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    Home > Chemicals Industry > International Chemical > Covestro India expands PC compound production

    Covestro India expands PC compound production

    • Last Update: 2022-05-16
    • Source: Internet
    • Author: User
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      Covestro India has announced that it has doubled its polycarbonate (PC) compound production capacity at its Greater Noida plant in Uttar Pradesh to meet the needs of electronics and automotive in the country.
    growing market demand

    .

      Anand Srinivasan, managing director of Covestro India, said that the current Indian PC market demand is about 200,000 tons per year, and Covestro accounts for nearly 45% of its market
    .
    As the polycarbonate end-use market is mainly located in northern India, where OEMs are highly concentrated, Covestro decided to expand its Greater Noida plant capacity

    .
    Srinivasan believes that increasing downstream demand from the automotive, electronics and healthcare industries will help drive the PC sheet and film market

    .
    "In 2017, the Indian PC market exceeded $354 million and is expected to exceed $476 million by 2023,

    " Srinivasan added
    .
    Covestro expects an increase in demand from the Indian automotive industry, especially in hybrid and electric vehicles, one of the largest consumer markets for polycarbonate products

    .

      The Indian government is driving the growth of the hybrid and electric vehicle market in India through the National Electric Vehicle Action Plan 2020
    .
    Currently, 16 of India's 28 states have developed dedicated electric vehicle policies to promote the development of electric vehicles

    .
    India sold 230,000 electric two-wheelers in 2021, more than double the sales in 2020

    .



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