Published on December 2, 2013

The unsaturated polymers resin market is set to grow in the coming five years. The market is chiefly driven by domestic consumption. The audience for domestic consumption includes government, NGO and civic bodies. Most of the resin manufactured is used in composite industry. Recently a report was released on the topic “Opportunities in Resin industry in India”. The report revealed very positive notes for the resin industry. It is expected that Polyester Resin Market will reach to 445 Million Pounds by 2018.

In the past few years industry has gained growth and development due to robust economy and GDP growth. In the year 2012-2013 the economy has lost its pace. It had an adverse effect on this industry. The basic raw material needed for manufacturing has become more expensive. Depreciating currency has affected the raw materials being imported for this industry.

In the past week there was news from Mumbai based Gharda Plastics. It is planning to open a commercial scale plant in Panoli, Gujarat. The plant will be making specialized engineering resins like polyetherketone, polybenzimdazole using some new methods of production. The company has been doing RnD for new methods of production and has even come up with some pilot production. The total production capacity of this plant is not decided yet neither the overall investment cost is estimated. The company is in process to make the figures final. The plant is likely to start in April 2015. This addition of new plant will add to the development of this industry and will provide some relief to the associated industries.