Kukdo Chemical Limited is expanding its manufacturing footprint in India as part of a broader strategy to increase epoxy resin capacity and strengthen its position in one of Asia’s fastest-growing chemical markets. The company is scaling up production through its wholly owned subsidiary, Kukdo Chemical India Pvt. Ltd., located in Gujarat, as demand rises from infrastructure, automotive, and industrial end-markets.
Kukdo Chemical plans to increase epoxy resin production capacity in India from 40,000 tonnes per year to 100,000 tonnes per year. The Indian operations are expected to become a key growth engine as full-scale manufacturing and sales ramp up. The company is expanding its footprint with a new plant in Gujarat.
In the medium to long term, the company plans to position its India operations as a production base for exports and as a platform to serve markets in Southwest Asia and the Middle East. It holds around 20 percent market share in India.
Kukdo Chemical’s product portfolio in India is centred on epoxy resins used across a range of industrial applications. The company manufactures and supplies epoxy resin materials that are used in infrastructure-related coatings, automotive components, electrical and electronic applications, and other advanced industrial uses.
The South Korean parent company has continued to provide financial support to the Indian subsidiary. During the first nine months of 2025, Kukdo Chemical made a cash equity contribution of KRW 14.1 billion, equivalent to approximately USD 10 million. The parent company recorded revenue of KRW 18.6 billion from the India subsidiary during the first three quarters of 2025. Purchases from the India unit were minimal, amounting to approximately KRW 30 million. Outstanding receivables from the subsidiary stood at KRW 32.4 billion as of September 30, 2025, up from KRW 15.0 billion at the end of 2024.
For the six months ended June 30, 2025, Kukdo Chemical India reported assets of KRW 114.6 billion, sales of KRW 28.9 billion, and a net loss of KRW 5.4 billion.
Kukdo Chemical has also provided payment guarantees for borrowings by its Indian subsidiary, covering loans denominated in euros, US dollars, and Indian rupees. The guarantees support the subsidiary’s ongoing operations and capacity expansion plans in Gujarat.
Kukdo Chemical holds an estimated 20 percent share of India’s epoxy resin market and is pursuing further localisation to ensure supply stability.
Kukdo Chemical India Pvt. Ltd., a 100 percent owned subsidiary, was incorporated in May 2017. The manufacturing plant is located at the Dahej-2 Industrial Estate in Bharuch district, Gujarat. Construction began in October 2019 and was completed in November 2020. The facility is engaged in the manufacturing and sale of epoxy resins for domestic customers.
