14 July 2011 05:23 [Source: ICIS news]
SINGAPORE (ICIS)--Polyester production in India will roughly double to 8.5m-9.0m tonnes over the next decade, with an annual average growth of 12%, an executive from Reliance Industries said on Thursday.
This means a yearly increase of about 500,000 tonnes, Reliance Industries president for polyester chain Rajen Udeshi said at the 5th Asian Aromatics and Derivatives Conference in Singapore.
Despite the strong growth, India’s production and per capita consumption of polyester is still below the world’s average, Udeshi said.
Global production of polyester is currently at 55m tonnes, translating to an average per capita consumption of 8.5-9.0kg, given that world's population is at 6.5bn, he said.
India, which has a population of 1.2bn people, only has an average polyester per capita consumption of 4.0-4.5kg, Udeshi said.
The aromatics conference runs from 13-14 July.
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