06 February 2012 05:13 [Source: ICIS news]
NEW DELHI (ICIS)--Indian polystyrene (PS) demand is likely to decline by 3.5% in 2011-12 on sluggish market conditions, an industry source said over the weekend.
A weak appliances segment affected demand, which is likely to settle at 250,000 tonnes for the year ending 31 March 2012, he added at the sidelines of the 8th PlastIndia exhibition.
The appliances segment accounts for 40% of the PS demand in the country.
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Also, there is a shift in demand in the television sector, as the boom in the LCD TV market is increasingly eroding the demand for PS in the TV segment, he added.
However, the expandable PS (EPS) market, estimated at around 80,000 tonnes, is growing with companies working hard to push the product in the insulation and construction segments, he said.
The 8th PlastIndia exhibition is a six-day event which will end on 6 February.
Additional reporting by Ong Sheau Ling and Prema Viswanathan
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