The polymer industry in India is expected to see steady growth

The polymer industry in India is expected to see steady growth in the future, as Netscribes (India) Pvt. Ltd. Per capita consumption of polymers is still low compared to developed nations which brings with it a latent opportunity for the sector to grow. Though crude oil and naptha prices have been a reason of concern as imports tend to become dearer, India is set to become more self-reliant and grow to suffice its domestic demand for polymers. An analysis of the drivers explains the factors for growth of the market and includes demand from packaging industry, growth in associated manufacturing sectors, increase in usage of polymer products in agriculture, depreciation of rupee and low per capita consumption of polymer. Due to marketing policies varying across sectors and unique attractive packaging surfacing as a potent determinant for success of products, packaging sector is poised for growth. Growth in packaging sector will translate in to strong demand for the polymer industry. Growth is directly linked with its associated sectors that are prime polymer users. Growth in the Indian economy ushers in the development of sectors such as infrastructure, automobiles and consumer goods. These require polymer in their product development and thus pose as significant drivers for the sector. Agriculture constitutes another sector that has emerged as a potential end user for polymers. Be it infrastructural projects such as irrigation or even construction activities, polymers find its applications in such areas. Depreciation of rupee has added to major woes in the cost of imports for the sector. India has witnessed increased domestic demand and with imports slowing down due to increased cost, immense opportunities exists for domestic manufacturers to cater to the rising demand. Finally, India faces low per capita consumption of polymers which poses latent opportunities for the sector. However, the sector is also facing certain challenges. Factors such as rise in crude oil prices and environmental degradation pose as impediments for this sector. Government participation in this sector covers policy resolution for promotion of PCPIR, certain schemes of the Government and formation of Petroleum and Natural Gas Board Act. The major trends identified include usage of polymers in the healthcare sector, improvised marketing offers for polymer buyers, and shift towards gas based production units and investments. The competition section offers a competitive landscape of the players by providing their financials and key financial ratios. It also provides basic information including corporate office address, contact numbers along with year of incorporation. Key financial parameters constitute the financial performances of the players which are followed by business highlights. Strategic recommendations followed by an appendix comprise the concluding section of the report.