Polyurethanes are growing strongly in India and participants are enthusiastic about prospects
by Liz White, UT/ editor
India’s polyurethane sector is expanding at 20 percent a year and above, with gross domestic product (GDP) growth at 8·9 percent.
Given such growth, it is not surprising that an optimistic, confident feeling came from the polyurethane processors and suppliers UTI spoke to during the PU TECH 2011 event, held in Greater Naida, near New Delhi,9·11 March.
Urethanes in India still have lot of growth to come. Globally, per capita use of polyurethane reaches 20 30 kg. In comparison, India’s use per person is still only 250g per year, pointed out Rohit Relan, chair of the PU TECH 2011 organising committee and managing director of the Relan Group and Bharat Seats Ltd.
This level of use shows the 1’vast potential of the Indian population as consumers,” Relan commented, in his opening speech at the show.
And growth in the PU sector is at least 18·22 percent, he emphasised.
India is seeing the “start of a new industrial revolution,” said Steven English, global vice president of Dow Polyurethanes, adding that this advance “is going to be driven by products like PU. Why? Because it’s versatile, and can be used in many ways,” he emphasised, in a 10 March interview at the event.
Looking at India’s GDP growth, “Anything less than 8 percent is now regarded as a slowdown, and the potential exists for 10·12 percent GDP growth,” said Rahul Gautam,…