15 Jul
2025
Petrochemicals are essential to many industries today. From packaging to construction, textiles to electronics, these chemical products help in making everyday materials. In the last few years, some important changes have been happening in this space. New players are joining in, more money is being invested, and major companies are making smart plans.
Polyvinyl Chloride (PVC) is one of the most commonly used petrochemical products. It is found in everything from pipes and cables to furniture and packaging materials. With its wide use, demand for PVC has remained strong. In India, this interest is being noticed by major business groups.
One noticeable change is Adani Group’s increasing focus on making petrochemicals, especially PVC. The group has announced plans to set up a major PVC manufacturing plant at Mundra in Gujarat. The proposed facility is expected to produce around 2 million metric tonnes of PVC every year. This plant is likely to rely on imported feedstock such as ethylene dichloride (EDC) and vinyl chloride monomer (VCM). The goal is to boost local PVC production and cut down on imports.
This move puts Adani in direct competition with Reliance, bringing new momentum and investment to the PVC sector. Industry observers see this as a sign that more players are likely to join, especially in areas where domestic demand is strong, and global supply chains are being reconsidered. According to Allied Market Research, the petrochemicals industry accounted for $468.0 billion in 2024 and is expected to reach $794.0 billion by 2034, citing a CAGR of 5.5% during 2025-2034.
Along with production, supply of raw materials or feedstock is very important in petrochemical manufacturing. Oil and Natural Gas Corporation (ONGC), has recently signed a deal to charter two Very Large Ethane Carriers (VLECs). These massive ships will be used to import ethane from the U.S. to India. Ethane is a key input for making several petrochemical products, including ethylene.
The deal was signed with Japanese shipping company Mitsui O.S.K. Lines (MOL) and South Korea’s Hyundai Glovis. It shows that ONGC is taking steps to build a strong and steady supply chain for its petrochemical operations. These carriers are expected to support ONGC’s future projects in Dahej, Gujarat, and perhaps even in Mangalore.
Petrochemical production is deeply associated with feedstock planning, and such long-term shipping deals can help manage both costs and supply risks.
New players and changes in feedstock supply are reshaping competition in petrochemicals. While businesses like Reliance had an early lead, others with global funding and strong infrastructure are now entering.
Adani is planning a large PVC plant. It's not just about business, it shows that industries are starting to focus on new areas. The group already has access to ports, logistics networks, and energy sources, which can help reduce the cost of setting up large-scale chemical production. Their intention is to become a major force in petrochemicals.
At the same time, existing companies like ONGC are looking at smarter ways to secure their input supplies. Rather than depending on spot purchases, they are working on long-term strategies that involve overseas partnerships and better logistics.
Wrapping upThe industry is witnessing significant changes. With strong demand for products like PVC and ethylene, companies are making bold moves. Moreover, with more companies thinking about feedstock planning, plant location, and logistics, this field is likely to see more developments in the coming years. Though it’s unclear how things will turn out, product development, supply chain planning, and strong infrastructure are expected to influence decisions.
Reach out to our team of experts for in-depth insights into the latest developments and emerging trends in the petrochemicals industry.
✍ **𝑨𝒓𝒕𝒊𝒄𝒍𝒆 𝒘𝒓𝒊𝒕𝒆𝒓: Koyel Ghosh
Koyel Ghosh
Author’s Bio- Koyel Ghosh is a blogger with a strong passion and enjoys writing in miscellaneous domains, as she believes it lets her explore a wide variety of niches. She has an innate interest in creativity and enjoys experimenting with different writing styles. A writer who never stops imagining, she has been serving the corporate industry for the last five years.
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