India Phenol Market

India Phenol Market Overview:

The India phenol market size reached USD 0.8 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 1.12 Billion by 2033, exhibiting a growth rate (CAGR) of 3.8% during 2025-2033. The rising demand from the construction, automotive, and electronics industries, increasing use in adhesives, laminates, and insulation materials, growing pharmaceutical applications, and expanding consumption in the manufacturing of phenolic resins and BPA-based products are some of the factors propelling the growth of the market.

India Phenol Market Trends:

Supply Chain Constraints and Rise in Demand Boosting Phenol Prices

Phenol prices in India are rising due to supply chain disruptions and increased demand. Prices are rising owing to shifting raw material costs and a restricted supply. Furthermore, increased demand in industries like building, vehicles, and medicine is contributing to the price increase. Domestic manufacturers are adapting their pricing strategies to reflect market changes. The move may encourage enterprises to increase manufacturing efficiency and explore other supply sources. With import dependency adding to the burden, stakeholders are closely monitoring international market trends. All of these factors contribute to price shifts and have an influence on overall market conditions. Regulatory changes, logistical hurdles, and currency volatility all complicate the price environment. Industry participants may also consider advance contracts and strategic sourcing to reduce risks. For example, in March 2025, Hindustan Organic Chemicals Ltd (HOCL) increased phenol prices in the Indian market. This adjustment reflects evolving market dynamics and aims to align with current demand-supply conditions. HOCL's decision is expected to influence pricing strategies across the domestic phenol industry.​

Strengthening Domestic Phenol Production

India's chemical manufacturing sector is increasingly focusing on expanding domestic phenol production to reduce import dependency. Industry leaders are making significant strides in enhancing local production capacities, ensuring a stable supply of raw materials for downstream applications. This shift supports self-reliance, promotes industrial growth, and reduces reliance on volatile international markets. By advancing technological capabilities and optimizing resources, companies are contributing to a more resilient and competitive domestic chemical industry. Enhanced production capacity also benefits sectors like construction, automotive, and pharmaceuticals. These efforts not only improve supply chain stability but also position the country as a prominent player in the global phenol market. For instance, in September 2024, the chairman and managing director of Deepak Nitrite Limited was honored with the Lifetime Achievement Award by the Indian Chemical Council at its 59th Annual Awards in Mumbai. This accolade recognizes his significant contributions to India's chemical manufacturing sector, including advancing domestic phenol production, which has reduced import dependency and strengthened the nation's self-reliance in chemical production.

India Phenol Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region/country level for 2025-2033. Our report has categorized the market based on derivatives and end user.

Derivatives Insights:

• Bisphenol A
• Phenolic Resin
• Caprolactam
• Alkyl Phenyls
• Others

The report has provided a detailed breakup and analysis of the market based on the derivatives. This includes bisphenol A, phenolic resin, caprolactam, alkyl phenyls, and others.

End User Insights:

• Chemical
• Construction
• Automotive
• Electronic Communication
• Metallurgy
• Others

A detailed breakup and analysis of the market based on the end user have also been provided in the report. This includes chemical, construction, automotive, electronic communication, metallurgy, and others.

Regional Insights:

• North India
• South India
• East India
• West India

The report has also provided a comprehensive analysis of all the major regional markets, which include North India, South India, East India, and West India.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

India Phenol Market News:

• In November 2024, ​Haldia Petrochemicals Ltd. (HPL) partnered with Lummus Technology to enhance its phenol production capacity in Haldia, West Bengal. The agreement would increase output from 300 KTPA to 345 KTPA, aligning with HPL's strategy to meet India's growing demand for phenol and acetone. This expansion is part of a broader INR 5,000 Crore investment, including the development of a greenfield facility focusing on cumene and acetone production.
• In January 2024, ​Deepak Phenolics Limited (DPL) achieved ISO certification, affirming its adherence to international quality and environmental management standards. This accreditation underscores DPL's commitment to excellence in phenol production, enhancing its credibility in the Indian market. The recognition is expected to bolster customer confidence and support the company's growth in the domestic phenol industry.

India Phenol Market Report Coverage:

Key Questions Answered in This Report:

• How has the India phenol market performed so far and how will it perform in the coming years?
• What is the breakup of the India phenol market on the basis of derivatives?
• What is the breakup of the India phenol market on the basis of end user?
• What are the various stages in the value chain of the India phenol market? 
• What are the key driving factors and challenges in the India phenol market?
• What is the structure of the India phenol market and who are the key players?
• What is the degree of competition in the India phenol market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India phenol market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the India phenol market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India phenol industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.