Ethylene Industry India Accounts for 9 Percent of Total Ethylene Capacity in Asia Pacific
India's booming economy fires the demand for plastics and polymers - butalso the domestic production of basic materials. In 2012, India accounted for nearly ten percent of global ethylene production, recent figures show...
India is one of the leading growing and developing economies of the world, which shows a healthy growth potential for any industry. The economy is now witnessing changes in growing consumerism driven lifestyles even outside the metros apart from increased industrial output. This growth is fed by increased industrial production.
One such multiple application organic compound, which is seeing rapid growth in India, is Ethylene. Asia Pacific accounted for nearly 50 per cent of the global demand value of $91 billion in 2010, and India accounted for nearly 9 per cent of the total ethylene capacity in this region.
More than One Third of Ethylene Markets in Asia
The leading players in the Indian ethylene industry in 2010 were Reliance Industries (RIL), Indian Oil Corporation (IOCL), Haldia Petrochemicals, and GAIL India. With the Indian ethylene plant capacity crossing four MMTPA in the year 2010, the Indian ethylene industry faced tough competition from neighbor China, which is the leader in the Asia Pacific ethylene market.
According to Research & Markets, the Asia Pacific region will continue to dominate the ethylene market in the future and generate more than a third of the worldwide demand.