Page 13 - Plastics News July 2020

COVID - 19 and Polymer Markets - Implications for the
Indian Plastics Processing Industry

The Plastics Industry is making significant contributions India as compared with other countries are also
to the economic development of various key sectors in constraints which hamper capacity utilization.
the country. The All India Plastics Manufacturers' Association of India
The Indian petrochemical industry which includes the (AIPMA) in collaboration with I.C.I.S put together this
end products like polymers, synthetic fibers, surfactants webinar. The key factors influencing markets and what is
etc. constitute ~20% i.e. ~USD 23 Bn market. in store for the rest of the year. This webinar discussed
Petrochemical products permeate the entire spectrum all the critical issues facing polymer buyers in these
of daily use items and cover almost every sphere of life unprecedented times.
like clothing, housing, construction, furniture, OUR TARGET AUDIENCE:
automobiles, household items, agriculture,
horticulture, irrigation, packaging, medical appliances, Ÿ Business Owners
electronics and electrical etc. These industries hence Ÿ Directors
drive the demand growth of petrochemicals. India offers Ÿ CEO's of the Plastic Industry
a strong opportunity for manufacturing of
SPEAKERS:
petrochemicals in future with its plan to increase the
share of manufacturing in GDP from 16% to 25% by 2022. Ÿ Mr. Himanshu Sanghavi – Managing Director, Vinmar
Plastics are the major product that account for the bulk India
of the Indian petrochemical industry. Ÿ Ms. Malini Hariharan – Market Development Director
The global spread of the coronavirus and the crash in APAC – I.C.I.S
crude oil prices has unleashed tremendous uncertainty Ÿ Ms. Veena Psathare – Senior Editor Manager – I.C.I.S
in the polymer markets. With economic recession on the
The webinar had an attendance of over five hundred
horizon, demand recovery is likely to be slow even as
participants. A lot of interest was generated during this
new capacities are brought on stream.
program, and many of the questions were answered by
Apart from this, the Indian Plastics Processing Industry our esteemed panellists.
faces a lot many additional implications. The Indian
THE WAY FORWARD –
plastics processing industry is highly fragmented and
In these trying times where businesses are shutting down
small and micro players constitute the majority of the
units. India's plastics market depends on labour and people are facing problems, programs like this help
the industry people and give them a more clear view of
intensive equipment which has adversely impacted the
productivity. Unreliable power and high energy costs in how to move forward.

July 2020 13 Plastics News