20 June 2012 14:32 [Source: ICIS news]
MADRID (ICIS)--Demand for acetone in India is expected to grow by at least 10% annually from 2012 to 2015, driven mainly by growth in the key downstream pharmaceuticals sector, said Debashish Nandi, vice president of Reliance Industries, on Wednesday.
Speaking at the 7th ICIS World Phenol-Acetone Conference in Madrid, Nandi said Indian demand for acetone reached 160,000 tonnes in 2011 and is projected to reach 225,000 tonnes in 2015.
The key growth driver is from the downstream pharmaceuticals sector, which currently accounts for 66% of total acetone consumption in India, the Reliance Industries vice president said.
India is still highly dependent on imported material, Nandi said, adding that 160,000 tonnes entered the country last year.
More than 65% of current Indian acetone demand is met by imports, he said.
The 7th ICIS World Phenol-Acetone Conference runs from 19-20 June.
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