10 March 2011 02:38 [Source: ICIS news]
TAIPEI (ICIS)--India's polyvinyl chloride (PVC) consumption is expected to grow by over 10% in the financial year ending 31 March 2012, driven by strong growth in the agriculture and infrastructure segments, a senior official from India’s Reliance Industries said on Thursday.
"PVC demand is expected to exceed 2m tonnes/year in the fiscal year 2011-2012, up from 1.87m tonnes/year in the current year," said SS Naik, senior vice president of Reliance’s chloro-vinyls business.
He was speaking at the 5th International Chlor-Alkali and Vinyls Conference organised by CBI Events.
Consumption in 2010-2011 rose by only 5% year on year, largely because of a prolonged monsoon season, which affected buying activity in November and December 2010, said Naik.
"Imports of PVC also slipped by 15% in 2010-2011 to 638,000 tonnes on account of this and [also] the ramping up of operating rates at Chemplast Sanmar's newly started 200,000 tonne/year PVC plant," he added.
India is a net importer of PVC, with a nameplate capacity totalling 1.3m tonnes/year.
"Imports are expected to increase next year, as no additional capacity is due on stream," said Naik.
The pipes and pipe fittings segment, which accounts for 74 % of total demand, is expected to grow at 5%, he said.
The calendaring and wire and cable sectors, each of which account for 7% of PVC consumption, are estimated to show 17% and 13% growth in demand respectively next year, he said.
The two-day 5th International Chlor-Alkali and Vinyls Conference ends on Thursday.
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