NEW DELHI, Aug 18: The size of India’s plastics industry may touch Rs 1.7 lakh crore by 2015 on account of rising consumption of the material for producing various goods, a study has said.
At present, the Rs 1.02 lakh crore sector is growing at a compounded annual growth rate of about 20 per cent, according to an Assocham study.
“The plastics industry is expected to touch Rs 1.7 lakh crore level on the back of multiple factors like increasing demand for the material in production of goods and its usage in packaging of various items,” it said.
The demand for plastics is also likely to double to about 20 million metric tonnes (MMT) by 2015 from the current level of about 10 MMT, Assocham Secretary General D S Rawat said.
Further, the study said the total consumption of plastics in India is about four million tonnes and the waste produced is about two million tonnes.
It is estimated that about 10,000 tonnes per day (TPD) of plastics waste is generated i.E. Nine per cent of 1.2 lakhs TPD of municipal solid waste (MSW) in India.
The plastics waste constitutes two major category of plastics — thermoplastics and thermoset plastics.
Thermoplastics, which contribute about 80 per cent of the total post-consumer plastics waste generated in India, are recyclable plastics, while thermoset plastics account for the remaining 20 per cent, it said.
The study said India has the highest rate of plastic recycling of 60 per cent, followed by South Africa 16 per cent, Japan 12 per cent, China 10 per cent, USA 10 per cent and Europe 7 per cent.
It said that considering the rising demand for plastics, more emphasis must be laid on recycling of waste plastics and use of recycled plastic or its mixture with virgin plastic for manufacturing plastic articles.
The Micro, Small and Medium Enterprises (MSMEs) sector accounts for about 75 per cent of the total number of 26,000 registered plastic processing units in India. (PTI)
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