Dow Chemical Plans Capacity Expansion in India
Dow Polyurethanes
Business plans expansion of production capacity by 50% in India
India: Dow Chemical has announced
plans to expand its polyurethane business in India. The company has strategized
to increase its polyurethane (PU) system production facility, situated at
Ratnagiri, Maharashtra by 50%. The company is focusing on new technologies and
is also investing in a new technology center located in Mumbai, to improve
product quality as well as strengthen its customer base in the country. The
company is all set to launch a new strategy, known as ‘Vision 2020’ with the
theme – ‘enabling success of the customers’. The company would showcase its
recent innovations as well as product offerings at the PU Tech Trade Show,
which would take place in Noida from 8-10 March 2017.
TechSci Research
depicts the strategy to improve PU production in India would help Dow Chemical
to increase its market share in the India PU market. Expansion in its product
portfolio and introduction of smarter solutions would also help the company to
expand customer reach and strengthen its position in India.
According to the recently
published report by TechSci Research,
“India
Thermoplastic Elastomers Market By Type, By
End Use Application, Competition Forecast & Opportunities, 2011-2025”, the market of thermoplastic
elastomers in India is anticipated to grow at a CAGR of around 7% during 2016 –
2025. Styrenic Block Copolymers dominated India thermoplastic elastomers market
in 2015, and the segment is expected to continue dominating the market through
2025 owing to its wide range of applications in various industries, ranging
from automotive to consumer durables. During the forecast period, automotive
industry is expected to emerge as the largest end user of TPEs in India, on
account of increasing consumer preference for high performance and lightweight
automobiles in the country. A major share in the demand for thermoplastic
elastomers emanates from Tamil Nadu, Maharashtra, National Capital Region
(NCR), Gujarat, Karnataka and Andhra Pradesh, among others.