Published on February 25, 2014

Growth of plastic industry has been phenomenon in the past decade. India ranks third after USA and China, as the largest consumer of polymers. Growth in the end user sector like packaging, telecom, consumer durables, non-consumer durables, automotive and many more are has contributed to the increased consumption. Increase in the per capita income of an average Indian and modernization of society has compelled the industry to go for more development and advancement. According to recent report the per capita consumption of plastic in India has increased to 19.4kg in 2013 from 7.4kg in 2010.

Setting up of many polymer industries and plastic industries has been one of the major factors contributing towards this growth. Inception of many small scale plastic industries has been the source of job opportunities for many young professionals in tier II cities. Introduction of many low cost polymer products have proven to be very popular and successful in Indian market. This growth has further brought the name of our country on global scale. Global players like BASF, Du Pont, DSM etc. find India to be very lucrative market. Availability of innovative ideas, technology and ease of labor attract these petrochemical giants to head their investment plans in India.

Introduction of bio plastic is the concept which is gaining attention in the industry. Environmental issues has become very critical as disposing of plastic is very difficult. Government is also encouraging the industry to focus more on environment friendly plastic products. Announcement for many plastic parks in India has been one of the major initiatives taken by central government to encourage this sector.