India’s petchem industry to almost triple by 2020: ASSOCHAM
The petrochemical sector is one of the fastest growing industries in India with a growth rate of 13% owing to persistently-increasing demand and reportedly forms 30% of India’s $120 billion chemical industry, which is set to reach $250 billion by 2020. Indian petrochemical producers are set to make new investments worth more than $25 billion to meet the country’s increasing demand, according to ASSOCHAM.
The report also showed that the country’s polymer consumption has reached 6.2 million tons, representing 3% of global consumption of 200 million tons.
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