APIC ’18: India’s SM demand growth seen at 5% in 2018-19 – CPMA

20 August 2018 09:04 Source:ICIS News

KUALA LUMPUR (ICIS)--India’s demand growth for styrene monomer (SM) resin is estimated at 5% in 2018-19 as consumption in the country increases, India’s Chemicals and Petrochemicals Manufacturers Association (CPMA) said in a report on Monday.

“The demand of styrene has been continuously increasing in the Indian plastics market from past few years,” the association said in the report presented at the 2018 Asia Petrochemical Industry Conference (APIC), which runs on 20-21 August.

The end segment for SM resins include automobiles, packaging, building and constructions, consumer products, medical devices and other products.

“The strong dependency on imports due to the limited domestic production, global market prices, and currency fluctuations are the major constraints for the Indian styrene market,” CPMA said.

By Tahir Ikram