ChemOrbis 2nd PVC Event: Japanese PVC to gain market share in India
India is expected to become the world’s largest importer of PVC over the short term, with India’s PVC consumption expected to reach 2.97 million tons per year by 2017-2018. Domestic production is forecasted to reach approximately 1.49 million tons by 2017-2018, leaving the Indian market with a deficit of 1.48 million tons to be made up from import sources.
Regarding the question of which countries are likely to see the largest market share of India’s import market, Mr. Bhargava commented that the United States has not recently been a significant supplier to India and this is likely to continue due to high anti-dumping duties on most American PVC producers to India as well as the fact that Shin-Etsu prefers to supply India from its Japanese assets rather than its US plants.
China was also identified as a country that will lose market share in the coming years due to the recent implementation of high anti-dumping duties on Chinese PVC. China’s estimated exports to India in 2014-2015 stood at 300,000 tons, but this is expected to decline to around 50,000 tons by 2017-2018.
Japan, however, is expected to gain market share thanks to preferential duties stemming from a free trade agreement between India and Japan. Mr. Bhargava predicted that Japan’s exports to India would rise from around 30,000 tons in 2014-2015 to approximately 250,000 tons by 2017-2018.
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