According to ChemAnalyst report, “India Expanded Polystyrene Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2030”, India Expanded Polystyrene Market is likely to grow at a CAGR of 5.81% during the forecasted period by FY2030. The end-user industries of Industrial Packaging, Food Packaging, and Building & Construction are anticipated to favor the Expanded Polystyrene Market expansion in India in the forthcoming years.
Expanded polystyrene (EPS) is a white rigid material formed from expanded polystyrene beads. It is a plastic foam insulation product that is lightweight and stiff. The inflated and then molded EPS beads are utilized to create larger EPS blocks that are then used to construct walls, ceilings, flooring, basements, and architectural features. The low-density polymer known as EPS, which is organized into separate cells, has high moisture resistance, good chemical barrier protection, and lightweight properties.
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Due to its properties like resistance to bacteria and fungi, EPS is also frequently used to protect food and prevent damage during various phases of food manufacturing and transportation. Because of its low heat conductivity, it is frequently used in the fish business for the packaging and transportation of fish products. The construction of various residential buildings is majorly driving the demand for Expanded Polystyrene due to its unique durability and perfect thermal efficiency. As the product is lightweight, it is widely used in packings of fragile items such as glassware or moreover as solid blocks to improve the safety of products. Industrial packaging frequently utilizes EPS packaging. Due to its shock absorption ability, it offers industrial items the perfect material for comprehensive protection and safety from risk during transit and handling. To transport and store delicate objects including fragile medical devices, electronic parts, electrical consumer goods, toys, and horticultural products, this firm lightweight foam can be molded into any shape. EPS is also widely used in the medical sector for the transportation of crucial transplant organs. Additionally, in the automotive industries, Expanded Polystyrene plays a very important role to provide comfort to passengers EPS Foams are used in the manufacturing of seats used in vehicles.
India Expanded Polystyrene Market is segmented based on end-use, sales channel, and region. Based on end-use, India Expanded Polystyrene Market is divided into Industrial Packaging, Food Packaging, Building & Construction, and Others. As of FY2022, the Industrial Packaging industry is dominating the EPS market with a share of 36%. The insulating properties, chemical inertness, bacterial and pest resistance, etc. of EPS make it a popular material in the packaging sector. It can only absorb a small amount of water according to its closed-cell structure.
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Based on region, India Expanded Polystyrene Market is segregated into North, South, East, and West. In the historic period of FY2015-FY2022, West India has been dominating the market. In FY2022, West India consumed approximately 35% of the market, owing to the presence of plasticizers located in Western states like Gujarat, Maharashtra, and Rajasthan.
“India Expanded Polystyrene Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2030” Major players operating in India Expanded Polystyrene market include Supreme Petrochem, Lg Polymers India Pvt. Ltd., K.K Nag Pvt. Ltd and others. Some of the global key players in the product market include SYNTHOS, BASF, and Others.
“Growing demand for Expanded Polystyrene (EPS) as a popular choice of packaging material in various industries such as industrial, food & beverages, electronics & electricals, due to its properties like shock-resistance, chemical-resistance, bacterial-resistance, and cost-effectiveness is anticipated to swell the demand for EPS in the forecast period. The lightweight foam is used to offer thermal insulation in cold storage, refrigerators, walls, and roofing since it is inert, durable, and resistant to water damage. Owing to fast-paced urbanization across India, the demand for EPS for packaging purposes is anticipated to rise in the forecast period till FY2030. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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