India's polymer demand to hit 8.5m tonnes by March 2012

01 February 2012 06:41  [Source: ICIS news]

NEW DELHI (ICIS)--India's polymer demand grew at 12% on average during 2007-2012, hitting 8.5m tonnes in the year that ends in March 2012, an official of the Ministry of Chemicals and Fertilisers said on Wednesday.

Polymer demand is forecast to increase to 22m tonnes per year by 2022, said K Jose Cyriac, secretary of India's Department of Chemicals and Petrochemicals, Ministry of Chemicals and Fertilisers.

He was speaking at the inauguration of India’s largest plastics event, the 8th International Plastics Exhibition and Conference or PlastIndia, which takes place every three years. The six-day event is being held on 1-6 February in New Delhi this year.

Polymer demand will be driven by increased disposable income, rapid urbanisation and the aspirations of the growing young Indian population, Cyria said.

The government wants growth to be based on sustainable development, he added.

Additional reporting by Prema Viswanathan, Chow Bee Lin

By: Ong Sheau Ling
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