The forecast for the import of Polymers of Propylene and Olefins to India exhibits a consistent upward trend from 2024 to 2028, with values increasing from 33.484 million kilograms in 2024 to 37.138 million kilograms in 2028. In 2023, the import volume stood at 32.55 million kilograms. The year-on-year variations show an increase of approximately 2.81% from 2023 to 2024, 2.81% from 2024 to 2025, 2.68% from 2025 to 2026, 2.55% from 2026 to 2027, and 2.45% from 2027 to 2028. Over the last five years, the Compound Annual Growth Rate (CAGR) is estimated at around 2.66%.
Future trends to watch for include potential impacts of geopolitical shifts, changes in trade policies, and technological advancements in polymer manufacturing. Additionally, fluctuations in crude oil prices, which significantly influence the cost of raw materials for polymer production, could also play a crucial role in shaping import volumes. Furthermore, India's domestic production capabilities and demand growth in various sectors such as automotive, packaging, and consumer goods will be critical factors to monitor.
