India has one of the top Global Plastics and Polymers industries with annual revenue of more than $3 Billion; the Year 1957 marked the onset of the Plastic and Polymers Industry in India with the production of Polystyrene. Since then, the industry has increased and diversified across various sectors and is expected to grow at a CAGR of 8-10% by 2025. It’s one of the largest employers in India, employing more than 40 lakh people. India has more than 30000 processing units majority of which, i.e., more than 80%, are MSMEs that enjoy various benefits under the PLI scheme, thus making them competitive in the global sphere.
The Plastic industry in India has great potential in terms of capacity, infrastructure, and skilled workforce. The capabilities are further augmented by many polymer manufacturers, processing machinery, and mould producers.
Another competency is in the availability of raw materials. Raw materials are abundant in India, allowing it not to depend on imports. Various raw materials like High- and Low-density Polyethylene, polypropylene, and PVCs are manufactured domestically.
The Department of Chemicals and Petrochemicals has introduced a proposal to set up ten plastic parks across various states within the country, out of which six have already been given the final nod to start their operations.
These parks aim to promote sustainability in the plastics and polymers industry and make the industry ready for the future by covering the operational and supply chain gaps.
Indian plastics and polymers industry has witnessed a growth in recent years due to supply chain disruptions in China which have caused many global companies to shift their sourcing from India. During the Fiscal Year 2021, India exported plastics raw materials to the tune of $3.29 billion even with restricted operations.
The Indian plastics industry manufactures and exports a wide variety of raw materials, with a significant share coming from plastic sheets, films, and plates at US$ 1.5 billion.
Para Tertiary Butyl Phenol (PTBP)
2-Acrylamido 2-Methyl Propane Sulphonic Acid (ATBS)
2,4-Di Tertiary Butyl Phenol (2,4-DTBP)
Para Tertiary Butyl Benzoic Acid (PTBBA)
Ethylene Bis Stearamide (EBS)
Dimethyl Acetoacetamide (DMAAA)