Competent leaders in the polymer industry play a pivotal role in steering companies towards innovation and sustainable solutions. One such noteworthy figure is Deep Vasav, a dynamic professional with a BE in Plastics from the Central Institute of Plastics Engineering and Technology, coupled with an MBA from the Institute of Management Technology, Ghaziabad. Serving as the CEO of Mirai Polymers, a prominent manufacturer, and supplier of customized Thermoplastic Elastomers (TPE) and other thermoplastic compounds, Deep Vasav embodies the qualities of a visionary leader.
His educational background reflects a solid foundation in the technical intricacies of the polymer field, while his leadership at Mirai Polymers demonstrates a strategic blend of business acumen and industry expertise. Under his guidance, Mirai Polymers has thrived as a provider of tailored solutions, contributing to the evolution of the polymer industry towards sustainability and cutting-edge innovations. As a competent leader, Deep exemplifies the crucial fusion of technical knowledge and business insight required to navigate the challenges and opportunities in the dynamic landscape of the polymer industry.
Engaging in an idiosyncratic conversation with Industry Outlook magazine, Deep Vasav, CEO of Mirai Polymers shares with us the firm’s position, future roadmap and much more. Let’s hear it from him.
What is your opinion on the growth of the polymer industry in India, and how has this industry experienced growth over the last five years?
In my perspective, the polymer industry has experienced remarkable growth, particularly in the aftermath of the 2020 global standstill caused by the pandemic. Post-2020, there seems to be a universal shift towards sustainability and cost-effectiveness across various industries, and the manufacturing sector has witnessed significant expansion.
This trend is likely to persist in the coming years as industries increasingly focus on sustainable and economically viable manufacturing practices. The polymer industry, I believe, will continue to thrive in this environment, given its pivotal role in Value Engineering and the exploration of materials that align with both cost-effectiveness and sustainability criteria.
Tell us a little about Mirai polymers and the kind of impact the company's trying to make in the market?
Our journey with Mirai Polymers is deeply rooted family-owned business that has provided manufacturing services across diverse industries, from automobiles and agriculture to luggage and pumps. My personal connection as a plastic engineer, delving into materials and compounding during my college years, fueled a profound interest in polymers. With our group’s background as a service provider for OEMs, I identified a significant gap in the industry where people were unaware of the extensive applications of polymers and how we can harness sustainable and cost-effective approaches for growth through creative thinking.
Recognizing the demand for thermoplastic elastomers as a replacement for rubber products, we introduced thermoplastic elastomers (TPE), which is a subtle blend of traditionally thermosetting elastomers and polyolefins, enhancing the recyclability of rubber products. Mirai, meaning 'future', encapsulates our vision for sustainability in the Indian manufacturing sector.
What are your roles and responsibilities in Mirai Polymers and how does your work drive growth for the company?
In my role as the CEO, I am deeply connected with our primary customers. I find immense satisfaction as a bridge between their needs and the innovative solutions we create at Mirai Polymers. Being service providers for OEM products, my focus is on understanding our customers' requirements intimately. I strive to add value to their products through a collaborative process of incorporating their needs into our R&D team's endeavors.
I work closely with our team to explore various polymers and additives that can not only enhance productivity but also align with their goals of cost-effectiveness and sustainability.
At Mirai Polymers, we prioritize building strong connections with our clients & focus on value engineering. India is on the fast track to becoming a global manufacturing leader, & we must prepare ourselves for this transformative journey
What are the leadership ethics that you follow, and how do these ethics drive the workforce under you?
I consider myself truly blessed to lead a team enriched with practical experience far beyond my own. I embarked on this entrepreneurial journey at the tender age of 23-24, and I'm deeply appreciative to have assembled a team that not only adeptly assists me in comprehending the industry's challenges but also eagerly translates my market ideas into action.
Together, we embark on a journey of exploration and creativity, pushing the boundaries to develop products that are not only absent in the market but hold the potential to address unique challenges faced by our customers. Our daily strategy revolves around going beyond routine production, delving into uncharted territories to unearth opportunities where we can add substantial value to our customers' evolving needs and innovations.
What plans do you have for Mirai Polymers? Where do you see yourself in the future?
Beyond the success we've achieved with TPE, our journey at Mirai Polymers is fueled by a deep commitment to innovation. We've ventured into developing various additives for our customers, a step towards a broader product range that we aim to explore in the years ahead. Currently rooted in the commodity sector, we understand the pivotal role of cost-effectiveness and aspire to infuse sustainability into this landscape.
As the manufacturing sector in India flourishes, our vision is to be a guiding force, a stepping stone for manufacturers seeking support and innovation. In the next two to three years, my personal aspiration is to delve into the realm of engineering polymers, expanding our offerings to cater to a diverse market.
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