Global plastics production has grown tremendously in recent decades. Plastics help us preserve food, insulate constructions, use electronics and make vehicles more fuel-efficient, among other things. Yet, the sheer magnitude of plastics consumption in our societies results in a high production-related carbon footprint, high volumes of waste, persistent pollution and harm to wildlife and ecosystem. In recent years, growing awareness of plastic pollution has steered public opinion and paved the way for stronger policy intervention on this front. The OECD Global Plastics Outlook reports seek to inform and support these efforts. According to a recent report by the Organisation for Economic Cooperation and Development, the amount of plastic waste produced globally is on track to almost triple by 2060, with around half of it ending up in landfills and less than a fifth recycled. In the global plastics policy outlook, the report says that without radical action to curb demand, increase product lifespans and improve waste management and recyclability, plastic pollution will rise in tandem with an almost threefold increase in plastics use driven by rising populations and incomes. The report estimates that almost two-thirds of plastic waste in 2060 will be from short-lived items such as packaging, low-cost products and textiles. The report also projects that global plastics consumption should rise to 1,231 Mt by 2060 in the absence of bold new policies and rise in most raw materials and growth will be fastest in emerging countries of Africa and Asia, although OECD countries will still produce much more plastic waste per person (238 kg per year on average) in 2060 than non-OECD countries (77 kg). The global plastic market is projected to grow from $457.73 billion in 2022 to $643.37 billion by 2029, at a CAGR of 5.0% in the forecast period from 2022-2029. Supreme Industries Ltd is one of the largest plastic processor in India with sales of over 4 lakh MT annually. The company has a presence in the Indian plastic industry for over 56 years under the present management.
It has a diversified revenue model with a large product portfolio across 4 verticals such as Plastic Piping Division, Consumer Products, Packaging Products and Industry products. Supreme Industries has 26 manufacturing plants situated across India with an asset base of over Rs 3,500 crore. The company has two more factories envisaged along with several brown field expansion plans during FY 2022-23. The Supreme Industries stock currently quoting at Rs 2,500 on the Indian stock exchanges can be accumulated by portfolio investors for long term investment.
Rajiv Kapoor is a share broker, certified mutual fund expert and MDRT insurance agent.