India Plastic Market Size & Outlook, 2023-2030
India plastic market, 2018-2030 (US$M)
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India plastic market highlights
- The India plastic market generated a revenue of USD 37,458.0 million in 2023 and is expected to reach USD 53,477.4 million by 2030.
- The India market is expected to grow at a CAGR of 5.2% from 2024 to 2030.
- In terms of segment, packaging was the largest revenue generating end use in 2023.
- Medical Devices is the most lucrative end use segment registering the fastest growth during the forecast period.
Plastic market data book summary
| Market revenue in 2023 | USD 37,458.0 million |
| Market revenue in 2030 | USD 53,477.4 million |
| Growth rate | 5.2% (CAGR from 2023 to 2030) |
| Largest segment | Packaging |
| Fastest growing segment | Medical Devices |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Packaging, Construction, Electricals & Electronics, Automotive, Medical Devices, Agriculture, Furniture & Bedding, Consumer Goods, Utility |
| Key market players worldwide | Basf SE, SABIC, Dow Inc, DuPont de Nemours Inc, Evonik Industries AG, Sumitomo Chemical Co Ltd, Arkema SA, Celanese Corp Class A, Eastman Chemical Co, Chevron Corp, Lotte Chemical, Exxon Mobil Corp, Formosa Plastics Group, Covestro AG, Toray Industries Inc, Mitsui & Co Ltd, Teijin Ltd, INEOS, LG Chem, Lanxess AG, CHIMEI, Huntsman Corp, LyondellBasell Industries NV Class A, Miller Waste Mills |
Other key industry trends
- In terms of revenue, India accounted for 5.9% of the global plastic market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan plastic market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 11,262.7 million by 2030.
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Plastic Market Scope
Plastic Market Companies
| Name | Profile | # Employees | HQ | Website |
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India plastic 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 market will help companies and investors design strategic landscapes.
Packaging was the largest segment with a revenue share of 35.35% in 2023. Horizon Databook has segmented the India plastic market based on packaging, construction, electricals & electronics, automotive, medical devices, agriculture, furniture & bedding, consumer goods, utility covering the revenue growth of each sub-segment from 2018 to 2030.
As of 2023, India had approximately 30,000 plastic manufacturers with an employee strength of around 4 million individuals. Population expansion and the growth of manufacturing sectors such as automotive industry are the key factors driving the plastics market.
Plastics market is a significant contributor to the economic development of India since it finds use in various applications such as automotive, healthcare, electronics, textiles, construction, and FMCG. The demand for plastics in the country has been ascending rapidly owing to the presence of a strong chemical sector, which is supporting the plastics market.
The government of India intends to increase the contribution of manufacturing sector to the country’s economy. According to the India Brand Equity Foundation, manufacturing sector accounted around 17% of the total country’s GDP. Urbanization, rising income levels, and increasing demographic dividend are the factors that support the growing demand and supply of petrochemicals in the country.
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Target buyers of India plastic market databook
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Our clientele includes a mix of plastic market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the India plastic market , including forecasts for subscribers. This country databook contains high-level insights into India plastic market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India plastic market size, by end use, 2018-2030 (US$M)
India Plastic Market Outlook Share, 2023 & 2030 (US$M)
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