Performance plastics to re-mould future business dimensions for the Indian plastics industry

29-Jul-10
Performance plastics to re-mould future business dimensions for the Indian plastics industry, says Frost & Sullivan, who is to host ‘Performance Plastic Summit 2010 – Trends and Advances in Performance Plastics’, in August in Mumbai, India is emerging as a global hub for manufacturing; it is therefore imperative to adopt new products, technologies, and better manufacturing practices. According to Frost & Sullivan, performance plastics are high value products that typically outperform the replaced material in terms of exceptional heat resistance, greater chemical and wear resistance, strength, and stiffness and offer dimensional stability among other critical properties. Though the initial price is high, performance plastics can help reduce the lifetime cost, which includes processing cost of the fabricated product. Most of these plastics are offering tremendous value in the Automotive, Appliances, Electrical and Electronics, and Healthcare segments. The major challenges that come in the way of boosting demand for performance plastics in India are low awareness level of the industry and the lack of processing technology all of which are interdependent and need to be addressed together. According to Mamta Wadhwa, Sr. Director, CMF Practice, Frost & Sullivan, South Asia, Middle East, and North Africa, “The key drivers for the growth of engineering plastics market in India would be the macro economic growth, growth of the end user industries propelled due to the increase in domestic manufacturing and MNCs setting up shops. In addition, there is a shift in consumer preferences towards functional and performance oriented products. Though these plastics find applications in a host of industries such as Automotive, Electrical, White goods and appliances, Healthcare, Toys, etc., the biggest application is still the Automotive industry.” The CMF Practice of Frost & Sullivan, the global partnership company, is organizing an Executive Mindxchange “Performance Plastics Summit 2010 – Trends and Advances in Performance Plastics” to create a platform for end users to gain an understanding on key issues, latest developments, and processing requirements of the specialty Plastic industry. This MindXchange will provide and overview of the Indian Specialty Plastic Industry, and will cover topics like Innovations in Specialty Polymers - An R&D Perspective; How High Performance Plastics can meet Auto OEM needs for Improved Vehicle Performance and Regulatory Compliance; Key Product Innovations and Advantages of Using Performance Plastics Across Automotive Segment – A Supplier Perspective; Acceleration of Metal Replacement in Automobiles for Regulatory Compliance and Weight Reduction; How High Performance Plastics can meet changing Consumer needs in Electrical and Electronics - Improving Product Features, Enhance Product Functionality and Product Aesthetics; Necessity and Advantages of using Performance Plastics in the Electronics Industry; Key Product Innovations and Advantages of Using Performance Plastics Across Electrical and Electronics Segment – A Supplier Perspective; Functional Benefits offered by Performance Plastics in Medical Devices/ Equipment. Overall, the summit will be an ideal culmination point for multinationals to showcase latest developments, local players to understand the specialty plastics (understand the specialty plastics market), and end users to look at new and better products. The media partners for the event are Chemical Weekly, Modern Plastics and Polymers, ET Polymers, Bizxchange.com PlasticBiz360.com, Plastemart.com, Popular Plastics and Packaging, Industry 2.0, and Polymerupdate.com.
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