Ideal Chemi Plast expands coating resins production in Maharashtra

DIC Corporation announced that subsidiary IDEAL CHEMI PLAST PRIVATE LTD., based in the Indian state of Maharashtra, opened and commenced operations at a new production facility for coating resins for automotive and infrastructure applications in the state’s Supa Japanese Industrial Zone in February 2024. The new facility has tripled IDEAL CHEMI PLAST’s production capacity for coating resins, positioning it to expand this business in India and across South Asia, as well as in the Middle East.

The DIC Group is promoting a strategy aimed at establishing itself as a dominant player in the global industrial polymers market. A core focus of this strategy is to grow the Group’s coating resins business worldwide. The Indian coating resins market, a key target of this effort, is projected to continue seeing annual growth of approximately 9%. The Indian government is promoting “Make in India,” an initiative to build up the country’s manufacturing sector, one feature of which is the provision of incentives to foreign companies that manufacture in India.

By tripling IDEAL CHEMI PLAST’s production capacity for coating resins, this new production facility has boosted the company’s ability to further expand its business by responding to rising domestic demand and offering localized solutions that meet the needs of coating resins customers. To ensure it operates in a manner that does not harm the environment, this new facility has installed a Zero Liquid Discharge (ZLD)* system, enabling it to treat all wastewater internally to produce clean water suitable for industrial use. In a bid to reduce its carbon footprint, the facility has also opted to use clean natural gas and energy-efficient equipment, and has adopted environment-friendly, safe operating practices.

Overview of the new production facility
Location: Supa Japanese Industrial Zone, Ahmednagar District, Maharashtra, India
Site area: 48,500 sq.m
Principal products: Coating resins (acrylic resins, polyester resins, alkyd resins, others)
Applications: Industrial (automotive refinish coatings, coil coatings, others)
Start of operations: February 15, 2024

In its DIC Vision 2030 long-term management plan, the Company set forth a regional strategy of building in growth by expanding its production bases in South Asia. In line with this strategy, the Group will also leverage marketing efforts by subsidiary DIC South Asia Private Limited—which oversees this business in the western part of the region—to bolster the role of IDEAL CHEMI PLAST’s new production facility as a base for supplying coating resins not only in India but also across South Asia, as well as for exporting these products to the Middle East and Africa.

Note: The content of this press release has not been edited by Fibre2Fashion staff.

Fibre2Fashion News Desk (HU)