India Engineering Plastics Market Size and Share
Market Overview
| Study Period | 2019 - 2030 |
|---|---|
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Volume (2025) | 2.47 Million tons |
| Market Volume (2030) | 3.20 Million tons |
| Growth Rate (2025 - 2030) | 5.31% CAGR |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
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India Engineering Plastics Market Analysis by Mordor Intelligence
The India Engineering Plastics Market size is estimated at 2.47 million tons in 2025, and is expected to reach 3.20 million tons by 2030, at a CAGR of 5.31% during the forecast period (2025-2030). Near-term growth rests on three pillars: government production-linked incentives that reward domestic output of specialty polymers, a steep rise in electric-vehicle adoption that favors lightweight plastic components over metals, and an expanding electronics manufacturing base that requires flame-retardant and EMI-shielding grades. Capacity additions announced by leading producers, combined with integrated petrochemical parks in western and southern states, shorten supply chains and trim logistics costs. Regulations mandating recycled content in beverage bottles accelerate investment in chemical recycling, while volatility in paraxylene and benzene prices continues to pressure margins. Competitive intensity is climbing as both multinational and domestic firms localize production to capture PLI benefits and avoid import duties.
Key Report Takeaways
- By end-user industry, the packaging sector led with a 56.63% India Engineering Plastics market share in 2024, while the electrical and electronics sector is projected to post the fastest growth of 8.28% CAGR through 2030.
- By resin type, polyethylene terephthalate (PET) accounted for a 57.64% share of the India Engineering Plastics market size in 2024, whereas fluoropolymer is anticipated to advance at a 9.02% CAGR between 2025 and 2030.
India Engineering Plastics Market Trends and Insights
Drivers Impact Analysis
| Driver | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Automotive Light-weighting and EV Adoption Boom | +1.8% | National, with concentration in Tamil Nadu, Maharashtra, Gujarat | Medium term (2-4 years) |
| Government PLI Incentives for Specialty Polymers | +1.2% | National, with focus on designated clusters in Gujarat, Telangana, Odisha | Short term (≤ 2 years) |
| Surge in Electronics Manufacturing | +0.9% | Tamil Nadu, Karnataka, Uttar Pradesh electronics clusters | Medium term (2-4 years) |
| Food-grade rPET Mandate for Beverage Bottles | +0.6% | National, with early implementation in metropolitan areas | Short term (≤ 2 years) |
| Rapid Growth of Technical-textile and Fiber Exports | +0.4% | Gujarat, Tamil Nadu, Maharashtra textile hubs | Long term (≥ 4 years) |
| Source: Mordor Intelligence | |||
Automotive Light-weighting and EV Adoption Boom
Automakers are rapidly localizing battery electric vehicles, amplifying demand for flame-retardant polyamides, thermally conductive polycarbonates, and composite modules that displace metal components. The automotive Production Linked Incentive (PLI) scheme’s USD 3.1 billion outlay delivers 13-18% incentives for advanced components, pushing suppliers to expand engineering plastics molding and compounding capacity[1]Ministry of Heavy Industries, “PLI Scheme Progress Report September 2024,” heavyindustries.gov.in. Within three years, domestic value-addition targets of 50% reshape supply chains, favoring local resin producers and molders. Early EV launches by Tata Motors and Maruti Suzuki already incorporate high-temperature nylon housings for power electronics, underlining volume upside. As charging-infrastructure deployment accelerates, demand for weather-resistant enclosures and connector systems reinforces the upward trajectory of the India engineering plastics market.
Government PLI Incentives for Specialty Polymers
The INR 9,400 crore PLI scheme offers 4-6% incentives on incremental sales of qualifying engineering plastics, thereby catalyzing new capacity in niche compounds[2]Press Information Bureau, “PLI Scheme for Chemicals and Petrochemicals,” pib.gov.in. Gujarat Fluorochemicals quadrupled EBITDA after leveraging the scheme to enlarge fluoropolymer output, while ONGC earmarked INR 100,000 crore for integrated petrochemical complexes. The program prioritizes high-value formulations over commodity grades, encouraging domestic firms to license advanced process technology and co-develop novel resin chemistries. Mandatory Bureau of Indian Standards certification lifts product credibility, supporting exports to quality-sensitive markets. First-mover producers gain a cost cushion that partially offsets feedstock volatility during the scale-up process.
Surge in Electronics Manufacturing
Mobile-phone output jumped from 58 million units in 2014–15 to 330 million units in 2023–24 as large-scale manufacturing subsidies fostered import substitution. Precision-molded housings, high-glass-filled connectors, and liquid-crystal-polymer sockets are enjoying rapid offtake in printed-circuit and camera modules. DuPont’s Asia-Pacific revenue rose 11% in 3Q 2024, partly fueled by India’s semiconductor back-end packaging and AI server demand. Planned domestic wafer-fab projects require specialty fluoropolymers and polyimides that maintain dielectric performance at elevated temperatures. Together, these developments deepen the penetration of advanced polymers, reinforcing the growth momentum of the India engineering plastics market.
Food-grade rPET Mandate for Beverage Bottles
Extended Producer Responsibility (EPR) rules require 30% recycled content in plastic packaging by 2025, escalating to 60% by 2028–29, cementing demand for bottle-to-bottle recycled Polyethylene Terephthalate (PET). Investors have poured USD 1.2 billion into recycling facilities, including Ganesha Ecopet’s capacity boost to 42 kilotons and Indorama Ventures’ 100-kiloton joint venture. Short supply of food-grade flakes prompts brand owners to strike long-term offtake agreements that stabilize raw-material availability. The Environmental Compensation mechanism of USD 60–240 per tonne for non-compliance strengthens demand resilience. Consequently, rPET gains accelerate circular-economy adoption within the India engineering plastics market even as mechanical and chemical recycling innovations evolve.
Restraints Impact Analysis
| Restraint | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Feedstock Price Volatility (PX, Benzene, HF) | -1.1% | National, with higher impact on Gujarat, Maharashtra petrochemical clusters | Short term (≤ 2 years) |
| Compliance Costs from EPR and Recycled-content Rules | -0.7% | National, with early impact in metropolitan areas and industrial clusters | Medium term (2-4 years) |
| Under-investment in Certified Recycling Infrastructure | -0.5% | National, with concentration in northern and eastern states | Long term (≥ 4 years) |
| Source: Mordor Intelligence | |||
Feedstock Price Volatility (PX, Benzene, HF)
Spot paraxylene and benzene prices experienced double-digit swings during 2024, eroding spreads for downstream polyesters and polycarbonates. Reliance Industries’ fully integrated Jamnagar complex mitigates margin shocks, yet non-integrated compounders face compressed profitability. Hydrofluoric-acid cost spikes transfer into fluoropolymer pricing, pressuring converters serving electronics and renewable-energy clients. Hedging strategies remain limited in India, compelling many mid-tier players to absorb volatility or pass costs to end users. Consequently, near-term earnings uncertainty drags incremental capacity expansion within the India engineering plastics market.
Compliance Costs from EPR and Recycled-Content Rules
Brand owners and converters face incremental capital expenditure for collection infrastructure, traceability systems, and recycled-grade qualification to satisfy mandated recycled-content thresholds. Smaller packaging players struggle with certification fees and quality-control investments, prompting market consolidation. While penalties drive demand for recyclate, the upfront compliance burden weighs on cash flows for processors. Over time, scale economies and technology upgrades are expected to offset incremental costs, yet the transition period dampens risk appetite for new entrants. These dynamics impose a modest negative bias on growth forecasts for the India engineering plastics market.
Segment Analysis
By End-User Industry: Packaging Holds Sway while Electronics Accelerates
Packaging led the India engineering plastics market with a 56.63% share in 2024, supported by demand from the beverage, food, and e-commerce sectors. The segment benefits from a regulatory push for safer, lighter, and more recycled content packaging, which elevates PET and rPET throughput. Electrical and electronics, although smaller, are advancing at an 8.28% CAGR, reflecting semiconductor fab investments and 5G deployment that crave high-temperature polymers. Automotive lightweighting increases the use of polycarbonate and POM in under-the-hood parts, while the building and construction sector utilizes PVC and CPVC for piping and profiles in housing projects.
Sustained consumption growth anchors converter confidence, prompting the installation of new multilayer bottle lines and cast-film units across Maharashtra and Karnataka. The rise of quick-commerce boosts demand for impact-resistant ABS containers secure enough for cold-chain deliveries. Electronics assemblers in Tamil Nadu specify ESD-safe LCP trays, and their just-in-time delivery norm favors compounders with regional warehouses. Vehicle makers localize polymer sourcing to meet localization thresholds under the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles scheme, offering volume visibility for resin suppliers. Growing medical-device production in Telangana adds niche demand for sterilizable PPS housings.
Note: Segment shares of all individual segments available upon report purchase
By Resin Type: PET Dominance Faces Fluoropolymer Challenge
PET accounted for 57.64% of the India engineering plastics market size in 2024, powered by beverage packaging and polyester filament yarn. Chemical recycling volumes climbed to 50,000 TPA, a modest yet rising figure as FSSAI mandates loom. Polycarbonate, polyamide, and styrene copolymers continued to exhibit solid mid-single-digit growth, driven by momentum in the consumer electronics sector. Fluoropolymers, however, are poised for a 9.02% CAGR to 2030, buoyed by semiconductor clean-room ducting and aggressive expansion by Gujarat Fluorochemicals. PTFE tubing meets the ISO 14644 purity thresholds essential for wafer fabrication, while PVDF membranes address the requirements of lithium-ion battery separators. High-temperature polymers, such as PEEK and LCP, remain niche yet lucrative, serving as materials for aerospace connectors and surgical implants.
Domestic resin majors are embracing backward integration to shield themselves against monomer volatility. Deepak Chem Tech’s polycarbonate project incorporates bisphenol-A and phenol units to reduce raw material imports. Styrene copolymer suppliers are adding high-heat ABS lines to penetrate premium appliance categories. On the demand side, converters opt for flame-retardant formulations that satisfy RoHS and REACH directives, consolidating the value profile of the India engineering plastics market.
Note: Segment shares of all individual segments available upon report purchase
Geography Analysis
Gujarat accounted for the majority of the India engineering plastics market in 2024, driven by integrated complexes at Dahej, Vadodara, and Jhagadia that span feedstock to compounding. Port connectivity, stable utilities, and single-window clearances under the state’s PCPIR framework enhance project economics, drawing over USD 2 billion in polymer investments since 2020. With an estimated 20% share, Maharashtra leverages its automotive and packaging end-markets in Pune and Mumbai, while Tamil Nadu captures roughly 15% share through electronics-rich clusters around Chennai.
Southern states experienced 9–11% annual growth from 2020 to 2024, outpacing the 7.49% national CAGR projected to 2030, as PLI-supported electronics and aerospace activities concentrate in Chennai–Bengaluru corridors. Northern corridors, including Uttar Pradesh and Haryana, are expanding on the back of OEM relocations and consumer durables manufacturing within the Delhi–Mumbai Industrial Corridor. Eastern states remain underrepresented despite their proximity to resources, although planned petrochemical hubs in Odisha could unlock capacity diversification late in the period.
Regulatory divergence shapes regional competitiveness: Gujarat’s expedited environmental approvals contrast with longer cycles in Maharashtra, while Tamil Nadu offers targeted capital subsidies for electronics that indirectly favor engineered resin converters. Emerging tier-2 cities such as Surat, Nashik, and Mysuru present lower land-acquisition costs, attracting medium-scale compounders seeking proximity to end users. Overall, state-level industrial policies, infrastructure readiness, and feedstock logistics combine to dictate capacity deployment trends within the India engineering plastics market.
Competitive Landscape
The India Engineering Plastics Market is moderately concentrated. Vertically integrated majors such as Reliance Industries capture economies of scale across feedstock, polymerization, and downstream conversion, reinforcing bargaining power with automotive OEMs. Specialty-focused players like Gujarat Fluorochemicals emphasize high-margin fluoropolymers and battery materials, while LANXESS India leverages global R&D to supply advanced nylon compounds for EV thermal management. Strategic collaborations also proliferate; OPaL partners with engineering firms to broaden PBT and ABS portfolios, while Indorama Ventures teams with domestic recyclers to guarantee feedstock for high-purity rPET.
India Engineering Plastics Industry Leaders
-
Reliance Industries Limited
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IVL Dhunseri Petrochem Industries Private Limited
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JBF Industries Ltd.
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INEOS
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Chiripal Poly Films
- *Disclaimer: Major Players sorted in no particular order
Recent Industry Developments
- March 2025: Haldia Petrochemicals Ltd., a petrochemical producer in India, unveiled its plan to set up a polycarbonate production facility in West Bengal, backed by an investment of USD 1 billion. By opting to use the available land at its current Haldia site, the company underscores its strategic move towards diversifying deeper into the downstream chemical sector.
- January 2024: Deepak Chem Tech Limited, a fully owned subsidiary of Deepak Nitrite Limited, signed a Memorandum of Understanding with the Gujarat government. The agreement outlines an investment of USD 1.1 billion to set up polycarbonate resins and compounds, methyl methacrylate, polymethyl methacrylate resins and compounds, and aniline production facilities in Dahej.
India Engineering Plastics Market Report Scope
Aerospace, Automotive, Building and Construction, Electrical and Electronics, Industrial and Machinery, Packaging are covered as segments by End User Industry. Fluoropolymer, Liquid Crystal Polymer (LCP), Polyamide (PA), Polybutylene Terephthalate (PBT), Polycarbonate (PC), Polyether Ether Ketone (PEEK), Polyethylene Terephthalate (PET), Polyimide (PI), Polymethyl Methacrylate (PMMA), Polyoxymethylene (POM), Styrene Copolymers (ABS and SAN) are covered as segments by Resin Type.| Automotive |
| Electrical and Electronics |
| Building and Construction |
| Packaging |
| Industrial and Machinery |
| Aerospace |
| Other End-User Industries |
| Fluoropolymers | Ethylenetetrafluoroethylene (ETFE) |
| Fluorinated Ethylene-propylene (FEP) | |
| Polytetrafluoroethylene (PTFE) | |
| Polyvinylfluoride (PVF) | |
| Polyvinylidene Fluoride (PVDF) | |
| Other Sub Resin Types | |
| Liquid Crystal Polymer | |
| Polyamide | Aramid |
| Polyamide (PA) 6 | |
| Polyamide (PA) 66 | |
| Polyphthalamide | |
| Polybutylene Terephthalate | |
| Polycarbonate | |
| Polyether Ether Ketone | |
| Polyethylene Terephthalate | |
| Polyimide | |
| Polymethyl Methacrylate | |
| Polyoxymethylene | |
| Styrene Copolymers (ABS and SAN) |
| By End-User Industry | Automotive | |
| Electrical and Electronics | ||
| Building and Construction | ||
| Packaging | ||
| Industrial and Machinery | ||
| Aerospace | ||
| Other End-User Industries | ||
| By Resin Type | Fluoropolymers | Ethylenetetrafluoroethylene (ETFE) |
| Fluorinated Ethylene-propylene (FEP) | ||
| Polytetrafluoroethylene (PTFE) | ||
| Polyvinylfluoride (PVF) | ||
| Polyvinylidene Fluoride (PVDF) | ||
| Other Sub Resin Types | ||
| Liquid Crystal Polymer | ||
| Polyamide | Aramid | |
| Polyamide (PA) 6 | ||
| Polyamide (PA) 66 | ||
| Polyphthalamide | ||
| Polybutylene Terephthalate | ||
| Polycarbonate | ||
| Polyether Ether Ketone | ||
| Polyethylene Terephthalate | ||
| Polyimide | ||
| Polymethyl Methacrylate | ||
| Polyoxymethylene | ||
| Styrene Copolymers (ABS and SAN) | ||
Market Definition
- End-user Industry - Packaging, Electrical & Electronics, Automotive, Building & Construction, and Others are the end-user industries considered under the engineering plastics market.
- Resin - Under the scope of the study, consumption of virgin resins like Fluoropolymer, Polycarbonate, Polyethylene Terephthalate, Polybutylene Terephthalate, Polyoxymethylene, Polymethyl Methacrylate, Styrene Copolymers, Liquid Crystal Polymer, Polyether Ether Ketone, Polyimide, and Polyamide in the primary forms are considered. Recycling has been provided separately under its individual chapter.
| Keyword | Definition |
|---|---|
| Acetal | This is a rigid material that has a slippery surface. It can easily withstand wear and tear in abusive work environments. This polymer is used for building applications such as gears, bearings, valve components, etc. |
| Acrylic | This synthetic resin is a derivative of acrylic acid. It forms a smooth surface and is mainly used for various indoor applications. The material can also be used for outdoor applications with a special formulation. |
| Cast film | A cast film is made by depositing a layer of plastic onto a surface then solidifying and removing the film from that surface. The plastic layer can be in molten form, in a solution, or in dispersion. |
| Colorants & Pigments | Colorants & Pigments are additives used to change the color of the plastic. They can be a powder or a resin/color premix. |
| Composite material | A composite material is a material that is produced from two or more constituent materials. These constituent materials have dissimilar chemical or physical properties and are merged to create a material with properties unlike the individual elements. |
| Degree of Polymerization (DP) | The number of monomeric units in a macromolecule, polymer, or oligomer molecule is referred to as the degree of polymerization or DP. Plastics with useful physical properties often have DPs in the thousands. |
| Dispersion | To create a suspension or solution of material in another substance, fine, agglomerated solid particles of one substance are dispersed in a liquid or another substance to form a dispersion. |
| Fiberglass | Fiberglass-reinforced plastic is a material made up of glass fibers embedded in a resin matrix. These materials have high tensile and impact strength. Handrails and platforms are two examples of lightweight structural applications that use standard fiberglass. |
| Fiber-reinforced polymer (FRP) | Fiber-reinforced polymer is a composite material made of a polymer matrix reinforced with fibers. The fibers are usually glass, carbon, aramid, or basalt. |
| Flake | This is a dry, peeled-off piece, usually with an uneven surface, and is the base of cellulosic plastics. |
| Fluoropolymers | This is a fluorocarbon-based polymer with multiple carbon-fluorine bonds. It is characterized by high resistance to solvents, acids, and bases. These materials are tough yet easy to machine. Some of the popular fluoropolymers are PTFE, ETFE, PVDF, PVF, etc. |
| Kevlar | Kevlar is the commonly referred name for aramid fiber, which was initially a Dupont brand for aramid fiber. Any group of lightweight, heat-resistant, solid, synthetic, aromatic polyamide materials that are fashioned into fibers, filaments, or sheets is called aramid fiber. They are classified into Para-aramid and Meta-aramid. |
| Laminate | A structure or surface composed of sequential layers of material bonded under pressure and heat to build up to the desired shape and width. |
| Nylon | They are synthetic fiber-forming polyamides formed into yarns and monofilaments. These fibers possess excellent tensile strength, durability, and elasticity. They have high melting points and can resist chemicals and various liquids. |
| PET preform | A preform is an intermediate product that is subsequently blown into a polyethylene terephthalate (PET) bottle or a container. |
| Plastic compounding | Compounding consists of preparing plastic formulations by mixing and/or blending polymers and additives in a molten state to achieve the desired characteristics. These blends are automatically dosed with fixed setpoints usually through feeders/hoppers. |
| Plastic pellets | Plastic pellets, also known as pre-production pellets or nurdles, are the building blocks for nearly every product made of plastic. |
| Polymerization | It is a chemical reaction of several monomer molecules to form polymer chains that form stable covalent bonds. |
| Styrene Copolymers | A copolymer is a polymer derived from more than one species of monomer, and a styrene copolymer is a chain of polymers consisting of styrene and acrylate. |
| Thermoplastics | Thermoplastics are defined as polymers that become soft material when it is heated and becomes hard when it is cooled. Thermoplastics have wide-ranging properties and can be remolded and recycled without affecting their physical properties. |
| Virgin Plastic | It is a basic form of plastic that has never been used, processed, or developed. It may be considered more valuable than recycled or already used materials. |
Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
- Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
