India Plastic Compounding Market Size & Outlook, 2023-2030
India plastic compounding market, 2019-2030 (US$M)
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India plastic compounding market highlights
- The India plastic compounding market generated a revenue of USD 4,016.3 million in 2023 and is expected to reach USD 7,797.5 million by 2030.
- The India market is expected to grow at a CAGR of 9.9% from 2024 to 2030.
- In terms of segment, polypropylene (pp) was the largest revenue generating product in 2023.
- Thermoplastic Vulcanizates (TPV) is the most lucrative product segment registering the fastest growth during the forecast period.
Plastic compounding market data book summary
| Market revenue in 2023 | USD 4,016.3 million |
| Market revenue in 2030 | USD 7,797.5 million |
| Growth rate | 9.9% (CAGR from 2023 to 2030) |
| Largest segment | Polypropylene (pp) |
| Fastest growing segment | Thermoplastic Vulcanizates (TPV) |
| Historical data | 2019 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Polyethylene (PE), Polypropylene (PP), Thermoplastic Vulcanizates (TPV), Thermoplastic Polyolefins (TPO), Polyvinyl Chloride (PVC), Polystyrene (PS), Polyethylene Terephthalate (PET), Polybutylene Terephthalate (PBT), Polyamide (PA), Polycarbonate (PC), Acrylonitrile Butadiene Systems (ABS), Other Product |
| Key market players worldwide | Basf SE, SABIC, Dow Inc, DL Holdings Group Ltd, LyondellBasell Industries NV Class A, DuPont de Nemours Inc, Asahi Kasei Corp, Covestro AG, Washington Penn, Ascend Performance Materials, Kuraray Co Ltd, Arkema SA, Teijin Ltd, Lanxess AG, Solvay SA, Ravago |
Other key industry trends
- In terms of revenue, India accounted for 6.0% of the global plastic compounding market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China plastic compounding market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 7,797.5 million by 2030.
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Plastic Compounding Market Scope
Plastic Compounding Market Companies
| Name | Profile | # Employees | HQ | Website |
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India plastic compounding market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to plastic compounding market will help companies and investors design strategic landscapes.
Polypropylene (pp) was the largest segment with a revenue share of 30.88% in 2023. Horizon Databook has segmented the India plastic compounding market based on polyethylene (pe), polypropylene (pp), thermoplastic vulcanizates (tpv), thermoplastic polyolefins (tpo), polyvinyl chloride (pvc), polystyrene (ps), polyethylene terephthalate (pet), polybutylene terephthalate (pbt), polyamide (pa), polycarbonate (pc), acrylonitrile butadiene systems (abs), other product covering the revenue growth of each sub-segment from 2019 to 2030.
Growing urbanization, increasing health consciousness, and raising awareness regarding the environment is expected to augment demand for plastic compounding in the various application sectors during the forecast period.
The Indian government has increased its percentage spending on infrastructural development and is focusing on improving manufacturing facilities as a part of its "Make in India" campaign. Strong economic growth coupled with approval of 100% FDI by the government, high standard of living, rapid urbanization and smart city projects, and cheap labor is anticipated to spur end-use industries including general industry, consumer goods and automotive over the forecast period.
However, poor domestic demand for automotive in the country, resulting from the cut on discretionary spending by consumers, weak consumer sentiment, and drop in the demand from export destinations due to the COVID-19 outbreak, is expected to impact the growth of end-use industries such as automotive, electrical & electronics, consumer goods and others in the country.
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Our clientele includes a mix of plastic compounding market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the India plastic compounding market , including forecasts for subscribers. This country databook contains high-level insights into India plastic compounding market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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India plastic compounding market size, by product, 2019-2030 (US$M)
India Plastic Compounding Market Outlook Share, 2023 & 2030 (US$M)
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