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.
Report Attribute
|
Key Statistics
|
---|---|
Base Year
|
2024 |
Forecast Years
|
2025-2033
|
Historical Years
|
2019-2024
|
Market Size in 2024 | USD 0.8 Billion |
Market Forecast in 2033 | USD 1.12 Billion |
Market Growth Rate 2025-2033 | 3.8% |
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.
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:
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:
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:
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.
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.
Report Features | Details |
---|---|
Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Billion USD |
Scope of the Report |
Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
|
Derivatives Covered | Bisphenol A, Phenolic Resin, Caprolactam, Alkyl Phenyls, Others |
End Users Covered | Chemical, Construction, Automotive, Electronic Communication, Metallurgy, Others |
Regions Covered | North India, South India, East India, West India |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |