Lubrizol Commits Largest India Based Investment in Company’s 50+ Year History in Region
Grasim and Lubrizol signed an agreement to establish a 100 KTPA Chlorinated Polyvinyl Chloride (CPVC) manufacturing facility in Bharuch, Gujarat. CPVC is a thermoplastic material that is used in water delivery pipes and industrial liquid handling. The domestic market for CPVC is ~140 KTPA and is expected to grow at a CAGR of 7.5% over the next five years. The market is import-dominated, with imports meeting ~70% of domestic demand; however, with the addition of 100 KTPA capacity over the next five years, import dependency will be reduced to 50% or lower.