India’s domestic PVC market strengthens as consecutive price hikes boost sentiment

India’s domestic PVC market has entered a firm upward trend as leading local producers continue raising prices, creating a more positive market outlook despite the seasonal slowdown. The latest increases have prompted buyers across downstream industries to closely track market developments, with many balancing cautious purchasing against the need to replenish inventories before prices rise further.

In the latest revision, one of India’s leading refiner and petrochemical producers increased prices for standard PVC (K67) resin by INR4,000/ton ($42/ton), effective July 27, 2026. The latest adjustment builds on previous revisions and establishes a higher benchmark for PVC prices across the domestic market.

PVC prices climb INR9,000/ton in less than two weeks

The latest increase marks the third consecutive price revision by domestic producers within a period of just ten days, confirming that the local PVC market has entered a firm bullish cycle.

Earlier, the producer raised K67 PVC prices by up to INR3,000/ton ($31/ton), while lower K-grade PVC prices increased by INR4,000/ton. This was followed by another INR2,000/ton ($21/ton) increase on July 23. With the latest revision, cumulative gains for the K67 grade have reached INR9,000/ton ($94/ton) in under two weeks.

Following the market leader's announcement, several regional suppliers and other domestic PVC producers also revised their price lists upward to remain aligned with the new market benchmark. Given the leading producer's significant market presence, similar adjustments by competing suppliers typically follow within a short period.

Higher costs and import restrictions support prices

The ongoing rise in domestic PVC prices is being driven by increasing international feedstock costs and elevated freight rates. Higher prices for key raw materials, including EDC and VCM, have significantly increased production costs for resin manufacturers, encouraging suppliers to pass these additional expenses on to the market in order to protect margins.

Import-related factors have also strengthened domestic pricing. The implementation of the Minimum Import Price (MIP) has restricted the entry of low-priced overseas cargoes by setting a minimum landed value for imported material. With fewer low-cost import options available, domestic buyers have increasingly shifted their purchases toward local suppliers.

Processors face increasing cost pressure

Market participants report a growing difference between trading activity and downstream demand. While traders and stockists have accelerated purchases in anticipation of further price increases, processors producing pipes, profiles and cables continue to face mounting pressure on profit margins.

Finished product prices have not increased at the same pace as raw material costs, particularly during the ongoing monsoon season when construction activity remains slower than usual. Even so, many processors are gradually being forced to accept higher replacement costs as the domestic PVC market continues its upward trajectory.

Stay ahead of market trends with the Credco app. For any queries, please reach out via WhatsApp at +91 8448083211.