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India Polystyrene Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Type, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030

India Polystyrene Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Type, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030

Polystyrene demand in India grew at a CAGR of around 5.5% during 2015-2019 and is expected to achieve a healthy growth rate during the forecast period. Growth in domestic manufacturing of advanced refrigerators backed by robust growth in demand for FDA complaint polymers for manufacturing disposable plastic cutleries and other kitchenware will drive the Polystyrene market in the forecast period.
On basis of type, India’s Polystyrene Market can be categorized into General-Purpose Polystyrene (GPPS) and High-Impact Polystyrene (HIPS). While both GPPS and HIPS are considered low-cost, GPPS is more cost effective of the two. Being FDA complaint, General purpose PS finds major applications in food packaging, disposable utensils, cutleries and various other consumer durables. Because of its glass-like clarity and easy molding, GPPS is predominantly used for manufacturing opaque and transparent food storage containers or jewel cases. However, ban on single-use cutleries in several states such as Sikkim, Maharashtra, Kolkata etc.is likely to hamper the demand of General-Purpose Polystyrene in the years to come.
High impact PS is known to possess high impact resistance and is predominantly used in consumer electronics and toys. Several grades of HIPS are formulated to develop exceptional characteristics for specific end-use, such as in refrigerator inner liner products and food trays that require high environmental stress crack resistance. Government’s Make in India scheme and its significant contributions towards expanding the country’s ACE (Appliances and Consumer Electronics) industry are likely to impart great momentum to the Polystyrene demand during the forecast period.
However, sudden outbreak of COVID-19 has rendered a sharp downfall in manufacturing activities across several states of India. Polystyrene demand has although witnessed an overall decline, some sectors have performed comparatively well. Throughout the period, food packaging demand remained strong while demand for electronics and appliances remained subdued. Moreover, disruptions in trade flows and logistic constraints due to lockdown measures taken by the Indian government to contain the spread of coronavirus negatively impacted the country’s Polystyrene industry. Threatened by the demand downturn due to undue halt in industrial activities, manufacturers had no other option but to shut their plants or run them at curtailed rates to manage the overflowing inventories. This had a direct impact on the annual balance sheets of the key players operating in the Polystyrene sector which reflected substantial losses. Moreover, the recent styrene gas leak from the Vizag plant of the country’s leading Polystyrene manufacturer, LG Polymers India, further heightened the loss to country’s PS market. The incident is likely to impact the country’s overall Polystyrene production volume unless the plant returns to operations after government’s approval. With ease in lockdown restrictions, massive restaurants are opting for using high quality disposable cutlery and crockery to avoid the transmission of highly contagious coronavirus. This is likely to accelerate the demand for Polystyrene in the forthcoming quarters.

Years Considered for this Report:
Historical Years: 2015 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2030

Objective of the Study:
•The primary objective of the study was to evaluate and forecast Polystyrene capacity, production, demand, inventory, and demand–supply gap in India.
•To categorize Polystyrene demand based on type, end use, region and distribution channel.
•To identify major customers of Polystyrene in India.
•To evaluate and forecast Polystyrene pricing in India.
•To identify and profile major companies operating in India Polystyrene market.
•To identify major news, deals and expansion plans in India Polystyrene market.
India largely depends on its domestic manufacturing to fulfill its Polystyrene demand. However, India imports the raw material in huge volumes for manufacturing Polystyrene mainly from Singapore, U.S., Korea and Taiwan. In fact, the country is a major exporter of Polystyrene to the Gulf countries such as Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE. Some of the major players operating in India Polystyrene market are Supreme Petrochem Limited, LG Polymers India Private Limited, INEOS Styrolution India Limited etc. BASF, SABIC, Dow Inc.; NOVA Chemicals Corporation; Styrochem; Formosa Chemical & Fibre Corp and Kumho Petrochemical are some of the leading international players operating in the India Polystyrene market.
Prices of Polystyrene are highly susceptible to prices of its key feedstock Styrene monomer, which is wholly imported in the country. Hence, prices for Polystyrene vary strongly with fluctuations in international raw material prices which ultimately trace benzene and crude oil. Outbreak of coronavirus has put an indelible impact on the crude oil sector, which starting from the oil price war remained hardly hit for almost the entire Q4FY20. During most of the fourth quarter, Benzene prices remained under pressure due to cheaper crude, which ultimately suppressed downstream Styrene and Polystyrene values to record breaking lows. Polystyrene prices declined by almost 4 per cent in 2020 on a y-o-y basis However, with gradual recovery in the economy and pickup from demand side, Polystyrene prices are likely to regain the uptrend in FY21.
To extract data for India Polystyrene market, primary research surveys were conducted with Polystyrene manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for India Polystyrene market over the coming years.
ChemAnalyst calculated Polystyrene demand in India by analyzing the historical data and demand forecast which was carried out considering imported styrene prices, a monomer used for production of Polystyrene. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.

Key Target Audience
•Polystyrene manufacturers and other stakeholders
•Organizations, forums and alliances related to Polystyrene distribution
•Government bodies such as regulating authorities and policy makers
•Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Polystyrene manufacturers, distributors and policymakers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.

Report Scope:
In this report, the India Polystyrene market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, by Type- General Purpose Polystyrene (GPPS), High Impact Polystyrene (HIPS)
Market, by End Use- Packaging, Electronics and Appliances, Jewelry Casings, Household/Stationery, Others
Market, by Distribution Channel- Direct/Institutional Sales, Retail Sales, Other Channel Sales
Market, by Region- North, West, East and South

Competitive Landscape
ChemAnalyst offers detailed analysis of major players including basic company details, Segmental/product information, financial matrices, growth strategies, expansion plans, collaborations, SWOT analysis etc.to give a comprehensive and meaningful insights on the respective product market.

Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
1.Manufacturing Process & Technology Licensing Evaluation
2.India Polystyrene Demand-Supply Gap Outlook, By Volume
2.1.Capacity, By Company
2.2.Capacity, By Location
2.3.Capacity, By Technology
2.4.Capacity, By Process
2.5.Production, By Company
2.6.Operating Efficiency, By Company
2.7.Country-Wise Import
2.8.Country-Wise Export
2.9.Demand-Supply Gap
3.India Polystyrene Demand Outlook
3.1.By Type
3.2.By End Use
3.3.By Distribution Channel
3.4.By Region / State
3.5.By Company
4.Customer Analysis
4.1.Procurement Volume
4.2.Procurement Prices
4.3.Existing Supplier
4.4.Contact Details
5.Cost Structure
5.1.Raw material cost
5.2.Existing Supplier
5.3.Selling & Distribution Cost
5.4.Fixed Cost
5.5.Other Cost
6.Market Trends & Developments (Focus on emerging application and manufacturing technologies
7.Grade-Wise & Company-Wise Pricing Analysis (Monthly)
7.1.Historical Prices (Domestic, CFR)
8.Competitive Landscape (Top 10 Companies in terms of revenue share)
8.1.Company Profiles
8.1.1.Key Financial Matrices
8.1.2.Margin Analysis
8.1.3.SWOT Analysis
8.1.4.Key Market Focus and Geographical Presence
8.1.5.Planned Investments
8.1.7.Technology Licensing
8.1.8.Expansion Plan
9.Project Viability Analysis
10.Strategic Recommendations
11.About Us & Disclaimer

List of Tables
Table 1: India Polystyrene Trade Dynamics, Country-Wise Import, 2015-2020
(Value in INR Million & Volume in KT)
Table 2: India Polystyrene Trade Dynamics, Country-Wise Export, 2015-2020
(Value in INR Million & Volume in KT)
Table 3: Customer Analysis of India Polystyrene Market, 2020
Table 4: Supplier Cost Structure Analysis of India Polystyrene Market, 2019 & 2020

Report Title: India Polystyrene Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Type, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030

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