Polymer demand in India growing faster than GDP

The demand for polymer in India is growing faster than the country's gross domestic product (GDP), according to market research group, GlobalData. In its report, "Polymer Industry in India," GlobalData showed that whilst GDP grew at a combined annual growth rate of 7.6% from 2000 to 2011, polymer demand saw an impressive rise of 9.1% annually, despite some setbacks in recession year 2008 and the slowdown in 2011. As India’s long-term economic outlook is positive, the industry is expected to sustain its robust performance. India is the third largest consumer of polymers worldwide, according to GlobalData, behind China and the US. Its share of consumption rose from 3.5% in 2000 to 5.7% in 2011, driven by rapid urbanisation and industrialisation. Commodity plastics account for the lion's share of polymer demand on the sub-continent. Consequently, most capacity additions in recent years have focused on PE, PP, PVC, PET and styrene-butadiene rubber (SBR), which together account for more than 90% of output.
www.globaldata.comAir Jordan 89 Shoes