Wood Plastic Exports For 3 Of The World In India In 2025
India’s wood plastic exports will account for 3% of the world in 2025
According to news from Anxious News, Mumbai industry executives said that the Indian wood plastics industry is hoping to increase its share in the global polymer export market through capacity expansion and technology upgrades. The industry’s goal is to account for at least 2025 Global polymer export market share of 3%.
Ashok Basak, the chairman of the India Wood Plastic Export Promotion Council said that the current global polymer export market is estimated to exceed US$850 billion, and the Indian Wood Plastic Industry currently accounts for only 1% of the global polymer export market. According to PLEXCONCIL, India currently exports wood plastic raw materials and finished products to more than 200 countries around the world.
Basak said: “The wood plastic industry is one of the fastest growing industries in India with great potential for productivity, infrastructure and skilled workforce.” Basak also said: “For fiscal year 2017-2018, we have set an export target of 8.31 billion U.S. dollars, of which exports to the U.S. market will exceed 1 billion U.S. dollars.”