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Time of issue:2019-09-28 00:00:00
India's polyolefin demand is growing rapidly, 2011 will reach 7.5 million tons
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- Time of issue:2019-09-28 16:24
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(Summary description)
India's polyolefin demand is growing rapidly, 2011 will reach 7.5 million tons
(Summary description)
- Categories:Common problems
- Author:
- Origin:
- Time of issue:2019-09-28 16:24
- Views:
Information
According to estimates by India's largest resin producer Reliance Industries Ltd., the size of the Indian polyolefin market will grow by 12 in 2011.
%, reaching about 7.5 million tons, of which both polypropylene and polyethylene consumption will achieve double-digit growth.
U.K. Saroop, vice president of polypropylene business at Mulhouse-based Reliance Industries, said that India’s national economy is growing rapidly, with GDP growth of 8.3% in the previous year.
The consumption of plastics is also increasing, and there is also a great potential to convert existing applications such as milk bottles or liquid soap packaging into plastic packaging.
He said that demand in some of the industries has shown significant growth, including automotive and packaging materials (this is India's largest PP consumer market) and other packaging markets, such as lids and sealing products,
Furniture and household goods, as well as medical and other industries with relatively small growth rates.
He said that the fastest growing one is PP, and this year's PP growth rate is expected to reach 18%, and then will grow at a rate of 15% in the next 4 or 5 years.
He delivered a speech at Plasimvision 2011 in Mumbai, India, January 20-24, saying that due to the rapid growth of PP usage in India, it is expected to be in 2011.
Domestic PP consumption will increase from the original 2.2 million tons to 2.6 million tons.
He said that with the rapid development of the automotive market, the injection molding industry, one of the largest PP markets, has achieved a growth rate of 12% in recent years.
Saroop said: "We expect to achieve very satisfactory growth in the next few years."
However, according to per capita plastic consumption, India still lags behind many neighboring countries or other emerging economies.
He used PP as an example. The annual per capita usage of Indians is about 2 kilograms, far lower than China's 8.7 kilograms, Southeast Asia's 5.3 kilograms and the Middle East's 9.4 kilograms.
Saroop said that by 2015, India's per capita PP consumption is expected to reach 5-6 kg, when total PP consumption is expected to reach about 4.7 million tons.
Other polyolefin markets are also growing, but not as fast as PP. According to estimates by Reliance Industrial, this year's polyethylene consumption is expected to increase by about 12%, from 2.6 million tons to 2.9 million.
Tons, the PVC market is expected to grow by about 5% to nearly 1.9 million tons.
Saroop said that if other resins are also taken into account, such as PET, nylon and other engineering plastics, India's total plastic consumption this year is expected to reach about 8.5 million tons.
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