Global Petrochemical Shifts: Reliance Profit Rise, India’s Expansion Plans, and Global Cuts

The petrochemical industry is witnessing major developments with direct implications for the polymer market.
Reliance Industries posted an 18% rise in Q2 profit, supported by strong performances in its petrochemical and refining divisions, highlighting resilient demand for polymers and chemicals.

In Asia, South Korea’s petrochemical producers are restructuring, with capacity cuts in naphtha-cracking units, reflecting global demand uncertainties.

Back home, GAIL is considering a greenfield ethane cracker, while Petronet LNG seeks a ₹12,000 crore loan to fund its ₹20,685 crore petrochemical complex, signaling India’s intent to boost domestic capacity.

Meanwhile, the US has sanctioned six Indian firms over trade in Iranian petrochemicals, adding fresh complexity to global supply chains.

These developments indicate that while India’s long-term polymer supply is strengthening through investments, near-term pricing will remain influenced by global capacity adjustments and trade restrictions.

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