India is likely to register the highest polyvinyl chloride (PVC) capacity additions globally by 2028, contributing about 29% of the total capacity additions from upcoming planned and announced projects, according to GlobalData, a leading data and analytics company.
GlobalData’s latest report, “Polyvinyl Chloride (PVC) Industry Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants to 2028” reveals that India is likely to witness a total PVC capacity additions of 2.49 million tonnes per annum (mtpa) during 2024 to 2028 from four planned and an announced project.
Nivedita Roy, Oil and Gas Analyst at GlobalData, comments: “PVC is a high-strength thermoplastic widely used in packaging, construction, and automotive sectors due to its versatile properties such as flexibility and lightweight. The increasing application of PVC in the thriving automotive and electronics industries is further necessitating its capacity additions in the country.”
The highest capacity addition is expected from the “Reliance Industries Dahej PVC Plant 2” with a capacity of 1.20 mtpa. The plant is anticipated to commence PVC production in 2027 in the state of Gujarat. Reliance Industries Ltd has 100% equity as well as the proposed operator of the plant.
Additionally, Reliance Industries is planning to build two more plants –“Reliance Industries Hazira PVC Plant” and “Reliance Industries Vadodara PVC Plant” – in the same state with capacities of 0.05 mtpa and 0.04 mtpa, respectively. The commencement of operations of the plant in Vadodra is planned for 2026, while the plant in Hazira will come online in 2027.
The second highest capacity addition in the country is from “Mundra Petrochem Mundra PVC Plant”. Also located in Gujarat, the plant is currently under the approval stage. It is anticipated to begin operations by 2026 with a capacity of 1 mtpa.
Finally, Veritas India Ltd’s “Veritas Polychem Raigad PVC Plant”, located in the state of Maharashtra, is expected to commence operations in 2027 with an annual production capacity of 0.20 mtpa.
