Petrochemical & related industries to touch $280 billion by 2020
NEW DELHI: The Indian petrochemicals and its related industries - plastics, packaging and printing - are estimated to touch $280 billion by 2020, a plastics industry body said. The four industries are related to each other and their growth is also interdependent, All India Plastics Industries Association (AIPIA) President Ravi Aggarwal said. Petrochemicals are source of raw material for plastics, which are mostly used in packaging industry. And thereafter, packaging industry uses printing. "....all these are correlated and as per our estimates, the petrochemicals and its related three sectors are estimated to touch $280 billion by 2020," Aggarwal said. Growth of petrochemicals could be a boon for plastics sector as raw material cost will come down for the plastic manufacturers, he added. Aggarwal also informed that AIPIA in association with Dubai-based trade fair organiser Verifair is going to organise a 'P4 expo' in April next year, when all the four industries will showcase their products under one roof. The fair will bring together the entire value chain of plastics industry starting from petrochemicals, packaging and printing. It will also have pavilions from eight countries, including China, Korea, Taiwan, Iran, Turkey, Egypt, Saudi Arabia and European Union.