Market Share of India Rigid Plastic Packaging Industry
The Indian rigid plastic packaging market is highly competitive. Numerous manufacturing enterprises are operating in the country, which has led to a highly fragmented industry. The market players are trying to maintain dominance by investing in R&D, incorporating new technology into their products, and delivering improved consumer products. Strategic alliances, agreements, mergers, and partnerships are a few strategies employed.
- In November 2022, the Indian Institute of Science and Manjushree Technopack Ltd. collaborated to create methods to convert garbage into plastic packaging so that goods are recycled again. The organizations will also work together to improve the tops of PET bottles made entirely of recyclable plastic and produce a recyclable elastomeric material for all plastic pumps and triggers.
- In October 2022, LyondellBasell, a chemical and refining company based in the Netherlands, and Shakti Plastic Industries, a recycler of plastics and polymers based in Mumbai, signed a memorandum of understanding to collaborate on a joint venture to construct and run a fully automated mechanical recycling plant in India. According to both companies, the plant is anticipated to start operating at the end of 2024. The facility will grow to be the biggest in the nation. It will process rigid post-consumer packaging and generate 50 tons of recycled polyethylene (PE) and polypropylene (PP) annually, equal to the single-use plastic waste produced by 12.5 million people.
India Rigid Plastic Packaging Market Leaders
EPL Limited
Time Technoplast Ltd.
Amcor Rigid Plastics
Manjushree Technopack Ltd.
Mold-Tek Packaging Ltd
*Disclaimer: Major Players sorted in no particular order
