GlobalData: India plans massive capacity expansion in plastics production by 2030

India will significantly expand its plastics production capacities in the coming years in order to meet rapidly rising domestic demand. Driven by industrialization, urbanization and a growing manufacturing sector, the country is expected to account for around 20% of globally planned capacity expansions by 2030, according to an analysis by market research company GlobalData.

The report “Global Plastics Market: Key Trends, Product Analysis and Upcoming Projects to 2030” forecasts additional plastics capacities in India of a total of 27.01 million tonnes per year between 2026 and 2030. These expansions are based on 22 projects currently under construction and a further 28 projects in the planning stage.

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According to GlobalData, the capacity expansion will mainly be driven by growing demand from various industries. The largest share is attributed to the packaging sector, which benefits from strong growth in e-commerce and retail. The automotive industry is also increasingly relying on plastics, while consumer goods, electronics and healthcare industries are generating additional demand.

Further momentum for the development of India’s plastics industry is expected from extensive infrastructure programs such as smart city initiatives and new transport corridors, which require large quantities of versatile plastic materials. In addition, government programs such as the establishment of “Plastic Parks” are promoting the development of regional production clusters, strengthening innovation activities and aiming to reduce import dependence while expanding export capabilities.

Companies playing a key role in driving the capacity expansion include Reliance Industries and Bharat Petroleum. Their investments are aimed at meeting rising domestic demand while strengthening India’s position in the global plastics market.

More information: www.globaldata.com

GlobalData, London, UK