Clariant to set up healthcare packaging plant in Tamil Nadu, India
India: Clariant, a Swiss based speciality chemicals company began the
construction of a new Healthcare Packaging manufacturing plant in Cuddalore,
Tamil Nadu. As announced in December 2015, the company would be investing
approximately USD9.44 million in the plant that will manufacture moisture
control products for rapidly growing pharmaceutical packaging market of India.
The plant is expected to be completed by the end of 2017 and would initially
produce desiccant canisters and packets, that will be inserted into the
pharmaceutical packaging to control moisture and protect the stability of the
medicine during storage. The production area would be certified to ISO 8 and comply
to the guidelines and standards of cGMP (current Good Manufacturing Practice)
and US FDA (Food and Drug Administration).
TechSci Research depicts that the setup of Indian plant in addition to Chinese
plant along with merger and acquisitions activities in Asia Pacific would
support Clariant to emerge as one of the leading providers of packaging
products to Asia Pacific healthcare industry. Additionally, healthcare
packaging industry in India would boost demand for plastic (flexible and rigid
plastics) as an efficient and cost effective material type.
According to a recently
released TechSci Research report, “India Masterbatch Market Forecast and Opportunities, 2020”, the masterbatch market in India is projected to cross
USD 1.1 billion by 2020. Masterbatch is mixture of pigments or additives used
as a raw material while processing of plastics so as to impart color or other special
characteristics to processed product. Growing demand from packaging industry,
particularly for flexible packaging, coupled with increasing per capita plastic
consumption is driving the demand for masterbatches in the country