India is one of the leading growing and developing economies of the world today 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, as per Taiyou Research. Asia Pacific accounted for nearly 50% of the global demand value of US$91 billion in 2010, and India accounted for nearly 9% of the total ethylene capacity in Asia Pacific.
The leading players in the Indian ethylene industry in 2010 were Reliance Industries, Indian Oil Corporation, Haldia Petrochemicals, and GAIL India Limited. With the Indian ethylene plant capacity crossing 4 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. The Asia-Pacific region will continue to dominate the ethylene market in the future and generate more than a third of the worldwide demand.