Platts Energy analysts recently predicted that India is expected to become the fastest-growing market for PE demand in the Asia Pacific region over the next 10 years. The annual market demand for PE will increase from the current 3.6 million tons to 8.2 million tons. From 2013 to 2023, the growth rate of Indian PE demand will reach 129%, far exceeding the market growth expectations of 81% in Asia and 87% in China.

In the coming years, India's demand for HDPE, which is widely used in the field of plastic sheets, will further increase. By 2023, India's demand for HDPE is expected to exceed 4 million tons, the market demand for LLDPE will increase to over 3 million tons, and the annual consumption of LDPE will reach 1.2 million tons.

Jim Foster, Chief Analyst of Platts Petrochemical Market, stated that barring any unforeseen circumstances, India will become the second largest PE importer in the Asia Pacific region after China by 2023. He further pointed out that India's PE deficit will reach 3.4 million tons in 2023. Although China's demand for PE still greatly exceeds that of India, the development speed of the Indian market in the next 10 years will be astonishing, and its demand for PE will continue to increase, which will help solve the problem of global PE overcapacity.