New Delhi, June 5 || Demand for polyvinyl chloride (PVC) resin in India is expected to grow by 8 per cent per annum to reach 5.5 million metric tonnes (MMT) by FY27, a report said on Wednesday.
Demand for PVC resin witnessed a healthy growth at a CAGR of 6.2 per cent during FY20-FY25, reaching 4.7 million metric tonnes (MMT) last fiscal.
This was achieved on the back of strong demand from end-user industries supported by favourable government policies, said the report by CareEdge Ratings.
Out of India’s total demand for PVC, 95 per cent pertains to suspension PVC resin, and the balance 5 per cent pertains to paste PVC resin.
"The upcoming addition of 2.5 MMT domestic capacity by FY27 is expected to more than double the current production levels, reducing import reliance to an average of 1.4 MMT -- reduction in imports from 62 per cent in FY25 to 30 per cent of overall domestic consumption in FY27," said Rohan Deshmukh, Assistant Director at CareEdge Ratings.