Gandhinagar, India — Specialty polymer and biobased chemical producer Kraton Corp. is considering expansion of its footprint in India.
An executive with the Houston-based company's Kraton Polymers India Pvt. Ltd. subsidiary said at Plastindia 2018 that the company has $46 million in sales in the country, and is considering a range of options, including local manufacturing, although there was no immediate timeline on that decision.
"Kraton is keen to expand its presence in India and identified it as one of the strategic growth markets in the near future," said Managing Director Govind Khetan. "It takes years to build a chemical plant and capacity, therefore, we are open to all options, including a joint venture with a local partner or investment in the all new plant."
The company believes its customizable range of polymers could be performance enablers in various Indian manufacturing sectors, including automotive, packaging and consumer and personal care products.
At Plastindia, the company showcased its highly modified asphalt to improve road and roof lifespans and various polymer modifiers and solutions for thermoplastic elastomer compounds.
It also demonstrated medical grade synthetic elastomers and polymers and modifiers that it said could be an alternative to PVC.
Kraton currently has two joint ventures in Asia, with Formosa Petrochemical Corp. in Taiwan and Japan Synthetic Rubber Co. in Japan. The Taiwan plant, making hydrogenated styrenic block copolymers, opened in May.