18 May 2012 03:59 [Source: ICIS news]
By Tahir Ikram
“The petrochemical industry in
“In the aftermath of 2008 [financial] crisis, [the] prognosis for the petrochemical industry of India is still bright and analysts expect it to grow at a 15% CARG [compound annual rate of growth]," Nanavaty said.
He said competitiveness is key to sustained economic growth at the global, regional and national level.
“Hence, irrespective of whether the industry is at the peak or trough of the cycle, it is vital that we pursue every available avenue to enhance competitiveness,” he added.
Butadiene (BD) demand in the country registered a nominal growth of 0.8% in 2011 and is expected to grow at a faster rate of 2% in 2012.
By 2013, demand for butadiene is expected to jump by 50% with the expected start-ups of new styrene butadiene rubber (SBR) and butadiene rubber (BR) plants.
Its demand for styrene totalled 525,000 tonnes/year in 2011, registering a growth of 11%.
In 2011, paraxylene (PX) demand increased by 3.5% and is expected to moderate to 2.1% in 2012, before recovering in 2013, when an 8.7% growth is expected.
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