- The entire plastics recycling and PU and foam fraternity explored sustainable innovations in PU foam and plastics recycling at the event.
- Discussions at the conferences addressed Sustainability in Polyurethane, Foam, and Plastics Recycling, with a focus on Industry Advancements.
- India’s Plastics Recycling Industry set to grow at a strong 9.86% CAGR, driving future innovation, along with India’s Polyurethane Foam market set to grow at 6.30% CAGR.
Mumbai, 4th December 2024: Today, the Plastics Recycling Show India (PRSI) and the UTECH India Sustainable Polyurethane & Foam Expo (UTECH ISPUF) made their debuts at Hall 4 of the Bombay Exhibition Centre in Mumbai. These co-located events, which are organized by Media Fusion and Crain Communications, worldwide trade-show organizers, are centered on promoting sustainability in the recycling of polyurethane, foam, and plastics. The events are intended to spur innovation and set new standards for environmentally friendly practices in various sectors, since the plastics recycling market in India is expected to increase at a compound annual growth rate (CAGR) of 9.86% from 9.9 million tons in 2023 to 23.7 million tons by 2032.
With notable dignitaries attending, the event’s inauguration was a lavish affair. Architects, Engineers & Surveyors Association Chairman Mr. Mahesh Bangad; Mr. Anuraag Purie, Owner, AS Enterprises; Mr. Jinen Jain, Managing Director, Prakash Textiles Mills; Mr. Prashant Jain, Director-Marketing, Libra Mattress; Mr. Hufeza Samplewala, President, Association of Furniture Manufacturers and Traders; Mr. Jaiprakash Bhatia, Chairman, Builder’s Association of India; and Mr. Sanjay Gupta, President, Indian Footwear Components Manufacturers Association.
For the plastics recycling show, notable dignitaries included Mr. Ton Emans, President, Plastic Recyclers Europe; Mr. Shailendra Singh, Director General, Association of PET Recyclers – Bharat; Ms. Garima Mishra, Chief Advisor – South East Asia, Alliance to End Plastic Waste; Mr. Prabhakar Milavarapu, CMO, Sri Chakra; Mr. Ankit Jain, Director, Ribotl; Mr. Suresh Varadarajan, Managing Director, SI Group India Pvt Ltd. along with other prominent figures committed to sustainability and innovation in recycling and packaging.
The event also features a pavilion showcasing the Middle East’s leading trade show on mattress manufacturing – Sleep Expo India Pavilion, focused on mattress recycling technologies such as machinery, textiles, and yarn. Sponsored by Duroflex Pvt. Ltd. as the Mattress & Cushioning Partner, the pavilion offers valuable insights into circular economy practices, waste management innovations, and sustainable solutions vital for the industry’s future.
Mr. Bhadresh Dodhia, Director, Association of PET Recyclers (BHARAT), said “With an astounding yearly recycling capacity of 5 lakh tonnes, India’s PET recycling sector, represented by the All-India Plastic Recycling Association (APR), is the largest recycler in the world. Encouraged by progressive government initiatives, such as the Plastic Waste Management Rules’ requirement that plastic packaging contain 30% recycled content by 2025, the industry has drawn ₹10,000 crores in investments over the past three years.
Over the past ten years, India, which is well-known throughout the world for its recycling effectiveness, has managed to recycle 95% of its PET bottle waste. But the industry is moving away from downcycling and toward a circular economy model; 100% recycled bottles are now made using food-grade, authorized ARPET granules. India is poised to dominate the global recycling market and make a substantial contribution to a sustainable future with the help of 50 lakh rag pickers, who are the industry’s backbone, and state-of-the-art equipment.
Mohammad Z Altaf, Country Head, Recaz Chemicals said, “At Recaz Chemicals, we’re committed to driving innovation in the polyurethane industry. With over 30 years of expertise, we’re proud to have established a strong presence in India, holding a 40% market share. Our R&D center in Hyderabad is dedicated to developing cutting-edge solutions, including sustainable and eco-friendly products. As we continue to expand our operations, our goal is to make our products ‘Made in India’, aligning with the country’s vision of self-reliance.
Mr. Hufeza Samplewala, President, Association of Furniture Manufacturers and Traders, said “The furniture industry in India, valued at $25-26 billion, is witnessing remarkable growth, with projections indicating it will nearly double to over $50 billion by 2030, driven by a consistent CAGR of 6-6.5%. This sector is experiencing significant momentum, bolstered by government initiatives such as the development of furniture hubs under the Make in India campaign. These hubs aim to reduce dependency on imports, particularly from countries like China, and promote domestic manufacturing.
A notable shift includes Indian manufacturers expanding their footprint in export markets, including the U.S. and Africa. The exhibition highlights PU foam, a critical raw material for seating systems, which is now increasingly produced locally, reducing reliance on imports. Furthermore, sustainable practices are gaining traction, with innovations in engineered and WPC boards—recycled, eco-friendly alternatives—becoming key components in furniture production. Efforts to standardize the industry are also underway, with the Bureau of Indian Standards introducing comprehensive furniture standards across categories, aiming to elevate quality benchmarks and reduce imports. Addressing challenges such as the high GST rate of 18% and further boosting MSME contributions are critical steps for unlocking the sector’s potential.”
Mr. Mahesh Bangad, Chairman, Architects, Engineers & Surveyors Association, said “Polyurethane (PU) stands as a versatile yet underutilized material in India’s construction and design industries. Currently, only 5-7% of the population is aware of its applications, leaving a staggering 93% growth potential untapped. Globally, PU has revolutionized industries with its resilience, thermal insulation properties, and adaptability in products ranging from rigid construction materials to flexible furniture solutions. However, challenges like flammability, application costs, and limited innovation have hindered its widespread adoption in India.
Mr. Sanjay Gupta, President, Indian Footwear Components Manufacturers Association, said “The Indian footwear market is currently valued at $18 billion, with a target to grow this market to $26 billion by 2030. The overall leather sector in India is valued at $30 billion, with a target to grow to $50 billion. Currently, $6 billion worth of footwear is exported, while $12 billion is sold in the domestic market. The growth in the international market is not as much as in the domestic market. The industry faces challenges such as raw material import, including leather and synthetic materials, and competition from cheaper imports, particularly from China.
Mr. Jayant Khadilkar, Managing Director, Jay Elastomers Pvt. Ltd, said “The polyurethane industry is vast, with various segments such as foam, coatings, sealants, adhesives, elastomers, artificial leather, and binders, all experiencing significant growth. The increasing number of steel plants and demand for specialized polyurethane materials are driving this growth. The Indian market is evolving, with customers valuing quality over cheap pricing, which makes it more sustainable. To foster further growth, government support in reforming the duty structure and offering tax concessions for locally manufactured materials would be beneficial, enabling the industry to thrive while remaining competitive.”
Mr. Shekhar Prabhakar, Co-Founder & CEO, Hasiru Dala Innovations, said “Waste pickers are the backbone of the Indian waste management sector, yet they remain the most marginalized of the urban poor. In Karnataka alone, there are approximately 4.62 lakh waste pickers, who face unpredictable incomes and unacceptable living conditions. Despite their crucial role in recycling, they are often overlooked. Through inclusive circularity, Hasiru Dala Innovations provides waste pickers with access to markets, clean waste, and entrepreneurship opportunities. Since its inception in 2015, the organization has diverted over 100,000 tons of municipal solid waste away from landfills, empowered 27 waste pickers as entrepreneurs, and provided supplemental income to over 1,000 waste pickers.”
Mr. Taher Patrawala, Managing Director, Media Fusion, said ‘The private sector and startups are driving innovation in sustainability, adopting circular economy models that minimize waste and reduce reliance on virgin materials. Sustainability remains at the forefront, with a growing emphasis on eco-friendly materials and energy-efficient manufacturing processes. Along with government supportive policies, these efforts are transforming the industry.
