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Polymer consumption in India is poised to grow in 5 years

December 13/2010

(Plastemart) -- Polymer consumption in India, currently pegged at 8 mln tpa, is poised to more than double to 15 mln tons in 5 years, maximum 7 years time, as per Mr Ajay Shah, Senior VP Polymers, Reliance Industries Ltd.


In view of the current per capita consumption of 36 kg in China and 32 kg in Brazil, per capita polymer consumption is poised to grow from its current 8 kg in India. Processing capacity is expected to see a corresponding increase in the next 5-7 years to match this growth in polymer consumption. The highest growth will be seen in the injection molding sector - 2.6 mln tons of the 10 mln tons will be consumed by the injection molders of India in the time period, as per Mr Shah.


The injection molding sector in India witnessed a more than 50% growth year on year, in H1 of financial year 2010-2011. Growth will be driven by the automobile and cell phone manufacturers.


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