09 May 2013 03:02 [Source: ICIS news]Correction: In the ICIS story headlined “APIC '13: India's polymers demand to grow at 10-11% in 2013-2014" dated 9 May 2013, please read in the third paragraph... 11m tonnes/year in 2014... instead of ... 11m tonnes/year in 2013.... A corrected story follows.?xml:namespace>
TAIPEI (ICIS)--India's demand for polymers will grow at 10-11% in 2013 and 2014, spurred by the strong consumption of polyolefins, the Chemicals & Petrochemicals Manufacturers’ Association, India (CPMA) said on Thursday.
The country's demand for polymers will grow from 8.96m tonnes in 2012 to 9.91m tonnes in 2013, it said in a report for the annual Asian Petrochemical Industry Conference (APIC).
Polymer demand in India is expected to grow further to 11m tonnes/year in 2014, it said.
Polyolefins registered demand growth of 13% in 2012 as the economy slowed down due to monetary and fiscal tightening by the government to control inflation, as well as the weakness in global growth, according to the CPMA.
India's demand for polyolefins is expected to grow at 10% and 12% in 2013 and 2014, respectively.
The main drivers of polymer demand in India are packaging, automobiles, construction, health care, among others.
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