India phenol demand to grow at 6.5% from 2012-2015 - Reliance

20 June 2012 14:04  [Source: ICIS news]

MADRID (ICIS)--Demand for phenol in India is projected to grow by at least 6.5% annually from 2012 to 2015, driven mainly by the key downstream phenol-formaldehyde resins sector, a senior industry executive said on Wednesday.

Debashish Nandi, vice president of Reliance Industries Ltd, said demand for phenol in India was at 230,000 tonnes in 2011 and will reach 300,000 tonnes in 2015.

The major demand driver remains the downstream phenol-formaldehyde resins sector, currently accounting for 62% of total phenol consumption in India, he said at the 7th ICIS World Phenol-Acetone Conference.

The phenol-formaldehyde resins sector is growing at a healthy rate of 10% annually in India, he added.

Phenol-formaldehyde resins are mainly used in plywood and lamination in the housing sector, where urbanisation and increasing household spending are key growth drivers, he said.

The 7th ICIS World Phenol-Acetone Conference runs from 19-20 June.

By: Liu Xin
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