By standardizing and enhancing the quality of final products, the downstream PVC industry may fully utilize its spare capacity and contribute to $300 million in valuable foreign exchange, according to Muhammad Idrees, Chief Commercial Officer at Engro Polymer & Chemicals Limited.
Pakistan now consumes 1.2 kilogram of PVC per person, compared to 6.1 kg worldwide.
In the upcoming years, rising per capita income, accelerating urbanization, and strong local manufacturing will be the main drivers of growth in our per capita consumption.
EPCL is actively pushing a range of standardized, high-quality PVC products through various consumer engagement and market growth efforts, such as a retail location called thinkPVC.
Pakistan’s PVC Market Capacity
At a media briefing, Mahmood Siddiqui, Vice President manufacturing of the Company, highlighted that, “Since 2015, the Company has invested over $188m in Plant expansion and other upgrade projects for higher efficiency, reliability, and diversification of operations.
In 2021, EPCL enhanced its PVC capacity to 295,000 tons per annum, which is sufficient to fully cater to the local demand and achieve exports as well.”
Muhammad Idrees said that “the Company is collaborating with TDAP to explore global markets for export of value-added PVC downstream products. In the last two years, the Company exported surplus products worth $48m to Turkiye and Middle Eastern markets, while import substitution of around $300m contributed significantly toward solving Pakistan’s balance of payments situation,”
The Company’s 2030 aim is to create the product that is competitive on a worldwide scale, with an emphasis on exports and an increase in domestic Poly-Vinyl usage to international standards.
The Company is aiming to promote Poly-Vinyl as the “Material of Choice” as part of its business strategy, with a focus on value-added products.
Unfortunately, the Government must maintain a supportive business environment with the provision of the required utilities in order for the Company to implement its objectives, maximize the potential of Poly-Vinyl pipes exports, and satisfy growing local demand.
To read our blog on “PVC market growing with wide array of downstream applications,” click here.
