Automobile Industry Expansion Drives the Indian Plastic Market Growth

India plastics market was valued at $2.5 billion in 2024 and is projected to reach $4.2 billion by 2035, growing at a CAGR of 4.8% during the forecast period (2025–2035). The automotive sector is booming with high production of electric and internal combustion engines, leading to a boom in demand for lightweight, high-performance, and durable plastic parts. According to the India Brand Equity Foundation (IBEF), in July 2025, the rapid growth of India's economy had a wide influence on the automotive sector. In FY24, auto sales were 23.85 million units, with electric vehicle output at 100,000 cars and 900,000 two-wheelers, and internal combustion engine vehicles continued their dominance at 20 million two-wheelers and 5 million cars. The auto component industry, accounting for 2.3% of the GDP and employing more than 1.5 million workers, is expected to contribute 5-7% of GDP by 2026. The industry, with an 11% expansion in FY25's first half, is working to reach $100 billion in exports in 7-8 years after already hitting an export value of $21.2 billion in FY24.

Browse the full report description of “India Plastics Market Size, Share & Trends Analysis by Type (Thermoplastics, and Thermosets), and by Application (Packaging, Building & Construction, Automotive, Electrical & Electronics, Household, Leisure & Sports, Agriculture, and Others), Forecast Period (2025-2035)” at https://www.omrglobal.com/industry-reports/india-plastics-market

Recent Developments in the Automotive Industry

• In April 2024, Covestro collaborated with vehicle partners in order to advance car-to-car plastic recycling, keeping with global environmental consciousness and increasing regulatory standards.

• In November 2024, Covestro collaborated with Ausell to drive end-of-life vehicle plastics recycling at a faster pace. The collaboration will transform 1 million polycarbonate water barrels per year into high-performance post-consumer recycled polycarbonates for diverse industries such as electronics and vehicles. The recycled polycarbonates will be converted into high-quality PCR material for automotive engineering uses, closing the loop on plastics recycling and decreasing carbon emissions and waste.

Market Coverage

• The market number available for – 2024-2035

• Base year- 2024

• Forecast period- 2025-2035

• Segment Covered- 

o By Type

o By Application 

• Competitive Landscape - GAIL (India) Ltd., Reliance Industries Ltd., Indian Oil Corporation Limited (IOCL), and Haldia Petrochemicals Ltd

Key questions addressed by the report.

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

India Plastics Market Report Segment

By Type

• Thermoplastics

o Polyethylene (PE)

o Polypropylene (PP)

o Polystyrene (PS)

o Polyvinylchloride (PVC) 

o Polyethylene Terephthalate (PET)

o Others ( Acrylonitrile Butadiene Styrene (ABS), Polymethyl Methacrylate (PMMA), Polycarbonate (PC), and Polyamide (PA / Nylon))

• Thermosets

o Polyurethane (PUR)

o Epoxy Resins

o Phenolic Resins

o Acrylic Resins

o Others (Melamine Formaldehyde (MF), Urea Formaldehyde (UF), and Unsaturated Polyester Resins (UPR))

By Application 

• Packaging
• Building & Construction
• Automotive
• Electrical & Electronics
• Household, Leisure & Sports
• Agriculture
• Others (Healthcare & Medical Devices, Furniture & Fixtures, Industrial Machinery, and Textiles & Fibers)

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