Published on December 1, 2014

Recently the fall in crude oil prices have given a positive impact on resins industry as the raw material prices have reduced. Presently resins industry is moving with a steady pace as all the buyers have adopted the wait and watch stance to further fall in the prices of raw material and related chemicals.

Resins market players are looking for effective marketing strategies to take the advantages of the opportunities and profitability in the market. Market analyst said that increasing R&D efforts by major suppliers towards resin is widening its scope in niche and cost-sensitive application.

According to recent research report the resin market in India is poised to grow substantially in the next five years. As per the report, rising manufacturing activity and core sector growth application markets such as transportation is mounting swiftly, helping the intensification of Indian resin market. Increased applications of phenolic molding compounds in automotive and aerospace industries are expected to impact the global resins market positively. The increasing GDP growth rates and urbanization will lead to fuel the demand for resins for different end-use applications.