India Casting Polyurethane Market to Hit Valuation of US$ 525.42 Million By 2033 | Astute Analytica

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.

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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

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.

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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

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