India Expected to Witness Polyethylene Demand Growth by 2023

The application of polyethylene (PE) can be found in various sectors such as automotive, household, packaging, electronic and construction. It is one of the major plastics used in India.

Some incredible advantages that polyethylene offer are:

• Extremely impact resistant
• Fully Recyclable
• Weather-resistant
• Lightweight
• Corrosion-resistant

Let’s look at some of the different types of polyethylene:

• High-density polyethylene (HDPE)
• Medium-density polyethylene (MDPE)
• Low-density polyethylene (LDPE)
• Linear low-density polyethylene (LLDPE)
• Cross-linked polyethylene (PEX)

Moving onto the polyethylene market in Asia-Pacific, India is anticipated to witness the largest polyethylene demand growth to 8.2 million metric tons by 2023. Furthermore, it is estimated that the market will grow at a CAGR of 9% through 23%, compared to China, where the polyethylene market is growing at a CAGR of approximately 7%. India’s polyethylene demand is likely to increase by 129%, surpassing Asia’s projected growth rate of 81% and China’s 87% by 2023.

There has been a rising demand for high-density polyethylene (HDPE), used in the manufacturing of housing appliances and packaging. The production is expected to climb to 4 million metric tons by 2023. The demand for low-density polyethylene (LDPE), used in the manufacture of kitchen equipment is anticipated to reach 1.2 million metric tons in that period. Moreover, the demand for linear low-density polyethylene (LLDPE), used in the making of industrial containers is projected to reach 3 million metric tons by 2023.

India has been a net importer of polyethylene for years now, but it has now become a net exporter starting from early 2018. Due to the rising demand for polyethylene in India, there have been new avenues created for polyethylene production. Reliance Industries Limited, ONGC Petro additions Limited and GAIL Limited have now become the major producers of polyethylene in India.

If you are in the plastic industry, then Plastivision is a great platform for you to showcase your product range and network with industry professionals. Book your booth today!