P lastic industry is making significant contribution to the economic development and growth of various key sectors in the country such as: A...
P lastic industry is making significant contribution to the economic development and growth of various key sectors in the country such as: Automotive, Construction, Electronics, Healthcare, Textiles, and FMCG etc. Its demand has been growing rapidly at ~10% CAGR to reach 10 MnTPA by FY13. India is currently net importer of PolyEthylene (PE), however with the commissioning of IOCL plant at Panipat, the imports are expected to go down significantly. India observes significant regional diversity in consumption of plastics with Western India accounting for 47%, Northern India for 23% and Southern India for 21%. Bulk of the consumption in Northern India is from end use industries of Auto, packaging (including bulk packaging), plasticulture applications, electronic appliances etc. which are concentrated mostly in UP and Delhi- NCR (>50%). However, plastic processing in other parts like Rajasthan, Punjab, Haryana, Uttarakhand, J&K and Himachal Pradesh are expected to grow based on increased availability of feedstock and higher focus on manufacturing sectors. Northern India is said to have an inherent disadvantage of being away from ports hence a difficult target for low cost supply of plastics through import. However this same situation makes the domestic plastic processing more competitive and provides significant opportunity.
Current low levels of per capita consumption (9.7 Kgs) along with increased growth in end use industries could propel the growth of plastics in North India further. Plastics application in agriculture can also lead to huge monetary benefits as well as improve the overall productivity. Besides Plasticulture can also be a good answer to the falling water table in North India. Additionally, full potential of plastics in food processing is yet to be tapped and that can help in meeting the food and nutrition security of the nation. A report on Plastics Industry Executive Summary 1 Knowledge & Strategy Partner 04 A report on Plastics Industry Indian Plastic industry faces environmental myths and lacks in technology. Going ahead recycling & reuse of plastics could be a foremost step towards fostering innovation and sustainability. Also increased awareness through help of industry groups and Government could help address some of these challenges
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