02 February 2012 18:42 [Source: ICIS news]
NEW DEHLI (ICIS)--Polyolefins demand in the Indian subcontinent is expected to hit 9.6m tonnes in 2015, with polypropylene (PP) demand growing faster than that for polyethylene (PE), an executive said on Thursday.
Polyolefins demand in the region was expected to touch 7.16m in 2012.
Demand for PP was projected to expand at 12.8%year to 5.06m tonnes in 2015, up from 3.76m tonnes in 2012. PE was likely to grow at a slower pace of 9.2%/year to 4.55m tonnes, up from 3.4m tonnes in 2012.
“The region will be a regular importer of 250,000 tonnes/year of PE and 850,000 tonnes/year of PP,” said Sidhartha Mitra, executive director of petrochemicals at Indian Oil Corp (IOC). He made his comments during PlastIndia in New Delhi.
The subcontinent market was also opening up to polyolefns trade.
IOC has for the first time moved a consignment by truck to Pakistan, Mitra said. The company usually exports 5,000-6,000 tonnes/month of PE and PP by rail.
Mitra acknowledged that the last nine months have been challenging as Indian demand growth has slowed.
“But the fundamentals are strong. PP growth will be in double digit while it will be high single digit for PE,” he said.
The 8th PlastIndia exhibition is being held in New Delhi from 1–6 February.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections