Latest news with #industrialization
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
Associated Press
3 days ago
- Business
- Associated Press
HEIDELBERG agrees strategic partnership with defense specialist VINCORION
Heidelberger Druckmaschinen AG (HEIDELBERG) is positioning itself in the defense sector with its first concrete project and is entering into a strategic partnership with VINCORION Advanced Systems GmbH. As part of a memorandum of understanding (MOU), both companies have agreed on a cooperation spanning several years, which is expected to be expanded in the future and to strengthen industrial performance as well as security of supply in the defense sector in the long term. This cooperation will see HEIDELBERG move into the defense market by developing, industrializing, and building power control and distribution systems for VINCORION. In this way, the two companies will help boost technological sovereignty and safeguard domestic value chains. Established technology leader for critical systems VINCORION has over 60 years of experience in developing and manufacturing state-of-the-art power systems for use in civilian and military applications. The company also develops cutting-edge technology, including rescue hoists for helicopters. 'Important step toward greater technological independence and a stronger industrial base' 'The partnership with VINCORION marks a milestone for HEIDELBERG and emphasizes our technology company's ability to industrialize complex products efficiently. We are looking to become increasingly established as a reliable partner in security-relevant areas,' says Jürgen Otto, CEO of HEIDELBERG. 'Our combination of technological expertise and reliable production in Germany is an important step toward greater technological independence and a stronger industrial base,' he adds. Strategic alliance for technological sovereignty 'This partnership brings together two German technology leaders with complementary strengths,' explains Kajetan von Mentzingen, Managing Director of VINCORION. 'HEIDELBERG boasts outstanding industrialization expertise and scaling capabilities. Together, we can boost Europe's technological sovereignty in a strategically important area, while also taking our international competitiveness to the next level,' he continues. High vertical range of manufacture in Germany HEIDELBERG is aiming to become established as a reliable partner for high-quality products and gradually expand this role within the defense sector. HEIDELBERG technologies offer key value-adding expertise covering hardware and software development, electronic component manufacture, machining, foundry technology, and the assembly of highly complex plant and system solutions in the heavy engineering sector. This makes HEIDELBERG an experienced end-to-end system partner with a portfolio that also includes the supply of spare parts and service operations. One capability that delivers particular added value is rapid scaling using existing infrastructure and capacities. 'The VINCORION project is our first opportunity to offer our industrial expertise to the defense sector,' says Michael Wellenzohn, Head of HEIDELBERG Industry. 'Our skills and infrastructure make HEIDELBERG a force to be reckoned with in heavy engineering when it comes to rapid scaling capabilities,' he emphasizes. About HEIDELBERG: Heidelberger Druckmaschinen AG (HEIDELBERG) is a leading technology company that has been standing for innovation, quality, and reliability in mechanical engineering worldwide for 175 years. With a clear focus on growth and as a total solution provider, HEIDELBERG is driving further development in the core areas of packaging and digital printing, software solutions, and lifecycle business with service and consumables so that customers can achieve maximum productivity and efficiency. The company is also focusing on expanding into new business areas such as high-precision plant engineering with integrated control systems, automation technology, robotics, and the growing green technologies sector. With its strong international presence in approximately 170 countries, the creative power and expertise of its roughly 9,500 employees, its own production facilities in Europe, China, and the USA, and one of the largest global sales and service networks, the company is ideally positioned for future growth. About VINCORION: VINCORION is a dynamically growing technology company that specializes in innovative power systems for safety-critical applications. As a partner to the aviation, security, and defense industries, VINCORION develops and manufactures solutions tailored to its customers' specific requirements. With over 900 employees at sites in Germany and the USA, VINCORION is ideally positioned for further growth. 175 years of HEIDELBERG – Home of Print press kit | HEIDELBERG Image material and further information about the company are available in theInvestor Relationsportal andPress Loungeof Heidelberger Druckmaschinen AG Additional details are also available in the VINCORION newsroom: Important note: This release contains forward-looking statements based on assumptions and estimates by the management of Heidelberger Druckmaschinen Aktiengesellschaft. Even though the management is of the opinion that these assumptions and estimates are accurate, the actual future development and results may deviate substantially from these forward-looking statements due to various factors, such as changes in the overall economic situation, in exchange and interest rates, and within the print media industry. Heidelberger Druckmaschinen Aktiengesellschaft provides no guarantee and assumes no liability for future developments and results deviating from the assumptions and estimates made in this press release.
Zawya
24-07-2025
- Business
- Zawya
Africa Finance Corporation (AFC) Fuels Africa's Mining Ambitions as Silver Sponsor of African Mining Week (AMW) 2025
Africa Finance Corporation (AFC), a leading multilateral finance institution, has joined the upcoming African Mining Week (AMW) 2025 as a Silver Sponsor. Held under the theme, From Extraction to Beneficiation: Unlocking Africa's Mineral Wealth, AMW offers a strategic platform for AFC to engage with African and global mining stakeholders to advance the continent's mineral development agenda. As part of the conference program, AFC will feature in a dedicated finance panel: 'The Investor Perspective – Financing Africa's Mineral Industrialization.' The session will explore how tailored financing solutions can drive local beneficiation, industrialization and inclusive economic growth across Africa's mining value chains. AMW serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@ . The AFC's involvement in AMW 2025 comes at a time of expanded capital mobilization efforts. In June 2025, the Corporation secured a €250 million, 10-year loan from Italy's Cassa Depositi e Prestiti to catalyze Italian investment in African mining and energy infrastructure projects – particularly the strategic Lobito Corridor, enhancing mineral transport between Angola, Zambia and the Democratic Republic of Congo. This initiative complements a proposed €320 million EU financing package supporting the same corridor. In February 2025, the European Investment Bank committed $750 million to AFC's Climate Resilient Infrastructure Fund, targeting climate-focused projects including energy transition metals and sustainable logistics infrastructure. The same month, AFC also secured a $400 million Shariah-compliant facility from Islamic financiers, following a $500 million hybrid bond issuance in January and a $30 million equity investment from the African Development Bank in December 2024. AFC's capital base has also grown with a $184.8 million equity injection from Angola, reflecting the country's continued collaboration with AFC following over $1 billion in investments in mining, energy and transport. Meanwhile, a €100 million loan extended to construction group Mota–Engil is enabling the execution of three major gold mining contracts in Ivory Coast and Mali – Africa's second- and third-largest gold producers. Against this backdrop, AMW 2025 provides a timely opportunity for the AFC to showcase its financing strategy, highlight its role in advancing Africa's mineral beneficiation and connect with mining ventures in search of capital. Distributed by APO Group on behalf of Energy Capital&Power.
CBC
24-07-2025
- Science
- CBC
Study finds that colonization destroyed 90% of all food sources in Burrard Inlet
A new study from the University of B.C. and the Tsleil-Waututh First Nation found that smallpox, overfishing and rapid industrialization devastated the traditional foods of First Nations in the area. Study co-author Michael George said his people went from hearing stories of abundance to "nearly nothing" while his daughter and another co-author Michelle said it shows the need for habitat restoration.
Zawya
23-07-2025
- Business
- Zawya
New Bank Leadership, Capital Strategies Drive African Mining Investment Push
Several African multilateral banks and financial institutions have undergone significant leadership transitions this year aimed at aligning financial strategies with the continent's evolving development and industrialization goals. In June, the African Export–Import Bank (Afreximbank) appointed Dr. George Elombi as President and Chairman of the Board of Directors, succeeding Professor Benedict Oramah after nearly a decade of leadership. Under Dr. Elombi, the bank aims to scale into a $250 billion institution and serve as a key enabler of investment in Africa's mining sector. The African Development Bank (AfDB) also elected new leadership in May, appointing Sidi Ould Tah to replace Akinwumi Adesina. The Bank is now expanding its capital base – reaching $318 billion – while pursuing a $25 billion replenishment round and broadening its bond issuance strategy to support infrastructure and industrialization. Leadership changes have also extended to commercial banks. Standard Bank appointed Sim Tshabalala as interim CEO in April, while Absa Group named Kenny Fihla as CEO in March. African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@ At this year's African Mining Week (AMW), a featured panel on The Investor Perspective – Financing Africa's Mineral Industrialization will explore how these and other institutions are adapting financial strategies to meet the continent's infrastructure and beneficiation needs. Recent deals underscore the sector's momentum. In June, Afreximbank signed a $3.8 billion agreement with Gabon to fund manganese and gold trading, energy development and rail infrastructure. It also extended a $25 million facility to Lilium Gold for operations at the Boungou and Wahgnion gold mines in Burkina Faso. Meanwhile, AfDB approved $325 million in financing for Mauritania's state-owned SNIM to upgrade logistics and equipment for its iron-ore corridor. In South Africa, Standard Bank provided $300 million to Northam Platinum for a 140 MW wind power plant, ensuring long-term energy security for mining operations. It is also co-financing a $38.5 million deal with Lotus Resources for the Kayelekera Uranium Project in Malawi. Absa Bank is backing Angola's Longonjo Rare Earth Project – operated by Pensana – with an $80 million facility. The project is expected to supply up to 5% of the world's magnet rare earth elements critical to electric vehicle manufacturing. AMW 2025 will bring together African financial institutions, mining stakeholders and international partners to forge new investment alliances and accelerate mining sector growth. Held alongside African Energy Week: Invest in African Energies 2025, AMW is the premier platform for engaging with the full spectrum of Africa's mining opportunities. Distributed by APO Group on behalf of Energy Capital&Power.
