Plastic Products and Packaging
Global Plastic Products & Packaging product industry has made a revenue of USD 739 billion in FY 2015. Some 299 million tons of plastics were produced in 2013, representing a 3.9 percent increase over 2012’s output. With a market driven by consumerism and convenience, along with the comparatively low price of plastic materials, demand for plastic is growing.
Plastics industry is one of the fastest growing industries in India. Polyethylene (PE) is the most largely used plastic raw-material by Indian industry, followed by Polypropylene (PP). PE & Polyvinyl Chloride (PVC) are produced in surplus and these materials are exported to international markets. Major export destinations are China, Egypt, UAE, Turkey, Vietnam, and Indonesia.
The industry spans the country and hosts more than 2,000 exporters. The industry has grown amidst issues related to environment, dependence on foreign technology & price pressure. India is one of the most promising exporters of plastics among developing countries. The plastics industry produces and exports a wide range of raw materials, plastic-moulded extruded goods, polyester films, laminates etc.
An organized development addressing cost effective plastic processing along with streamlining operations of recycling of plastics could pave a growth path for the industry as a whole.