India Plastic Market Size
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 46.48 Billion |
| Market Size (2029) | USD 52.72 Billion |
| CAGR (2024 - 2029) | 6.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Plastic Market Analysis
The Plastic Industry In India Market size is estimated at USD 46.48 billion in 2024, and is expected to reach USD 52.72 billion by 2029, growing at a CAGR of greater than 6.5% during the forecast period (2024-2029).
The plastic industry in India is one of the most important industries in the country's economy. The plastic industry traces its roots back to 1957 when polystyrene was first produced in India. Plastic consumption in India grew by 23-fold since then, reaching about 22 million tons. Per capita plastic consumption also grew from 1 kg per capita to 15 kg per inhabitant. India accounts for about 6% of global plastic use and is the third largest consumer of the material after China and the US. Economic growth and a growing population are expected to continue to drive plastic use in India over the coming decades.
According to estimates, India’s plastic consumption could reach over 160 million metric tons (MT) by 2060, which would be more than double its current share in global plastic consumption. About 40 lakh workers are employed in the Indian plastics industry. The processing units and the exporters are about 30,000 and 2,000, respectively. Of these, 85 to 90% are small and medium enterprises (SMEs). The Indian plastics industry produces a wide range of products, such as plastic and linoleum, houseware products, cordage, fishnets, and floor coverings. It also creates medical items, packaging items, plastic films, pipes, and raw materials, among others. The country mainly exports plastic raw materials, films, sheets, woven sacks, fabrics, tarpaulin, etc. According to the source report, there are 4,953 registered plastic manufacturing/recycling units engaged in plastic activities in 30 states/Union territories of India and 823 non-registered plastic manufacturing/recycling units in 9 states/UTs. These plastic products are exported to more than 150 nations, mostly in Europe, Africa, & Asia.
India’s plastic industry is expected to grow in the coming years as the demand for plastic products in packaging, automotive and construction, consumer goods, and other sectors continues to grow. Technological developments and a growing emphasis on sustainability through the development of environmentally friendly plastics are also contributing to the industry’s growth. Government initiatives promoting manufacturing and a growing middle class are further contributing to the growth of plastic consumption in India.
India Plastic Market Trends
Packaging Segment Holds the Highest Share in the Market
Packaging accounts for the largest proportion of the plastics market in India. The packaging segment in India is thriving in second-tier cities because of the need for plastic packaging for the launch of new products. Both domestic and foreign companies are adopting strategies like joint ventures and partnerships with a positive effect on the growth of the market. The growth of the packaging industry is mainly due to the low cost and flexibility of resins with a low carbon footprint. Last year, India’s plastic packaging production volume reached 4.16 mt in volume, up from 4 mt of the previous year, registering a 3.97 % Y-O-Y growth by volume. The Indian plastic packaging segment is growing at a rapid pace due to the increasing consumption of packaged goods, increasing disposable income, and e-commerce growth. Moreover, several key players are offering a wide variety of plastic packaging options. Technological developments are also taking place in the industry, resulting in the development of new and innovative packaging solutions.
Growth in the Export of Plastic with a Positive Impact on Market Growth
According to the latest plastic export data, exports of plastic material amounted to USD 13.4 billion last year, a year-on-year (YoY) increase of 33.3% from the previous year. The most extensively exported type last year was plastic raw materials, accounting for more than 30% of the absolute exports. It recorded a YoY increase of 26.5%. During May last year, India's exports of plastic and linoleum were valued at USD 1,072 million. In the same period, the volume of exports of medical plastics and plastic films and sheets increased significantly, as did those of pipes and fittings. The volume of exports of FRP and composite materials, packaging goods, and miscellaneous products also increased significantly. The total volume of exports for April and May last year increased by 2.5% YoY to USD 2,174 million, bringing the total value of plastics exports to USD 6.375 billion. In the last year, the volume of plastics exports of plastic raw materials, medical items, and pipes and fittings grew by 32.4%, 24.7%, and 17.8%, respectively.
India Plastic Industry Overview
The Indian plastics market is consolidated due to the limited presence of plastic resin manufacturers in the country. Some of the key players in the market include Jain Irrigation Systems Ltd, Kingfa Science & Technology India Ltd, Mayur Uniquoters Ltd, Nilkamal Ltd, Plastiblends India Ltd, and Responsive Industries Ltd.
India Plastic Market Leaders
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Jain Irrigation Systems Ltd
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Kingfa Science & Technology India Ltd
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Mayur Uniquoters Ltd
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Nilkamal Ltd
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Plastiblends India Ltd
*Disclaimer: Major Players sorted in no particular order
India Plastic Market News
- December 2022: Nilkamal Partnered with Haptik to Deliver a seamless customer experience across platforms. The Haptik-Nilkamal partnership does not only automate WhatsApp commerce at a granular level but also helps customers track their order status and the status of their refund requests and add product discovery as part of their shopping experience.
- June 2022: Jain Irrigation merged its irrigation business with Rivulis to create a global irrigation and climate leader. The combined entity, with ~ USD 750 million in revenues, includes unparalleled market coverage spread across 6 continents and 35 countries driven by innovation, digital, and sustainability.
India Plastic Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Growth in E-Commerce is driving the market growth
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4.3 Market Restraints
- 4.3.1 Envirnomental Concerns and Regulatory Pressures
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4.4 Market Opportunities
- 4.4.1 Technological Advancement will create opportunities in the Market
- 4.5 Insights into Technological Advancements in the Industry
- 4.6 Insights on Various Regulatory Trends Shaping the Market
- 4.7 Insights on Government Regulations Shaping the Market
- 4.8 Value Chain Analysis
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4.9 Porter's Five Forces Analysis
- 4.9.1 Bargaining Power of Suppliers
- 4.9.2 Bargaining Power of Buyers
- 4.9.3 Threat of New Entrants
- 4.9.4 Threat of Substitutes
- 4.9.5 Intensity of Competitive Rivalry
- 4.10 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
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5.1 By Type
- 5.1.1 Traditional Plastics
- 5.1.2 Engineering Plastics
- 5.1.3 Bioplastics
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5.2 By Technology
- 5.2.1 Blow Molding
- 5.2.2 Extrusion
- 5.2.3 Injection Molding
- 5.2.4 Other Technologies
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5.3 By Applicatiopn
- 5.3.1 Packaging
- 5.3.2 Electrical and Electronics
- 5.3.3 Building and Construction
- 5.3.4 Automotive and Transportation
- 5.3.5 Housewares
- 5.3.6 Furniture and Bedding
- 5.3.7 Other Applications
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
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6.2 Company Profiles
- 6.2.1 Jain Irrigation Systems Ltd
- 6.2.2 Kingfa Science & Technology India Ltd
- 6.2.3 Mayur Uniquoters Ltd
- 6.2.4 Nilkamal Ltd
- 6.2.5 Plastiblends India Ltd
- 6.2.6 Responsive Industries Ltd
- 6.2.7 Safari Industries India Ltd
- 6.2.8 Supreme Industries Ltd
- 6.2.9 VIP Industries Ltd
- 6.2.10 Wim Plast Ltd (Cello)*
- *List Not Exhaustive
7. FUTURE MARKET TRENDS
8. DISCLAIMER AND ABOUT US
** Subject To AvailablityIndia Plastic Industry Segmentation
Plastics are organic materials similar to wood, paper, or wool. Plastics are produced using natural products, such as cellulose, coal, natural gas, salt, and crude oil. The report provides insights on technological advancements, various trends shaping the market, and government regulations on the industry. The report includes various players' revenues and key developments in the industry, accompanied by drivers, restraints, and opportunities. The Plastic Industry in India is segmented by type, technology, and application. By type, the market is segmented as traditional plastics, engineering plastics, and bioplastics. By technology, the market is segmented as blow molding, extrusion, injection molding, and other technologies. By application, the market is segmented as packaging, electrical and electronics, building and construction, automotive and transportation, housewares, furniture and bedding, and other applications. The market size and forecasts are provided in terms of value (USD) for all the above segments.
| By Type | Traditional Plastics |
| Engineering Plastics | |
| Bioplastics | |
| By Technology | Blow Molding |
| Extrusion | |
| Injection Molding | |
| Other Technologies | |
| By Applicatiopn | Packaging |
| Electrical and Electronics | |
| Building and Construction | |
| Automotive and Transportation | |
| Housewares | |
| Furniture and Bedding | |
| Other Applications |
India Plastic Market Research FAQs
How big is the India Plastic Industry?
The India Plastic Industry size is expected to reach USD 46.48 billion in 2024 and grow at a CAGR of greater than 6.5% to reach USD 52.72 billion by 2029.
What is the current India Plastic Industry size?
In 2024, the India Plastic Industry size is expected to reach USD 46.48 billion.
Who are the key players in India Plastic Industry?
Jain Irrigation Systems Ltd, Kingfa Science & Technology India Ltd, Mayur Uniquoters Ltd, Nilkamal Ltd and Plastiblends India Ltd are the major companies operating in the India Plastic Industry.
What years does this India Plastic Industry cover, and what was the market size in 2023?
In 2023, the India Plastic Industry size was estimated at USD 43.46 billion. The report covers the India Plastic Industry historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the India Plastic Industry size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Plastic Industry Report
Our comprehensive market research report on the Indian plastic industry provides a deep dive into the sector's dynamics, covering critical aspects such as industry growth drivers, regulatory challenges, and emerging trends. This report offers extensive industry information, including detailed analysis of the Indian polymer industry, plastic manufacturing in India, and the evolving landscape of plastic recycling in the country. By examining key segments like the plastic packaging industry in India and the role of biodegradable plastics, the report provides valuable insights that stakeholders can leverage to navigate the market’s complexities and capitalize on growth opportunities. All insights are meticulously compiled and available in an easy-to-read report pdf format, ensuring accessibility and convenience for our clients.
This industry research also delves into the market’s competitive landscape, highlighting the strategic initiatives of major Indian plastic companies and their focus on innovation and sustainability. The report outlines industry trends, including the rising demand for plastic raw materials, advances in plastic machinery in India, and the increasing emphasis on India’s plastic waste management. By analyzing market data and forecasting future industry sales, our report enables stakeholders to stay ahead of market predictions, make informed decisions, and gain a competitive edge in this rapidly evolving sector.
Statistics for the 2024 India Plastic Industry market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Plastic Industry analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
