The chemical industry is moving to India in preparation for the post-China era. India is a large country with a population of 1.3 billion, and is estimated to have a high potential, with an annual growth rate of 7%.
Since last year, a clean-up campaign to improve the hygiene environment has been launched, and demand for chemical products is increasing in India. In addition, as it is emerging as the world’s third largest car market in the US and China, demand for petrochemical-related products by global automakers with local production facilities is also expected to increase.
According to the industry on April 29, Hanwha Chemical plans to export CPVC (chlorinated polyvinyl chloride) produced in the Ulsan Petrochemical Industrial Complex 2 plant to India in the first half of this year. CPVC, which is used as a raw material for industrial special pipes, has a chlorine content of about 10% higher than PVC (polyvinyl chloride), which is excellent in heat resistance and corrosion resistance.
By 2019, the Indian government will invest 11.7 trillion won to install 60 million toilets and a sewerage system. Demand for PVC used in pipelines is increasing due to cleaning and cleaning activities throughout India. PVC production from local companies is not enough to import enough quantities from Korea.