Udyamee, Ahmedabad:
Manufacturers of high-performance additives for the PVC and CPVC industries aim to reduce import dependency from the current 65% to 50% over the next five years. According to industry sources, all manufacturers are working towards this goal.
Jagat Chokshi, Managing Director of Silvin Additives, said, “The plastic additives market in India is estimated to be around Rs 3,000 crore. Most players source raw materials from countries like China, Malaysia, Thailand, Poland, and others. We believe the import-to-domestic supply ratio will reach 50:50 by the end of 2030.”
Industry estimates suggest that the plastic additives market will surpass the Rs 4,000 crore mark in the next five years, growing at a CAGR of 6-7% annually.
India’s plastic additives market has experienced significant growth, with imports playing a crucial role in meeting domestic demand. As of 2023, India imported plastics worth approximately US$22.59 billion, according to the United Nations COMTRADE database. Specific to plastic additives, India imported around 12,500 shipments, sourced from 701 suppliers across 838 importers.
Key Supplier Countries:
- Vietnam: Accounted for 40% of India’s plastic additive imports, with approximately 100,219 shipments.
- China: Contributed 24% of the imports, totaling around 58,408 shipments.
- Germany: Made up 6% of the imports, with about 15,849 shipments.
Plastic additives are substances added during manufacturing to modify properties, enhance performance, and improve functionality—such as increasing durability, flexibility, color, and resistance to degradation. While India is striving to reduce imports, there are currently no robust policies to support sustainable production and utilization.
