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Yahoo
10 hours ago
- Business
- Yahoo
India Casting Polyurethane Market to Hit Valuation of US$ 525.42 Million By 2033
India's casting polyurethane market is thriving, driven by industrialization and the 'Make in India' initiative. Dominance by rolls and polyester prepolymers highlights a clear shift towards high-performance, durability, and customized solutions for automotive and manufacturing. Chicago, July 31, 2025 (GLOBE NEWSWIRE) -- The India casting polyurethane market was valued at US$ 246.42 million in 2024 and is expected to reach US$ 525.42 million by 2033 at a CAGR of 8.96% during the forecast period 2025–2033. The India casting polyurethane market is experiencing a surge driven by targeted, high-value industrial applications beyond general manufacturing. A primary catalyst is the government's National Infrastructure Pipeline (NIP), which has allocated INR 111 lakh crore (approx. US$ 1.3 trillion) for projects through 2025, creating immense demand. This is materializing in sectors like port modernization under the Sagarmala initiative and the expansion of the oil and gas pipeline network towards a 34,000 km target, requiring specialized polyurethane pigs, seals, and coatings. Download Sample PDF Copy: Furthermore, the mining sector's ambitious goal to increase coal production to 1 billion tons is directly fueling the need for high-performance, abrasion-resistant polyurethane screens and liners. This specialized demand is supported by the robust health of the broader manufacturing sector, evidenced by the sustained growth in India's Index of Industrial Production (IIP) throughout 2024, confirming a resilient and diversifying customer base for casting polyurethane stakeholders. Key Findings in India Casting Polyurethane Market Market Forecast (2033) US$ 308.18 million CAGR 7.82% By Product Type Rolls (30.64%) By Prepolymer Type Polyester Based Prepolymer (44.71%) By Resin Grade Standard Grade (33.33%) By Manufacturing Process Casting (Liquid Polyurethane) (51.40%) By Design Elastomeric (35.99%) By Application Industry Casting (30.54%) By Distribution Channel Distributors/Wholesalers (50.68%) By Industry Automotive (25.76%) Top Drivers Rapid industrialization fueled by the 'Make in India' initiative. Superior performance characteristics compared to traditional materials like rubber. Strong demand from automotive, construction, and footwear end-use industries. Top Trends Increasing focus on sustainable, bio-based, and recyclable polyurethane solutions. Adoption of 3D printing for rapid prototyping and manufacturing. Development of custom-formulated, high-performance polyurethane for specific applications. Top Challenges Volatility in the prices of essential raw materials. Navigating stringent environmental regulations on production and disposal. Competition from lower-cost alternative materials and imported products. Automotive Sector's Monumental Growth Propels Unprecedented Demand for Casting Polyurethane Components The Indian automotive industry stands as a primary and voracious consumer of casting polyurethane market, driven by the relentless pursuit of lightweighting, durability, and enhanced performance. The sheer scale of this demand is staggering, with the Indian automotive market projected to produce over 30 million vehicles by the end of 2024. This monumental production volume translates directly into a massive requirement for polyurethane parts such as bushings, seals, and shock absorbers. Furthermore, the Indian auto components industry is on a clear path to become the 3rd largest in the world by 2025, cementing its role as a critical demand driver. A particularly insightful trend is seen in the Electric Vehicle (EV) space, where prototype development cycles for critical applications, including EV battery components that utilize cast polyurethanes, have lengthened from 18 to 28 months since 2020, indicating more complex, high-value applications for which advanced materials are indispensable. India's Infrastructure Boom Creates Foundational Demand for Durable Casting Polyurethane Solutions India's ambitious national infrastructure development agenda is a cornerstone of the demand for high-performance materials in the casting polyurethane market. The inherent properties of casting polyurethane—such as exceptional abrasion resistance, load-bearing capacity, and environmental resilience—make it an ideal material for the demanding applications within the construction sector. The sector's foundational strength is evidenced by a GDP from construction that increased to US$ 31.53 billion in the third quarter of 2021, setting a high baseline for continued expansion. This growth is further fueled by significant capital injection, with infrastructure activities accounting for a substantial $81.72 billion in 2021. This investment is materializing into countless projects requiring durable components like concrete molds, pipe linings, and bridge bearings, creating a steady and growing revenue stream for the India casting polyurethane market. "Make in India" Fuels Industrial and Manufacturing Sector Casting Polyurethane Consumption The "Make in India" initiative has catalyzed a renaissance in the country's manufacturing and industrial heartlands, directly benefiting the India casting polyurethane market. The foundry industry, a critical component of this ecosystem, is a major consumer. In early 2024, India solidified its position as the world's second-largest producer of castings, with a massive annual production of 12 million tons. This sector's momentum is set to continue, with the foundry industry's output projected to increase by a healthy 7% in 2024 alone. This production is supported by a vast network of over 4,500 foundries, which collectively employ over 500,000 people both directly and indirectly. Geographically, the city of Coimbatore is a significant hub, accounting for nearly 40% of the nation's total casting output. Complementing this is the strong industrial base in West India, where states like Maharashtra and Gujarat hold a 27.5% share of the polyurethane foam market, indicating concentrated industrial demand. These foundries rely on casting polyurethane for creating high-precision, durable patterns and core boxes, making their growth intrinsically linked to the success of the India casting polyurethane market. High-Tech Electronics and Electricals Emerge as a Key Growth Frontier While traditional heavy industries are bedrock consumers, the rapidly advancing electronics and electrical sector is emerging as a sophisticated and high-value frontier for casting polyurethane applications. The primary use here is in potting and encapsulation, where polyurethane compounds are used to protect sensitive electronic components from moisture, shock, vibration, and thermal stress. The potential of this segment is immense, as India's digital economy is forecast to skyrocket to an astonishing US$1 trillion by 2025. This top-level economic transformation is driven by a domestic electronics manufacturing boom, which in turn creates a cascading demand for protective materials, positioning the India casting polyurethane market as a key enabler of this high-tech revolution. Strategic Investments and Capacity Expansions Signal Unwavering Market Confidence and Growth Nothing signals a market's health and future potential more clearly than tangible investments from industry leaders. In this regard, the India casting polyurethane market is receiving powerful endorsements. Global chemical giant BASF India is set to increase its production capacity of Ultramid® polyamide (PA) and Ultradur® polybutylene terephthalate (PBT) by over 40% across its Panoli and Thane facilities, with this new capacity becoming available in the second half of 2025. Further demonstrating a commitment to innovation, BASF inaugurated a new, state-of-the-art Polyurethane Technical Development Center in Mumbai in May 2024, a facility spanning approximately 2,000 square meters. Adding to this momentum, Pearl Polyurethane Systems strategically opened a new distribution center in Maharashtra in December 2023. These actions are not speculative; they are calculated moves based on clear demand signals, reflecting deep confidence in the sustained growth of the India casting polyurethane market. Navigating the Critical Raw Material Landscape for Sustainable Market Growth A comprehensive market analysis requires an understanding of the upstream supply chain. In 2024, Methylene diphenyl di-isocyanate (MDI) stands out as the largest revenue-generating raw material within the Indian polyurethane market, making its availability and pricing a critical factor for manufacturers. The supply chain is not without its challenges; for instance, the shutdown of BASF's Ludwigshafen TDI plant in 2023 is anticipated to maintain tight supply conditions for Toluene di-isocyanate (TDI), a key precursor, potentially pushing prices upward through 2024. Successfully navigating these raw material dynamics—securing stable MDI supply and mitigating TDI price volatility—will be a key determinant of profitability and sustainable growth for participants in the competitive India casting polyurethane market. Analyzing India's Expanding Role Within the Global Polyurethane Trade Dynamics India's position in the global polyurethane trade is evolving rapidly, presenting both a challenge and an opportunity. Forecasts predict that polyurethane imports into India will reach 184.4 million kilograms by 2026, underscoring the nation's significant and growing domestic consumption that currently outpaces local production. However, the domestic industry is simultaneously scaling its export capabilities. Between October 2023 and September 2024, Indian companies exported 3,630 shipments of Polyurethane Resin. Looking ahead, polyurethane exports from India are forecast to reach 27.7 million kilograms by 2026. This dual dynamic highlights a vibrant domestic market with immense internal demand, alongside a growing capacity to compete on the global stage, further strengthening the overall ecosystem for the India casting polyurethane market. Need a Customized Version? Request It Now: Exploring Niche Applications and Future Horizons for Market Growth Beyond the primary demand drivers, the future vitality of the India casting polyurethane market will be shaped by its penetration into high-growth niche applications. The versatility of the material opens doors to diverse sectors. A prime example is the Indian furniture market, where the organized segment is projected to grow significantly by 2035. This expansion will drive demand for polyurethane components in commercial and residential furniture, from molded chair shells to high-resilience foam cushions. The confluence of foundational strength in automotive and construction, explosive growth in industrial manufacturing, and the emergence of new frontiers in electronics and consumer goods creates a multi-faceted and resilient demand structure. The outlook is unequivocally positive, promising a robust and expansive future for the India casting polyurethane market. India Casting Polyurethane Market Major Players: BASF SE Covestro AG DOW Inc. Rubber Regenerating & Processing Co Precision Polyurethanes K.D. Joshi Rubber Industries Pvt. Ltd . Perfect Polymers Parakh Rubber House D.P. Rubber Pvt. Ltd. Suryakiran Industries SOFTEX INDUSTRIAL PRODUCTS PVT. LTD . Other Prominent Players Key Market Segmentation: By Product Type Rolls Formwork Pads Sheets Others By Prepolymer Type Polyester Base Prepolymer Polyether Base Prepolymer Polycaprolactone Base Prepolymer Others By Resin Grade Standard Grade High-Performance Grade Specialty Grade Others By Manufacturing Process Reaction Injection Molding (RIM) Casting (Liquid Polyurethane) Extrusion Compression Molding Others By Design Rigid Flexible Foamed Elastomeric Others By Application Industrial Castings Wheels & Tires Belt & Hoses Medical Devices Footwear Components Concrete Blocks Others By Distribution Channel Direct Sales Online Sales Distributors/Wholesalers By Industry Automotive Mechanical Electronics & Instruments Aerospace & Defense Footwear & Sports Healthcare Others Need to Validate the Data with a Domain Expert?: About Astute Analytica Astute Analytica is a global market research and advisory firm providing data-driven insights across industries such as technology, healthcare, chemicals, semiconductors, FMCG, and more. We publish multiple reports daily, equipping businesses with the intelligence they need to navigate market trends, emerging opportunities, competitive landscapes, and technological advancements. With a team of experienced business analysts, economists, and industry experts, we deliver accurate, in-depth, and actionable research tailored to meet the strategic needs of our clients. At Astute Analytica, our clients come first, and we are committed to delivering cost-effective, high-value research solutions that drive success in an evolving marketplace. Contact Us:Astute AnalyticaPhone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)For Sales Enquiries: sales@ Follow us on: LinkedIn | Twitter | YouTube CONTACT: Contact Us: Astute Analytica Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World) For Sales Enquiries: sales@ Website: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
News18
2 days ago
- Business
- News18
‘Nation's Interest Prior For Us': PM Modi Touts Made-In-India Weapons During Op Sindoor
Last Updated: PM Modi praised 'Make In India' for Operation Sindoor's success with indigenous weapons and criticised Congress for weakening defense manufacturing. Prime Minister Narendra Modi on Tuesday emphasised on 'Make In India' initiative saying that the indigenously developed weapons played a decisive role in Operation Sindoor- India's military strikes against Pakistan in response to Pahalgam terror attack. While speaking during the special discussion in the Lok Sabha on 'India's strong, successful and decisive Operation Sindoor in response to the terror attack in Pahalgam," the Prime Minister highlighted that for the first time since independence, his government took bold steps in defence sector and strengthened manufacturing. PM Modi further thanked the young generation working in private sector for the prodcution of defence weapons. 'I thank the 25-30 year-olds working in private defence production for playing a vital role in Operation Sindoor." He further said that his government established the position of Chief of Defence Staff. 'We initiated a series of response- some even for the first time in Independence like Chief of Defence staff. our government brought reforms. I commend the three forces for accepting these changes," he added. He also lashed out at the previous Congress governments for deliberately weakening the defence manufacturing in the country. 'Our historic defence manufacturing was deliberately weakened after independence. Under Congress, self-reliance for the armed forces was ignored. They chased personal gains in defence deals," he said. 'On one hand, India is moving ahead at a fast pace towards self-reliance, but Congress is becoming dependent on Pakistan for issues. Unfortunately, Congress is importing issues from Pakistan…" he added. The Prime Minister further asserted that the BJP has always put nation's interest prior to everything else owing to which the decisions became productive. Earlier today, Rajnath Singh said, 'I am proud to say that our Air Defence system, Counter-Drone system, and electronic equipment completely foiled this attack by Pakistan. Pakistan could not hit any of our targets, and none of our important assets were damaged. Our security arrangements were impregnable, and every attack was thwarted." During Operation Sindoor, India's Akash missile defence system and security shields like the S-400 fortified the nation's defences. Pakistan launched a wave of drone attacks using UAVs acquired from Turkey. While Pakistan rained drones, India's defence system proved strong, intercepting and destroying about 99 percent of them in time. On the intervening night of May 7 and 8, Pakistan attempted to engage a number of military targets in northern and western India, including Awantipora, Srinagar, Jammu, Pathankote, Amritsar, Kapurthala, Jalandhar, Ludhiana, Adampur, Bathinda, Chandigarh, Nal, Phalodi, Uttarlai, and Bhuj, using drones and missiles. These were neutralised by the Integrated Counter UAS (Unmanned Aerial Systems) Grid and Air Defence systems. Air Defence systems detect, track, and neutralise threats using a network of radars, control centres, artillery, and both aircraft- and ground-based missiles. On the morning of May 8, the armed forces targeted air defence radars and systems at a number of locations in Pakistan. India used battle-proven air defence systems like the Pechora, OSA-AK and LLAD guns (low-level air defence guns), as well as indigenous systems such as the Akash, which demonstrated stellar performance. Get breaking news, in-depth analysis, and expert perspectives on everything from politics to crime and society. Stay informed with the latest India news only on News18. Download the News18 App to stay updated! view comments Location : New Delhi, India, India First Published: July 29, 2025, 20:16 IST News india 'Nation's Interest Prior For Us': PM Modi Touts Made-In-India Weapons During Op Sindoor Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
The Hindu
3 days ago
- Business
- The Hindu
Private defence suppliers seek review of rules limiting ammunition procurement to public sector
Private defence suppliers have requested the Defence Ministry (MoD) to review defence procurement manual (DPM) which restricts supply of ammunition only from public sector manufacturers, saying that they are capable of fulfilling the munitions requirement of the defence forces. A private defence manufacturer said that if the MoD amended the existing rule to allow for open Request For Proposal (RFP) to be issued to both public and private sector, it would provide a big boost to the ammunition industry and allow private sector players, who had invested hugely to join the Make In India initiative, to supply ammunition to India's Armed Forces. 'We had a meeting where we have given presentation over the concern and the MoD assured that the proposal is under review by the MoD and Department of Military Affairs,' said a top official of a private defence manufacturer. Adani Defence and Aerospace ammunition manufacturing facility in Kanpur, under Uttar Pradesh defence corridor, is already rolling out 150 million rounds of small calibre ammunition of — 5.56 mm (used majorly in Insas rifles), 7.62 mm (7.62x39 mm cartridge which is used in AK-47 and AK-203 rifles and 7.62x51 mm NATO round which is used in self-loading rifles (SLR) and machine guns), .338 mm (sniper rifles) and 9 mm (pistols). 'Adani already has capacity to produce 300 million rounds of small calibre ammunition and can fulfil all the requirement of defence forces with world-class quality and highly competitive costs. Having done full indigenisation, Adani Defence is also setting up the Propellant (explosive material) capacity which is otherwise imported into the country and it will reduce dependence on Europe and the U.S. It will ensure that India becomes completely self-reliant in ammunition and can overcome any global supply chain disruptions,' said Ashish Rajvanshi, CEO, Adani Defence & Aerospace, in a virtual interaction with journalists, who had been invited by the company, at its Kanpur ammunition complex. He emphasised that the ammunition produced by Adani Defence & Aerospace is of the highest quality and NATO-certified, which allows them to export it to global markets, based on the approved list of countries by the External Affairs Ministry (MEA) and the MoD. The company is already exporting ammunition to four countries. At the State police level, the company recently supplied ammunition to the U.P. Police, through bidding which was done on the Government e-Marketplace (GEM) portal, he said. Recently, Defence Minister Rajnath Singh had announced that the Ministry had declared 2025 as the 'Year of Reforms', aiming to transform the Armed Forces to become technologically advanced and combat-ready. He had also quoted that defence exports had surged from ₹686 crore in 2013–14 to ₹23,622 crore in 2024–25.
Times of Oman
24-07-2025
- Business
- Times of Oman
"New chapter in India-UK economic partnership," PM Modi lauds signing of CETA
London: Prime Minister Narendra Modi on Thursday hailed the signing of the Comprehensive Economic and Trade Agreement (CETA) as a new chapter in the India-UK relationship. PM Modi said that the deal represents India and UK's commitment to enhance trade ties. In a post on X, he said, "A new chapter begins today in the India-UK economic partnership! The signing of the Comprehensive Economic and Trade Agreement (CETA) reflects our shared commitment to enhancing trade, driving inclusive growth and creating opportunities for farmers, women, youth, MSMEs, and professionals." "Labour-intensive sectors such as textiles, leather & footwear, marine, gems & jewellery, organic chemicals, plastics, auto parts, artisanal products and services are poised for strong growth. This will ensure further acceleration of India's journey towards becoming a global manufacturing hub. India-UK CETA will add momentum to the 'Make in India' led growth and export promotion. This agreement will also provide Indian consumers with high-quality goods at competitive prices. The future indeed holds the promise of greater prosperity and deeper ties between our nations!" he added. Earlier in the day, while addressing a joint press conference, PM Modi lauded the signing of the landmark India-UK Free Trade Agreement (FTA), stating that the agreement marked a significant milestone in bilateral relations between the two nations. During a joint press statement with UK Prime Minister Keir Starmer, PM Modi highlighted the enhanced market access and economic opportunities for both nations while expressing gratitude for the warm hospitality he received during his official visit to the country. "First of all, I would like to express my heartfelt gratitude to Prime Minister Starmer for the warm welcome and gracious hospitality. Today marks a historic day in our bilateral relationship. I am pleased to note that, after many years of hard work, the Comprehensive Economic and Trade Agreement between our two countries has been concluded," PM Modi stated. The much-awaited landmark India-UK FTA was signed in the presence of PM Modi and Keir Starmer, providing greater access to goods and services between the two countries. PM Modi is currently on a two-day official visit to the UK.
Time of India
19-07-2025
- Business
- Time of India
Rahul Gandhi Slams ‘Make in India', Says India Just Assembling, Not Manufacturing
Congress leader Rahul Gandhi visited Delhi's Nehru Place, Asia's largest electronics market, to gain firsthand insight into the realities of India's electronics and manufacturing sector. Engaging directly with shopkeepers, technicians, and traders, Gandhi inquired about the origin of the products sold and was quick to highlight India's continued reliance on Chinese imports. He pointed out that despite the government's strong push for the 'Make in India' initiative, much of the activity on the ground amounts to little more than assembly work rather than full-scale domestic manufacturing. Gandhi emphasized the urgent need for policy reforms that go beyond slogans and deliver real support for small businesses, which he said are the backbone of the Indian economy. He stressed the importance of strengthening local supply chains and building true manufacturing capabilities to reduce import dependency and create sustainable employment. His visit aimed to spotlight the gap between political narratives and economic ground realities.#RahulGandhi #NehruPlace #MakeInIndia #LocalManufacturing #ChineseImports #SupportSmallBusiness #ElectronicsMarket #IndiaEconomy #GroundReality #CongressVoice #ManufacturingMatters #IndiaVsChina#AtmanirbharBharat Read More
