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The Current Scenario Of Pvc Industry In India
Sometimes known as industrial plastic, PVC stands for poly vinyl chloride and an important material in the manufacturing of various products across different sectors. There is no doubt that plastics is one of the crucial manufacturing elements in today’s versatile global economy and plays a vital role in driving any country’s economy. In fact, it has been one of the largest and fastest-growing industry sectors of the economy. In today’s times, plastics emerged out as one of the most universally-used and widely used materials all across the world.
With the increasing use of plastics in automobiles, consumer packaging and the result of increased infrastructure spending in India, the plastics industry is set to continue double-digit growth beyond FY 2016.
The demand for plastics is also supposed to almost double to about 20 MMT by 2021 from the existing level of about 10 MMT. It has been found that packaging will be the biggest sector of plastics consumption at 10 MMT by 2021 moving ahead from 6 MMT in 2013. Increasing income levels and growing middle class will move up the demand for plastics in different end use segments such as automobiles, white goods, healthcare etc.
Did you know PVC industry in India is more than 5 decades old with its first manufacturing plant established in 1961? With the launch of various PVC products in 1970s, PVC consumption in country began doubling almost every five years. During 1985 – 1995, adoption of Green Revolution by the country lead to the surged usage of PVC pipes in the agriculture sector due to their exemplary performance. The consumption of PVC increased to 2 MMT by 2012 due to great infrastructure development in the country between 2004 and 2012 and because of contribution of PVC to end use applications including pipes, conduits, wires and cables, doors, partitions and windows.
It is relatively easy to find a PVC compounds manufacturer in India today which was very rare earlier. As it is an element which is used almost in every sector today including agriculture, automobiles, building & construction, electrical and electronics, food and pharmaceuticals, sports & leisure and more. Pipes & fittings industry comprises of 70% share of PVC consumption in the country followed by calendared products at 9%, wire & cables at 6%, and films at 5%. The recent announcements by the Government of India aim to take this industry to new success heights. The industry is all set to experienced great boom in the next few years.