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Analysis On The Prospect Of Plastic Mould Industry In India
Nov 13, 2018

After the financial crisis in 2008, the plastic mold industry in India was indeed impacted to a certain extent, especially the important consumer sectors such as automobile mold industry, the demand was low for a time. However, as the economic situation improved, the plastic mold industry would grow strongly, and the optimism of the industry was also increasingly high. India will soon become the world's third largest consumer of plastics, doubling its plastic output from 7.5m tonnes to 15m tonnes a year by 2015, and the plastic mould industry will be in full swing.

India's plastic mold industry will be big

India's plastics industry is more fragmented. About three-quarters of the 55,000 processing units are small and medium-sized companies, accounting for 25 per cent of production. About 2,000 (80% of them small companies) produce textile fibre. The plastics industry is concentrated in Gujarat and maharashtra on India's western coast, close to suppliers of raw materials. India currently ranks eighth in the world in plastic consumption, but it is worth noting that per capita polymer consumption is only 5-6 kg, far lower than the international average of 27 kg, and far lower than China's 17 kg per capita consumption, so there is huge potential for development. According to the all-india plastics manufacturers association, per capita plastic consumption in India will rise to 12 kilograms by 2012. The AIPMA had expected consumption to double in 2010, but that target was delayed by two years because of the financial crisis and weak demand for polymers. In the future, growing demand for household appliances and consumer goods will boost India's domestic demand for plastics. One of the key growth industries is packaging, especially for food and consumer goods with shorter shelf lives.

India's packaging industry is still in its early stages of development and has huge potential. And many of India's locally made consumer goods are still sold in extremely simple packaging. It is worth noting that most of the polymers in India are extruded, with little injection or blow molding. Plastics are mainly used in flexible and inelastic packaging industry, construction industry, household products, electrical appliances and cables

India's consumption-driven economic growth is also driving the domestic plastic mold and machinery industry. India's RajooEngineers manufacturing molds for processing consumer goods has benefited from strong consumer spending. RajooEngineers President SunilJain, who is also chairman of the all-india plastics manufacturers association's machinery, moulds and tools committee, has been urging Indian industry to vigorously develop export markets as the financial crisis has hit major rivals in the us, Europe, Japan and South Korea.

India's machines and molds have a competitive edge thanks to the strong growth of the plastics industry because they are cheap, although many critics say they are not as advanced as their western counterparts. But this is a good time for India to market its products internationally, especially in Africa, Latin America and the Middle East. On the other hand, the rise in polymer consumption in India will also be accompanied by a rise in demand for applicable machinery and raw materials, semi-finished and finished products. From 2009 to 2011 alone, about 30,000 new plastic processing equipment will be needed, with an estimated investment of $9.5 billion

Foreign suppliers of various plastic machinery are also benefiting from strong growth in India's plastics industry. BerndSteinruecke, President of the mumbai-based indo-german chamber of commerce, said India was a "very promising" market for foreign machinery suppliers. India's plastics market is growing, and other industrial sectors related to the use of plastics, such as cars, airlines and telecommunications, will also see increased demand for plastic molds and machinery.