India Phenolic Resins Market Size, Share, By Product (Novolac, Resol, Solid Resol Resin, Liquid Resol Resin, And Others), By Application (Molding, Paper Impregnation, Wood Adhesives, Coatings, Insulations, Laminates, And Others), And India Phenolic Resins Market Size Insights, Industry Trend, Forecasts to 2035

India Phenolic Resins Market Size Insights Forecasts to 2035

• India Phenolic Resins Market Size 2024: USD 1301.7 Mn
• India Phenolic Resins Market Size 2035:  USD 2574.4 Mn
• India Phenolic Resins Market Size CAGR 2024: 6.4%
• India Phenolic Resins Market Size Segments: Product and Application

The India Phenolic Resin Market Size encompasses the manufacturing, distributing, and utilization of phenolic resin thermoset polymers that are created through the polymeric condensation of phenol and formaldehyde. They enjoy superior thermal resistance, good mechanical strength, flame resistance, and high adhesive strength. Their application spans a wide range of end-use industries, including wood-based products such as plywood, Laminates, engineered wood, automotive parts, electrical & electronic components and various manufacturing processes from abrasive materials to foundry binder material.

The phenolic resins in India are backed by government support, including the Make in India 2.0 initiative, which aims to strengthen domestic manufacturing capabilities across key sectors including chemicals and advanced materials. Government budget allocations for affordable housing schemes like the Pradhan Mantri Awas Yojana (PMAY) were increased significantly, with outlays reaching over INR 79,000 crore in 2023–24, stimulating real estate development, plywood, laminates, and associated wood product industries that depend on phenolic adhesive and binder systems.

As technology advances, Indian phenolic resins providers are now using new technologies related to resin formulation and manufacturing processes, manufacturers of resins and resin-based products will produce products that are high performance, low in emissions, and in compliance with environmental regulations and quality standards including new resins with low emissions and controlled levels of formaldehyde, new methods for manufacturing resins that produce more consistent product characteristics for specific applications, as well as manufacturing processes that include digital quality monitoring, process automation, and research into sustainable materials. Each of these types of technological enhancements will improve manufacturers' competitiveness and help them meet their customers' changing demands.

Market Dynamics of the India Phenolic Resins Market Size:

 The India Phenolic Resins Market Size is driven by the rapid growth in construction and infrastructure projects, increasing demand for durable adhesives, laminates, and engineered wood products, expansion of the automotive and auto-components sector, used in high-temperature and safety-critical applications, rising manufacturing activity, rapid urbanization, increased domestic production, and policy support for manufacturing growth, increasing localization of production to reduce dependence on imports, infrastructure development, and strong government policy support further propel the market growth.

The India Phenolic Resins Market Size is restrained by the volatility in raw material prices, global crude oil volatility, increased environmental concerns, complex regulatory pressures high initial and operational costs, and complicate manufacturing processes challenges.

The future of India Phenolic Resins Market Size is bright and promising, with versatile opportunities emerging from the expansion of quality resins that are able to comply with more demanding environmental and safety regulations will continue growing along with the penetration of previous applications into new markets like electrical vehicles and advanced composites. The shift in local production as a means to reduce and eliminate dependency on foreign suppliers will also benefit many domestic manufacturers. Infrastructure and industrial development efforts, combined with improving the quality of end products will create additional potential for resin manufacturers to penetrate local market.

Market Segmentation

The India Phenolic Resins Market Size share is classified into product and application.

By Product:

The India Phenolic Resins Market Size is divided by product into novolac, resol, solid resol resin, liquid resol resin, and others. Among these, the novolac segment held the largest revenue market share in 2024 and is predicted to grow at a remarkable CAGR during the forecast period. Superior thermal stability, high strength, providing chemical resistance, widely used in high-growth sectors, and provide essential structural integrity and electrical insulating properties all contribute to the novolac segment's largest share and higher spending on phenolic resins when compared to other product.

By Application:

The India Phenolic Resins Market Size is divided by application into molding, paper impregnation, wood adhesives, coatings, insulations, laminates, and others. Among these, the molding segment dominated the share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. The molding segment dominates because of its intense demand for high performance, heat-resistant components in the rapidly expanding automotive and electrical sectors, offers superior mechanical strength, and ability to withstand high temperatures in harsh environments.

Competitive Analysis:

The report offers the appropriate analysis of the key organisations/companies involved within the India Phenolic Resins Market Size, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

Top Key Companies in India Phenolic Resins Market Size:

• Aditya Birla Chemicals
• SI Group India
• Hexion Specialty Chemicals
• Bakelite Hylam Ltd.
• Kanoria Chemicals & Industries
• Atul Ltd.
• Deepak Phenolics Ltd.
• Sumitomo Bakelite Co., Ltd.
• BASF India
• DIC Corporation
• Kolon Industries, Inc.
• ASK Chemicals
• SGL Carbon
• Abr Organics Limited
• Cherry Paints And Polymers Pvt. Ltd.
• Others

Recent Developments in India Phenolic Resins Market Size:

In May 2025, Deepak Phenolics announced significant investments of INR 8500 crore in phenol and polycarbonate production to enhance upstream supply chain security. This would significantly enable further substitution of imports, meaningfully contributing towards Nation Building and the vision of a Viksit Bharat.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at the India, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the India Phenolic Resins Market Size based on the below-mentioned segments:

India Phenolic Resins Market Size, By Product

• Novolac
• Resol
• Solid Resol Resin
• Liquid Resol Resin
• Others

India Phenolic Resins Market Size, By Application

• Molding
• Paper Impregnation
• Wood Adhesives
• Coatings
• Insulations
• Laminates
• Others