Published on January 10, 2017

The Indian plastic industry has made significant progress and the diversified rapidly. The industry spans the country and hosts more than 2,000 exporters. The Indian plastics industry offers excellent potential in terms of capacity, infrastructure and skilled manpower

Domestic consumption of plastic is anticipated to touch 20 million Metric Tonnes by 2020. The Indian plastics industry produces and exports a wide range of raw materials. Export of plastic products from India stood at US$ 7.64 billion in FY 2015-16.

As per the recent report, India is planning to test in over 100 million toilets in six years to China's ambitious new Silk Road network and the continued movement of millions of people into cities across Asia, plastic makers face years of strong demand. Because of this there is incredible probability for petrochemical demand to go up because per capita consumption is so low. There is a plastic usage in every utility.

Recently, Prima Plastics Limited, one of the leading players in the Indian plastic moulded furniture industry, has expanded the manufacturing facility in Cameroon (West Africa) which it operates through a joint venture company.

Market analysts have said that, Indian plastic industry is growing with a fast pace and diversified innovation. With the growth of plastic industry petrochemical industry also will take added advantage.