A Global Perspective

Started in 1976, with a marketing job at erstwhile Indian Petrochemical Corporation Limited (IPCL), later on acquired by Reliance Industries Limited, Mr. S.K. Ray and his odyssey with polymer has been a fascinating journey. He spearheaded many projects including the launch of polypropylene business for the Reliance Group. In a candid conversation with Mr. Ray; he highlights; the role of Indian Polymer Industry in the global context, its growth and sustainability.

- Harsha Masand

The Covid-19 pandemic has brought in unprecedented crisis across the globe inall the facets of human endeavor. The plastic industry was no exception. While global demand for plastics has increased 3-fold in past three decades, the growth had been spectacular in the developing countries. Demand in India increased nearly 18-fold during this period. Main drivers for growth had been the rapid changes in both demographic and economic factors. The versatility and affordability of plastics helped not only in replacement and supplementation of traditional materials in conventional markets but also creation of new products on plastics material platform. A case in point is the unprecedented growth in IT hardware ushering in global digital revolution supported largely by engineering plastics and specialty polymers. Polymers are used in all sectors of economy. Growth in global demand has since stabilized. It is now a notch ahead of GDP growth.

Due to their superior functionality, lower material and energy footprints, the prevailing pace growth is likely to continue.