: Wind Energy
3.3.3: Construction
3.3.4: Marine
3.3.5: Pipe & Tank
3.3.6: Aerospace & Defense
3.3.7: Electrical & Electronics
3.3.8: Others

4. Competitor Analysis
4.1: Product Portfolio Analysis
4.2: Operational Integration
4.3: Geographical Reach
4.4: Porter’s Five Forces Analysis

5. Growth Opportunities and Strategic Analysis
5.1: Growth Opportunity Analysis
5.1.1: Growth Opportunities for the Indian UPR Market by End Use
5.2: Emerging Trends in the Indian UPR Market
5.3: Strategic Analysis
5.3.1: New Product Development
5.3.2: Capacity Expansion
5.3.3: Mergers and Acquisitions

6. Company Profiles of Leading Players
6.1: Polynt Group
6.2: AOC (Nippon Paint Holdings Co. Ltd.)
6.3: Ineos Composites (KPS Capital Partners)
6.4: Reliance Industries Limited
6.5:Scott Bader
6.6: Natural Petrochemicals Pvt. Ltd.
 
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LucIntel est dans le domaine des études de marché et de la gestion depuis 2000 et a publié plus de 1000 rapports de renseignement sur le marché sur divers marchés / applications et a servi plus de 1 000 clients dans le monde. Cette étude est un point culminant de quatre mois d'efforts à temps plein réalisés par l'équipe d'analystes de Lucintel. Les analystes ont utilisé les sources suivantes pour la création et l'achèvement de ce précieux rapport:
  • Interviews approfondies des principaux acteurs de ce marché
  • Des recherches secondaires détaillées des états financiers des concurrents et des données publiées 
  • Des recherches approfondies des travaux publiés, du marché et des informations sur la base de données concernant les actualités de l'industrie, les communiqués de presse de l'entreprise et les intentions des clients
  • Une compilation des expériences, des jugements et des idées des professionnels de Lucintel, qui ont analysé et suivi ce marché au fil des ans.
Des recherches approfondies et des entretiens sont menées dans toute la chaîne d'approvisionnement de ce marché pour estimer la part de marché, la taille du marché, les tendances, les moteurs, les défis et les prévisions. Vous trouverez ci-dessous un bref résumé des entretiens principaux qui ont été menés par la fonction de travail pour ce rapport.
 
Ainsi, LucIntel compile de grandes quantités de données provenant de nombreuses sources, valide l'intégrité de ces données et effectue une analyse complète. LucIntel organise ensuite les données, ses résultats et ses informations sur un rapport concis conçu pour soutenir le processus de prise de décision stratégique. La figure ci-dessous est une représentation graphique du processus de recherche de Lucintel. 
 

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