Consumption volume of petrochemicals in India FY 2015-2018

In 2018, there was 42.25 million metric tons of consumption of petrochemicals in India. There was a constant gap in the production and consumption of petrochemicals. Demand for petrochemicals grew at a 5.4 percent compound annual growth rate between the financial years of 2015 to 2018. India imported 11.2 percent of its total demand of petrochemicals; mostly for polymer production. It was expected that the demand would grow by a 7.5 percent compound annual growth rate during the financial years of 2019 to 2023, because of growth in end-user industries like packaging and textiles.