India Water-Based Polymer Market Size

India Water-Based Polymer Market Future Prospects

The Indian water-based polymer market will generate an estimated revenue of USD 19.6 billion in 2024, and it is projected to grow at a CAGR of 6.1% from 2024 to 2030, reaching USD 27.9 billion by 2030.

The expansion of the automotive sector in India, which uses water-based polymers for coatings, sealants, and adhesives, is one of the main drivers of market growth.

For instance, the contribution of the automotive industry to the national GDP has risen to about 7.1%, which was 2.77% in 1992-93. Moreover, in the Indian automobile industry, two-wheelers and passenger cars accounted for 77% and 18% market share, respectively, during 2021–2022.

These polymers are in high demand in several other industries, such as textiles and construction, because they are environment-friendly and non-toxic. Furthermore, this market is expanding due to the industries’ heavy reliance on water-based adhesives, which are recognized for their strength and safety.

The Indian government is concentrating on renewable and sustainable developments. The government is implementing strict rules for adopting eco-friendly materials, due to which several industries are shifting toward water-based solutions. Moreover, with the help of advanced material science, the properties of these polymers are being continuously enhanced, such as greater customization abilities, improved biodegradability, increased durability, and compatibility.