Published on September 15, 2014

Resins market is experiencing huge growth which is expected to continue in the coming future, mainly driven by the highly growing Asia-Pacific region and intense efforts at the country level to promote environment-friendly products. Some source said that recently Asian economies are growing markets for resins with the investment in construction, marine and wind energy sector.

Industry analyst said that the high demand across the industries such as wind energy and marine will increase overall market demand for resins. Presently resins sector growing with a good velocity due to higher demand from end user industry segments.

This fiscal the resins market has continued to show signs of recovery from the economic downturn, and business from steady business. New construction and existing home sales both up considerably and helped to fuel some growth of this industry in Indian market. Recently manufacturers are working on the higher performance, cost effective and environmentally products which will boost the consumption of this industry from end user industries mainly from paint and coating industry.

Market players said that with increasing number of regulations to promote energy efficient structures and machineries; demand for resins for insulation applications is expected to drive the market growth in near term. They added that increasing disposable income in these developing economies has led to growth in several end user industries such as wood adhesives, construction and adhesive among other.

Industry sources said that increasing use of wood, automotive, adhesives and construction industry is augmenting the consumption of resins in market and due to this demand of related chemicals is also increasing.