Urban population growth, evolving consumer behaviour and economic development have propelled formation of new industries and organizations in the past two decades. Plastic and related industries have witnessed a huge growth as consumption has increased exponentially all over the world. However, with increased use of plastic to produce an array of products, there was a need to come up with solutions that offered safer and sustainable raw materials for producing plastic products.
Mumbai-based company, Merit Polymers has been in the business of making plastic masterbatch since 1976, all geared up to tackle this newage problem at hand. Focused on using chemical processing that makes plastic products safer and sustainable, the firm has been creating reliable, responsible and innovative applications for the plastic industry.
Talking about the current market and promising future for the plastic industry, Mitesh Kothari, Director says, “Masterbatch market will grow significantly with an expected growth rate 8-11percent CAGR in the next five years. Government schemes like ‘make in India’ are expected to impel demand boom; and primarily the growth will be driven by the packaging, pharmaceutical, electronics and consumer appliances sector.
The trend of innovative and environment friendly packaging will drive the demand growth of the masterbatch industry. Product differentiation and quality at competitive price points are the need of the day. We at Merit Polymers have capitalized on technological innovation and through modern tools and world class procedural systems, have been able to bring value added, customized products to our customers”.
Transforming Plastic Industry In india
Merit Polymers boasts of four units with state-of-the-art machines and an R&D laboratory with advanced technology testing machines. The firm has built on their production capacity to meet the increasing demand and technology to provide innovative products to their customers. The diversity in their product lines and ability to customize enables Merit to serve this price sensitive and technology driven sector. Supply chain management and strategic distribution points enables their customers to cut off their inventory and TAT, thus adding value to their bottom line.
Merit believes in the power of talent, the firm has a highly motivated and driven team of talented and skillful personnel and experts whose hard work has brought the company where they are now. The vision, in-depth knowledge and immense experience of the Founder, Pappu Kothari, drives Merit Polymers to relentlessly serve their customers. Mitesh mentions, “The word 'We' is ingrained in our spirit from an employee at the bottom of the pyramid to top; hence the vision, dream, courage and technical expertise of our management and board of directors along with our team’s focused effort has propelled our growth and will continue to do so”.
Charting The Path Ahead
Started their journey in a small room in 1976 with dry blended color pigment packets and four employees, Merit has since then ventured into color, white, black masterbatches, various types of speciality compounds, thermoplastic elastomers, fillers, multi filament colour masterbatches and additives, expanded to four units with world class extruders with about 300 dedicated employees. Merit boasts of an ever-growing customer base in countries like Africa, South Asia, Middle east including Indian market through their channel partners and sales depots across the regions. Factoring the world economy and business environment, the firm is bullish on market growth and is strategically placed to reap the opportunities.
Talking about future plans for Merit Polymers, Mitesh Kothari concludes, “Our plan is to build enhancement systems to effectively implement the continuous technological advancements in the sector and increase the product lines with innovative features and increase the production capacity to reach niche markets. We are happy to announce that we will be starting our biggest plant for masterbatches in India very soon, spread over 35 acres land with a vision of multifold increase in the number of extruders to cater the current requirement”.
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