A joint venture of Japan’s Mitsui Chemicals and South Korea’s SKC has officially inaugurated its polyurethane (PU) systems house in Andhra Pradesh, India. The 15,000-tonnes/year facility of MCNS Polyurethanes India Pvt. Ltd. supplies products to Korean and Japanese companies in India in the automotive and appliance sectors. A wholly owned subsidiary of Mitsui Chemicals & SKC Polyurethanes Co., Ltd., MCNS Polyurethanes India started commercial production in July this year.
Growing automobile and refrigerator production in India is being targeted by a new PU systems house in the state of Andhra Pradesh.
India has grown rapidly to become the world’s fifth largest automobile manufacturer, turning out 4,782,896 car and commercial vehicles in 2017. Korean and Japanese manufacturers account for 70% of overall vehicle production in India and are also prominent in the appliance sector, manufacturing 50% of the country’s refrigerators. Most recently Japan’s Panasonic set up a plant in Haryana, India, for the production of refrigerators with capacity of 500,000 units/year. The Indian refrigerator market was pegged at roughly 9 million units in 2016, with strong double-digit growth ongoing. Market penetration is less than 3%, indicating solid growth potential for this market segment.