India's Epoxy Resin Duty Is In Force. The Import Record Shows What Changed.

India has charged an anti-dumping duty on liquid epoxy resin from China, Korea, Saudi Arabia, Taiwan and Thailand since 17 November 2025, at USD 37 to USD 483 a tonne depending on the origin and the producer. In the eight months from December 2025, India imported about 60,000 tonnes of epoxy resin, the same as in the same eight months a year earlier.

The mix changed. Between the two windows Thailand's tonnage fell by about 29%, Saudi Arabia's by about 77% and Taiwan's by about 40%. China's rose by about 9%, and Malaysia, Germany, Japan and the United States sent more. The five named origins supplied between 82% and 87% of the tonnage in the earlier window and between 76% and 80% in the later one.

The duty in five facts

17 November 2025 India's anti-dumping duty on liquid epoxy resin from China, Korea, Saudi Arabia, Taiwan and Thailand took effect under Customs Notification 33/2025. Source: Customs Notification 33/2025-Customs (ADD), 17 November 2025

USD 37 to USD 483 a tonne The rate depends on the origin and, for China, Korea and Thailand, on the producer named on the invoice. Source: Customs Notification 33/2025-Customs (ADD)

About 60,000 tonnes in both windows India imported 59,965 tonnes in December 2024 to July 2025 and 59,801 tonnes in December 2025 to July 2026. Total imports did not fall. Source: UN Comtrade, India as reporter, HS 390730, rows of 20 tonnes or more; Phontix AI calculation

76% to 80% The five named origins supplied between 76% and 80% of the tonnage in the later window, against between 82% and 87% in the earlier one. Source: UN Comtrade; Phontix AI calculation

Saudi Arabia fell before the duty Saudi tonnage was already 182 tonnes in July to September 2025 and 99 in October to December, down from 666 in April to June 2025. Source: UN Comtrade; Phontix AI calculation

Two limits apply before anyone reads a cause into this. The customs line covers all epoxy resin, which is wider than the liquid resin the duty covers. And the data shows where resin came from, not which producer made it, and the duty rate depends on the producer. The figures show what moved. They cannot show why.

What the duty covers

The duty is set by Customs Notification 33/2025-Customs (ADD), dated 17 November 2025, which acts on the final findings of India's trade remedies directorate (DGTR) dated 18 August 2025. It takes effect from publication in the Official Gazette and runs for five years unless revoked, superseded or amended earlier.

The duty rests on 2023 data, so the import record below, which runs from 2024 to 2026, comes after the period DGTR examined.

The rate depends on who made the resin, so the producer on the invoice decides the duty.

The notification also charges the same rate on resin made in any other country but exported from China, Korea, Saudi Arabia, Taiwan or Thailand. A cargo that passes through one of those five does not avoid the duty.

OBSERVED: text of Notification 33/2025-Customs (ADD), read on 25 October 2026 in a copy of the Gazette text. The rates, scope and exclusions also match the duty table in the DGTR final findings. The CBIC original was not opened.

What the import record shows

We compared the eight months after the notification (December 2025 to July 2026) with the same eight months a year earlier (December 2024 to July 2025). Both windows are the same length and the same season. India's total epoxy resin imports were level: 59,965 tonnes in the earlier window and 59,801 tonnes in the later one. That is about 7,500 tonnes a month in both. In the two quarters before and around the notification (July to December 2025) the average was about 7,300 tonnes a month, so the record shows no step up in imports ahead of the duty.

Shares are of the filtered total. Shares may not add to exactly 100% because of rounding.

The five named origins together supplied 79.0% of the later window with Taiwan counted and 76.5% without it, against 86.4% and 82.1% in the earlier one. Thailand's drop accounts for most of the fall. China, the largest named origin, supplied more tonnage after the duty than before it. The record cannot say why. China's two lowest-rate producers pay USD 37 a tonne, and the data does not show producers.

\*India's customs data lists Taiwan under "Other Asia, nes", which is mostly Taiwan. We have treated the whole line as Taiwan. That is an assumption.

How the quarters read

Two eight-month windows hide the path between them. Quarterly tonnes show it.

Four things stand out.

• Saudi Arabia was already at 182 tonnes in July to September 2025 and 99 in October to December, down from 666 in the spring. In the first three quarters of 2024 it ran at 125, 131 and 158 tonnes a quarter. So most of its fall comes before the duty took effect, and the earlier window sits on a high stretch.
• Thailand peaked in January to March 2025, was lower in each of the next three quarters, then rose again to 4,573 tonnes in April to June 2026, above its October to December 2025 level. The duty does not show up as a clear step down.
• China's 9,964 tonnes in April to June 2026 is the highest quarter in the series, which starts in January 2024. It is also a quarter when basic customs duty on epoxy resin was nil (see below).
• Malaysia's tonnage rose from 190 tonnes in April to June 2025 to 816 in July to September 2025, a quarter that includes the DGTR findings of 18 August 2025 and ends before the duty.

The data cannot say why any of these moved.

Average import values

These are averages, not prices. Each is import value divided by tonnes, a CIF average across every epoxy grade in the customs line, recorded weeks after the cargo was priced. Saudi Arabia is left out because its later window is 294 tonnes. The duty is a fixed USD amount a tonne, so against these averages it is a larger share of a cheaper resin than of a dearer one. We have not calculated a landed cost.

What else changed in these months

Our reading, not a sourced forecast: the duty may explain part of the movement in Thailand, Saudi Arabia and Taiwan, but other things changed in the same window.

• The West Asia conflict disrupted Gulf shipping from March 2026 (see our companion post). Saudi Arabia ships from the Gulf. The data cannot separate this from the duty. Saudi tonnage was, however, already low before March 2026 (see the quarterly table).
• Basic customs duty on epoxy resin (line 3907 30 10) was nil from 2 April to 30 June 2026 under Customs Notification 12/2026, and the end date was moved to 15 July 2026 by Notification 22/2026. The Finance Ministry said the relief was given because of the conflict in West Asia and its effect on supply chains, and that petroleum companies had been asked to concentrate on LPG. Both notifications cover basic duty only. Anti-dumping duty was not affected. Reports say the 7.5% rate returned after 15 July (A2Z Taxcorp); we have not seen a notification for that.
• The data covers all epoxy resin, including solid and specialty grades from Germany, Japan and the United States that the duty excludes. Their average import values of USD 4,700 to USD 8,700 a tonne show a different product mix from the Asian bulk resin.
• Malaysia's tonnage rose from 383 to 2,226 between the windows. The record does not say why, and Malaysia is not a named origin.
• Demand, plant outages and contract timing are possible causes the data cannot rule out.

OBSERVED: UN Comtrade, India as reporter, HS 390730, origin-month rows of 20 tonnes or more. DERIVED: shares, quarterly sums and average import values. The 20 tonne threshold has not been sensitivity-tested.

What a buyer can do now

1. Find the producer on your invoice. The duty runs from USD 37 to USD 483 a tonne by producer, so two cargoes from the same country can carry very different duty. Country of origin alone does not tell you the rate.
2. Check the grade. The duty covers liquid epoxy resin with an equivalent weight of 250 g/eq or less. Solid, solution, waterborne, blended, modified and brominated resins are excluded. Ask the supplier for the equivalent weight on the certificate of analysis and keep it with the bill of entry.
3. Ask for the duty as its own line in every quote. The duty is a fixed amount a tonne, paid at the customs exchange rate on the bill of entry date. A quote that separates product value, freight, duty and exchange rate lets you see which one moved.
4. Check the route and the basic duty. A cargo that was made elsewhere but exported from one of the five named countries carries the same rate. Basic customs duty on line 3907 30 10 was nil only until 15 July 2026, so check the current rate in the tariff before you compare quotes.
5. Do not read the customs average as a quote. An average import value across all epoxy grades is not the price of your grade. Use it to see where supply is coming from, not to set a price.

What to watch: DGTR and CBIC for any amendment, review or appeal on the notification, and the next months of customs data to see whether the origin mix keeps moving. As of 25 October 2026 the DGTR case page lists nothing after the final findings of 18 August 2025, and a search of DGTR's case list for "epoxy" returns this case and an earlier one that DGTR terminated on 15 January 2019.

A web search for an amendment or challenge found none. The CBIC portal did not return the notification when we searched it on 25 October 2026. DGTR also has open cases on phenol and acetone; see our note on the phenol case.

Frequently asked questions

Related reading

• India's phenol anti-dumping case names seven origins: the open DGTR case on phenol, with the customs record for each named origin.
• Phenol and acetone are one price problem: why a buyer of either product is exposed to the market for both.

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Methodology and sources

Scope is India only. Origin figures come from UN Comtrade, India as reporter, HS 390730, by origin and month. Origin-month rows under 20 tonnes are excluded, which removes under 1% of tonnage, and shares are of the filtered total. The 20 tonne threshold has not been sensitivity-tested. Quarterly tonnes are sums of the monthly rows.

Average import values are import value divided by tonnes, CIF, and are not market prices or landed costs. Taiwan is reported under "Other Asia, nes" and is treated as Taiwan, which is an assumption. Read how we treat customs data in our methodology. This note is analysis of public records. It is not investment advice, and it is not advice to buy, sell or time a purchase of any commodity or share.

Sources

1. Customs Notification 33/2025-Customs (ADD), 17 November 2025, as copied by TaxGuru
2. DGTR case page, liquid epoxy resins, file 6/24/2024-DGTR
3. DGTR final findings, 18 August 2025
4. UN Comtrade, India imports, HS 390730
5. Customs Notification 12/2026-Customs, 1 April 2026, as copied by TaxGuru
6. Customs Notification 22/2026-Customs, 30 June 2026, Gazette text published by the Press Information Bureau
7. Press Information Bureau, Ministry of Finance release of 30 June 2026 on the extension
8. Return of the 7.5% rate after 15 July 2026, as reported by A2Z Taxcorp