Trends in Indian Plastic Industry and its Strength , Features - Personality

Vaman V. Parekh
Chairman
Nilkamal Ltd.

The trend in Indian Plastic Industry will be an exponential growth due to the following reasons:

• The long term stability of raw material prices for the next few years leading to an uninterrupted growth. The underlying assumption is that the supply would catch up with the demand due to commissioning of increased capacities world over.

• Usage of plastic will be on the rise because of the versatility of usage in sectors like agriculture, construction, automobiles, household furniture, packaging etc. The main reason being all the above sectors are poised for growth as Indian economy goes through a high growth curve.

• As technology develops, the ‘mantra’ would be standardisation and low weight products using plastic materials which are compatible. The challenge would be innovations in many areas and plastic would slowly eat into the share of wood, steel and other materials without compromising the functionality.

Moulded furniture industry would find its growth due to the increase in usage of plastics as primary household furniture in the lower strata, as the per capita income and aspirations go up in our country. There is also a scope for many Value Added Products like storage solutions, utility based products which can cater to the already penetrated households who are by now well aware of the strengths and durability aspects. There is also a trend for hybrid designer chairs for commercial establishments like food courts, malls and offices where vibrant colours and aesthetic looks contribute to the overall ambience.

The infrastructural development and industrialisation taking place at a rapid pace in India would lead to more demand for material handling solutions like crates, pallets etc. across the country.

The trend is upwards and one sees consistent growth happening for the plastic industry without a break in cycle for the next few years. The challenges, as mentioned above for the industry, would be constant innovations and the ability to keep the products affordable during a fluctuating polymer price regime.

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