Page 136 - CW E-Magazine (17-12-2024)

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UTECH INDIA

Indian polyurethane foam market set to grow

at 6.3% CAGR

India’s polyurethane (PU) foam
market size valued at $3.74-bn in
2023, is projected to reach a size of
$6.76-bn by 2032, growing at a CAGR
of 6.3% during 2024-2032. At the
same time, India’s plastics recycling
market is projected to grow from 9.9-mt
in 2023 to 23.7-mt by 2032, at a CAGR
of 9.86%.

According to a statement from the
organisers of UTECH India Sustainable
Polyurethane & Foam Expo (UTECH
ISPUF) and the Plastics Recycling
Show India (PRSI), organised by inter-
national trade-show organisers, Media
Fusion and Crain Communications,
in Mumbai from December 4, India’s
polyethylene terephthalate (PET) President, Indian Footwear Compo- costs, and limited innovation have
recycling industry, is the world’s largest nents Manufacturers Association; hindered its widespread adoption in
recycler, with an impressive recycling Mr. Mahesh Bangad, Chairman, Archi- India. With greater emphasis on experi-
capability of 0.5-mtpa. tects, Engineers & Surveyors Associa- mentation, recyclability, and integra-
tion; Mr. Gaurav Sachdeva, Director, tion into sustainable practices, PU can
“Over the last three years, the sector Chemie Products; Mr. Anuraag Purie, become a key contributor to achieving
has attracted Rs. 10,000-crore in invest- Owner, AS Enterprises; Mr. Jinen Jain, net-zero goals and transforming sectors
ments, spurred by progressive govern- Managing Director, Prakash Textiles like interior design, construction, and
ment policies such as mandating 30% Mills; Mr. Prashant Jain, Director – packaging,” he said.
recycled content in plastic packaging Marketing, Libra Mattress; and Mr.
by 2025 under the Plastic Waste Man- Hufeza Samplewala, President, Asso- Conference agenda
agement Rules,” said Mr. Bhadresh ciation of Furniture Manufacturers and Day 1 featured a series of discus-
Dodhia, Director, Association of PET Traders. sions focused on cutting-edge advance-
Recyclers. ments in the PU and plastics recycling
Mr. Bangad noted that PU is a industries. The PU sessions covered
India currently recycles 95% of its versatile yet underutilised material global market trends with a focus on
PET bottle waste, and the industry is in India’s construction and design in- Asia and sustainability, PU recycling
evolving from downcycling into a cir- dustries. “Currently, only 5-7% of the feasibility, eco-friendly PU solutions,
cular economy model, with food-grade population is aware of its applications, sustainable production in India, and
approved R-PET granules now being leaving a staggering 93% growth innovations in polyol systems. Specifi c
used to manufacture 100% recycled potential untapped. Globally, PU has applications were explored, including
bottles. revolutionised industries with its PU use in construction and bio-polyols
resilience, thermal insulation proper- for rigid applications, along with a fi re-
Dignitaries present at the inaugu- ties, and adaptability in products rang- side chat spotlighting energy effi ciency
ration of the events included Mr. Jai- ing from rigid construction materials to and sustainability in cold storage.
prakash Bhatia, Chairman, Builder’s fl exible furniture solutions. However,
Association of India; Mr. Sanjay Gupta, challenges like fl ammability, application Panels on the plastic recycling

136 Chemical Weekly December 17, 2024

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