India has been a significant player in global plastic exports due to its advanced and sustainable plastic manufacturing technology. The products are competitively priced and of the highest quality, attracting more interest worldwide. India exports plastic to more than 200 countries, and its key destinations include USA, UK, France, Germany, and Japan. But is that all about Indian plastic exports, or is there more than meets the eye? To know the answer, attend PLEXCONNECT 2024, a plastic exhibition organised in Mumbai.
Analysing India’s Plastic Export Market Trends
Here’s a quick analysis of the country’s plastic export trade:
2022
From April to September, India’s plastic exports were estimated to be valued at USD 6.38 billion. During the same period, the exports of pipes and fittings, medical items, and raw materials increased 17.9%, 24.8%, and 32.3%, respectively.
The aggregate plastic exports for 2021-22 were estimated to be USD 13.34 billion, a 33.34% increase compared to the same period last year. The largest exported category was plastic raw materials, which comprised around 30.7% of total exports. Meanwhile, plastic film and sheets were the second largest export category, constituting around 15.2% of total plastic exports.
2023
As any industry has experienced declines in its history, India’s plastic exports witnessed the same in November 2023. During this time, the total plastic exports were valued at USD 892 million, a 5.6% decline compared to November 2022. If you look at the total plastic exports from April to November 2023, they were valued at USD 7,405 million, which was around 9.4% lower than the exports in the previous year. Despite such a decline, certain sectors performed reasonably well, including floor coverings, packaging items, human hair, FRP and composites, etc.
2024
Indian plastic exports seemed to perform well at the beginning of 2024. They were registered at USD 997 million in February 2024, compared to USD 872 million in February 2023. During this period, plastic exports grew across various product panels, including raw materials, woven fabrics, tarpaulin, fishnets and monofilaments, floor covering, pipes, and fittings. In February, exports of cordage, fishnets, and monofilaments witnessed a growth of 29.7%; meanwhile, exports of flexible and rigid packaging items were enhanced by 27.3%. These are just a few examples of plastic export surges, while more are expected in the near future.
PLEXCONCIL: Aimed at Pushing India’s Plastic Exports
Popular as the apex body of the plastic industry in India, PLEXCONCIL is determined to take India’s plastic exports forward. Thus, it collaborates with international trade associations and organises reverse buyer-seller meets so that Indian exports get more exposure to international markets. And what’s more? The council is about to organise a plastic exhibition in Mumbai- PLEXCONNECT 2024, which you must visit if you are a keen player in the Indian plastic industry.
