India Plastic Industry Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

India Plastic Market Analysis

The Plastic Industry In India Market size is estimated at USD 46.48 billion in 2024, and is expected to reach USD 52.72 billion by 2029, growing at a CAGR of greater than 6.5% during the forecast period (2024-2029).

The plastic industry in India is one of the most important industries in the country's economy. The plastic industry traces its roots back to 1957 when polystyrene was first produced in India. Plastic consumption in India grew by 23-fold since then, reaching about 22 million tons. Per capita plastic consumption also grew from 1 kg per capita to 15 kg per inhabitant. India accounts for about 6% of global plastic use and is the third largest consumer of the material after China and the US. Economic growth and a growing population are expected to continue to drive plastic use in India over the coming decades.

According to estimates, India’s plastic consumption could reach over 160 million metric tons (MT) by 2060, which would be more than double its current share in global plastic consumption. About 40 lakh workers are employed in the Indian plastics industry. The processing units and the exporters are about 30,000 and 2,000, respectively. Of these, 85 to 90% are small and medium enterprises (SMEs). The Indian plastics industry produces a wide range of products, such as plastic and linoleum, houseware products, cordage, fishnets, and floor coverings. It also creates medical items, packaging items, plastic films, pipes, and raw materials, among others. The country mainly exports plastic raw materials, films, sheets, woven sacks, fabrics, tarpaulin, etc. According to the source report, there are 4,953 registered plastic manufacturing/recycling units engaged in plastic activities in 30 states/Union territories of India and 823 non-registered plastic manufacturing/recycling units in 9 states/UTs. These plastic products are exported to more than 150 nations, mostly in Europe, Africa, & Asia.

India’s plastic industry is expected to grow in the coming years as the demand for plastic products in packaging, automotive and construction, consumer goods, and other sectors continues to grow. Technological developments and a growing emphasis on sustainability through the development of environmentally friendly plastics are also contributing to the industry’s growth. Government initiatives promoting manufacturing and a growing middle class are further contributing to the growth of plastic consumption in India.

India Plastic Market Trends

Packaging Segment Holds the Highest Share in the Market

India Plastic Industry Segmentation

Plastics are organic materials similar to wood, paper, or wool. Plastics are produced using natural products, such as cellulose, coal, natural gas, salt, and crude oil. The report provides insights on technological advancements, various trends shaping the market, and government regulations on the industry. The report includes various players' revenues and key developments in the industry, accompanied by drivers, restraints, and opportunities. The Plastic Industry in India is segmented by type, technology, and application. By type, the market is segmented as traditional plastics, engineering plastics, and bioplastics. By technology, the market is segmented as blow molding, extrusion, injection molding, and other technologies. By application, the market is segmented as packaging, electrical and electronics, building and construction, automotive and transportation, housewares, furniture and bedding, and other applications. The market size and forecasts are provided in terms of value (USD) for all the above segments.