Adani Enterprises reported plans for 2 million tons of new PVC capacity in Mundra, Gujarat, with startup of 1 million tons, in phase one, by December 2026. India’s imports of PVC have trended upward in recent years, hitting a high of 3.2 million tons in 2023. The new PVC plant would be the Adani Group’s, a diversified organization with a world-class transport and utility infrastructure portfolio, first petrochemical venture.

Polyvinyl chloride (PVC) is widely used in construction and agriculture. Demand in India for this polymer has surged with increased government spending on urbanization and modernization.

From 2020 to 2022 India’s PVC imports, nearly all uncompounded polymer, ranged between 1.5 – 2 million tons per year. This rose to 3.2 million tons in 2023, accompanied by historically low prices. China was the top supplier, followed by Japan, Taiwan, South Korea, United States and many others.

India’s imports continued trending strong through May, 2024, the latest trade month currently available. Volume May year to date was 1.3 million tons, down 13% from the peak period in 2023. The average price remained low, noting the average price on imports in May from China of $776/ton, and, from the United States, of $745/ton.

India was, by far, the largest destination for China’s exports of PVC, accounting for just under half of the 1.1 million tons it exported through May 2024 YTD. US exports were shipped much more widely, with India only about 7% of the 1.3 million tons exported through May.

From International Trader Publications’ PVCU World Trade Analysis, a continuously updated analysis of global trade based on all available trade statistics.