APIC ’11: India’s polymer demand to grow by 15% in 2011

27 May 2011 03:48  [Source: ICIS news]

FUKUOKA, Japan (ICIS)--India’s polymer demand is expected to grow by 15% in 2011 to 9.7m tonnes, but the country’s polymer consumption is still low compared with other regions in the world, an industry official said on Friday.

India’s consumption of polymer is at 6kg/capita, which is low compared with 73kg/capita in the US, 33kg/capita in China and 24kg/capita in Brazil, said K.G. Ramanathan, president of India's Chemicals and Petrochemicals Manufacturers Association (CPMA).

India’s polymer demand grew by 21% in 2010 and by 22% in 2009, Ramanathan said.

The demand is expected to grow by another 15% in 2012, reaching 11.2m tonnes, Ramanathan added.

Ramanathan was speaking at the Asia Petrochemical Industry Conference (APIC), which is being held at Fukuoka in Japan on 26-27 May.

The Indian economy is also poised to show strong growth in the fiscal year of 2011-2012, growing by an estimated 9%, Ramanathan said.

The global economy is expected to grow by 4.4%, Ramanathan added, citing a projection by the International Monetary Fund (IMF).

By: William Lemos
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