12th Vinyl India: Industry leaders chart growth

The 12th Vinyl India Business Summit hosted by Elite Plus was held at the Jio World Convention Centre, Mumbai, on 10 and 11 April. This event brought together industry leaders and experts to discuss the future of the vinyl industry, focusing on sustainability, innovation, and growth strategies.

The conference opened with welcome messages from Jim Coulston, chief executive of the Vinyl Council of Australia, and Aine Curran, president and CEO of the Vinyl Institute of Canada. They highlighted the critical applications of PVC in various sectors, including healthcare and infrastructure. Coulston called for collaborative efforts for the industry's growth and sustainability. Curran highlighted successful recycling initiatives in Canada and called for similar efforts in India to enhance the environmental profile of PVC. Both speakers acknowledged the scale and impact of the event, emphasising international cooperation as a key driver of progress in the vinyl value chain.

Anil Singh, chairman of ACG Worldwide, set the context for the event by shedding light on the current state of the industry and emphasising the importance of domestic consumption and production in India. He defended the use of the growth of PVC, saying, “PVC has been vilified unfairly by the media.” He emphasised its role in providing stable, affordable medical packaging and argued for informed policymaking and greater media advocacy to correct misconceptions around the material’s environmental impact.

Following this, there were three keynote speakers—Vivek Jain, managing director of DCW; Anil Jain, vice chairman and CEO of Jain Irrigation Systems; and Ignacio Torras, president and CEO of Tricon Energy. 

Vivek Jain provided a comprehensive overview of the current state of the PVC market in India, backed by data. Speaking about strategies for growth and environmental responsibility, he positioned government programs as huge opportunities for the PVC industry. He revealed that urbanisation and the government’s infrastructural investments will drive India’s PVC consumption. Talking numbers, Jain stated that India’s PVC consumption is set to grow at a CAGR of 7.7% by 2032, with demand expected to reach 7 million tonnes by 2030. 

However, he also acknowledged the drawbacks. India’s per capita PVC consumption was just two to three kilogrammes compared to over 10-kilogrammes in countries like the US and China, and India is largely dependent on PVC imports. 

From 1.9-million tonnes in 2023, imports grew to 2.3 million tonnes in 2024, and are expected to surpass 3 million tonnes in FY25. Jain cautioned that 43% of the imports are from China. He ended his keynote address with optimism, stating, “Vinyl will thrive in 2030 but only if it is smarter, greener, and more essential than ever.” 

Anil Jain, vice chairman and CEO of Jain Irrigation Systems, painted a broader picture of India’s domestic potential. He highlighted the government's infrastructure push through programs like Jal Jeevan Mission and irrigation initiatives aimed at enhancing rural income and food security. He projected that these efforts will drive significant demand for PVC and related products, reaffirming India's position as a growth engine for the industry. His speech struck a hopeful tone: “India’s domestic economy and its aspirational middle class will anchor PVC demand like never before.”

Ignacio Torras shared his expertise on the global trade and distribution of chemicals and plastics, highlighting the role of PVC in various applications. He shed light on the overcapacity issues in China and the role of technology and sustainability. He presented data-backed insights on petrochemical pricing cycles and introduced Tricon’s sustainability efforts, including its role in leading the sustainability committee for the 2026 FIFA World Cup and initiatives promoting neurodiverse inclusion through sports. “The future of vinyl lies not just in innovation, but in our commitment to people and the planet,” he said.

Side note: A running joke among the speakers and delegates at the conference was about US President Donald Trump’s tariffs, which were changing by the minute. Many speakers jokingly apologised if the figures and predictions change in the next 24 hours.