Hindustan Petroleum Corporation Ltd. (HPCL), is one of the leading Marketing & Refining public sector entity in India. HPCL is all set to make a big foray into India's petrochemical market.
India is one of the fastest-growing petrochemical markets. The demand for polymer products is growing @6% CAGR, with ~1.5 MMT demand growth every year, driven by strong economic fundamentals & current low per capita consumption. India imports 15 – 20% of polymers requirements and this is likely to continue in future, making it an attractive market for global manufacturers.
HPCL is making a big foray into the Indian petrochemical market by setting up ~2 MMT petrochemical capacity in western India by 2023. In addition, we have planned multiple other capacities in the coming years.
We already have a dedicated petrochemical organization in place with strong marketing experience and capabilities. In addition, our HP Green R&D centre has set up a state-of-the-art polymer application & product testing laboratory to provide technical support to our customer.
HPCL has the ambition to market polymers and petrochemicals to offer a wider portfolio to our customers.
This new business unit is aimed at creating exponential value for the Indian economy, Indian people, our customers and our employees. Harmonizing with the Make in India’s campaign, HPCL Petrochemical business is a major step towards fostering innovation, enhancing skill development, augment intellectual property, facilitate investment & build best in class manufacturing infrastructure. The business will be instrumental in the sustainable economic development of the country & will contribute to the Prime Minister’s goal of making India a 5 trillion economy by 2024.
Best journeys have no destinations, only milestones. Adding to the milestones, HPCL’s foray into the petrochemical business is not just to market products but to deliver happiness by ensuring the supply of quality assured products in the right place at the right time. Our petrochemical business is focused on creating invaluable smiles by unlocking people’s potential & improving the quality of their life.