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Indian Plastic Resins To Cross USD 1.9 Billion This Year

As per market researches and studies, it is expected that the PBT and PET resin market will grow over 1.9 billion USD in the year 2015. PET, which is majorly used in packaging industry for bottling drinking water, soft drinks, edible oils and solutions. This is good news for not only the plastic manufacturing industries but also for those industries manufacturing testing instruments as well as production equipments for plastic industry. On the other hand PBT is used for mostly electrical industry. Both these resins have seen a rapid growth in last several years and is expected to follow the trend for next many years. The three major players of PET resin market in India namely Reliance Industries limited, Dhunseri petro-chem and JBF industry. The major players of PBT in the country include BASF, SABIC, SRF, DuPont and Laxness. The demand of these resins has majorly and rapidly increase in various user based industries such as packaging and bottling industries, automobiles industry and electronics.

The reason for such high demand of these resins is that PET has replaced the traditional packaging materials such as glass, aluminium, metal and paper. On the other hand, the reason for high demand for PBT is its high thermal stability, heat resistance, and better electrical features. By increased focus of government on the manufacturing sector in India with Make In India Campaign, The demand for these resins has significantly increased.

News Source:- http://www.plastemart.com/plastic-facts-information.asp?news_id=26888&news=PET-and-PBT-market-in-India-to-surpass-US19-bln

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