Views: 1 Author: Site Editor Publish Time: 2019-04-10 Origin: Site
Author: Dan Jingwen Source: China Chemical Industry News April 4, 2019
In recent years, the Indian automotive market has grown continuously, attracting companies from all over the world to actively invest in India to build polypropylene (PP) compound factories for automobile dashboards and bumpers.
China Modified Plastics Manufacturer Jinfa Technology Co., Ltd. plans to build a second factory in Pune, Maharashtra, increasing its annual production capacity from 50,000 tons to about 100,000 tons. Western companies are also involved. For example, LyondellBasell Industries has factories in three regions of India with a total annual production capacity of 40,000 tons. In addition, Italy-based Sirmax established a joint venture with Autotech Polymer India in 2017 to supply PP polymer products to companies such as Honda Motor Co., Ltd. and Maruti Suzuki India Ltd., and Sirmax plans to double its capacity by 2021. To 40,000 tons/year. Among local Indian companies, Machino Polymers Co., Ltd., which has the largest market share of polypropylene compounds for automobiles, is expanding its Gurgaon production plant. Japanese companies, including local subsidiaries of Mitsui Chemicals, Mitsubishi Chemical and Dairi Refinery Chemical Manufacturing Co., Ltd., operate multiple production plants in the Nimrana industrial zone in Rajasthan. Sumitomo Chemical's subsidiaries have similar businesses in the suburbs of Chennai.
Market participants pointed out that market competition has caused some small and medium-sized enterprises in India to withdraw from the market. This is an opportunity for some foreign companies considering expanding their business. They can invest outside existing production bases and seize the market by acquiring these smaller competitors.