Global High Impact PolyStyrene(HIPS) Market 2020

Latest research document namely Global High Impact PolyStyrene(HIPS) Market 2020 by Manufacturers, Type and Application, Forecast to 2025 comprises in-depth data and a study of the market. The report provides comprehensive information on the development activities by industry players, growth opportunities, and market sizing, with analysis by key segments, leading and emerging players, and geographies. The report deploys an overview of the market and structure of the market and predicts industry share to rise within the forecast period 2025. 

The study covers the detailed business overview of each profiled player, its complete research, and market development history with the latest news. It lists the consumption volume industry by application, manufacturing technology, and regions. The report examines several manufacturers, associations, suppliers, organizations, and industries below the global High Impact PolyStyrene(HIPS) market.

The study helps in identifying and tracking emerging players in the market and their portfolios. The objectives of the examination are to introduce the key improvements to the market over the globe. The report presents a review and SWOT investigation of the serious scene of the enterprises. 

Moreover, the report proposes an intensive study of the market revenue, market share, key market segments, distinct geographic regions, main market players, and prime industry trends. Then it depicts the expected market patterns and revenue forecast for the global High Impact PolyStyrene(HIPS) market for the following five years.

Key Benefits of the Report:

• Global, and regional, type & end-use global High Impact PolyStyrene(HIPS) industry market size and their forecast from 2020-2025
  
  
• Detailed analysis of key market dynamics, such as drivers, restraints, opportunities, and challenges influencing the growth of the market
  
  
• Detailed analysis of industry outlook with the supply chain to better understand the market and build expansion strategies
  
  
• Identification of key market players, analysing their market share and core competencies, detailed financial positions, key products
  
  
• Expert interviews and their insights on market trends, current, and future outlook, and factors impacting vendors’ short term & long term strategies

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Trucking Market Bounce Back Prominently in 2021 with A Rapid Growth Rate

According to the latest research and publication has forecasted that the Indian Trucking Industry is likely to bounce back with a better growth rate in 2021 with the pandemic receding with time. The Indian Government has been perpetually investing in building more and more roads, inland coastal ship infrastructure, and ports to reduce the congestion in the highly congested metropolitan cities. With the revised and more flexible axle norms, reduced freight cost, and the growth of the e-commerce sector, the growth of the trucking industry in India would surely witness a boom. 

 

Present & Future Scenario of the Indian Trucking Industry and Projections

 

Indian Trucking Industry is majorly affected due to the Covid-19 breakout in India but it is expected to recover soon. The truckers who have bought trucks with institutional finance faced a hard time in 2020 in paying off the EMIs as the business as well as all other cities of India have suffered miserably. This is believed that these would be the major contributing factors in the bouncing back of the Indian trucking industry very fast. 

Main Reason for the Rapid Growth 

Increase in the government spends - According to survey 2020-21 Budget has allocated an amount of 170,000 crores for the development of the transportation infrastructure in the country and this is 8% more as compared to the last year. There are several efforts, initiatives, and projects which are being taken up which would lead to the eventual growth of the Indian trucking industry. 

High seasonal demand variation - The overall demand for trucking services is usually high during the festive season (Sept, Oct, Nov, Dec) and then during the harvesting months (Feb to April). So, the demand for the hire truck in Gurgaon and all other major cities and towns is likely to increase in these months. 

 

Change in Government regulations - There are several flexibilities that are being offered by the Indian Government in order to promote the trucking industry like GST has been converted to all-digital transactions. Also, the introduction of Fastag and e-way bills have made it easier for the truckers to operate. All these initiatives have been counted to be promoting the growth of the trucking industry in India.

 

Improving cold transportation - India, in recent years, has been transporting big bulks of vegetables and fruits that require cold chain services. Thus, the cold chain services are being used on a large scale and the demand for these services is at an all-time high. This is contributing to a higher demand for the Online truck booking in Delhi NCR and several other cities in India. 

The Growth of the Indian Logistics Market

 

The Indian Logistics industry is witnessing huge growth with a promising CAGR and growth of the various components like the courier parcel, warehousing, and the VAS markets. With the development of all these, the demands for trucks and tempos are also increasing. The e-commerce sector is another very popular industry that is becoming extremely popular with the increased usage of flexible online payments like Paytm, Amazon Pay, Google Pay, PhonePe, etc. With the growth of the e-commerce industry, the demand for trucks is also increasing at a rapid pace in India.

Conclusion 

Overall, we can conclude that the future of the trucking industry is bright in India although the industry has suffered a major lag due to the impact of Covid-19 and long periods of lockdowns. As per the analysts and experts, we would be able to witness the glorious growth of the trucking industry in India in 2021.

Demand for Polystyrene in India Grew at a CAGR of Around 5.5% During 2015 -2019

The demand for Polystyrene 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 the demand for FDA compliant polymers for manufacturing disposable plastic cutleries and other kitchenware will drive the Polystyrene market in the forecast period.

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. The 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 demand for Polystyrene during the forecast period.

 

However, the sudden outbreak of COVID-19 has rendered a sharp downfall in manufacturing activities across several states of India. While demand for Polystyrene is witnessing an overall decline, some sectors have performed comparatively well. Throughout the period, the demand for food packaging remained strong while the 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 the country's PS market. The incident is likely to impact the country's overall Polystyrene production volume unless the plant returns to operations after the government's approval. With the 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.

The study is useful in providing answers to several critical questions that are important for the 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.

In this report, the Indian Polystyrene market has been segmented into the 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

Contact us for LG polystyrene polymer manufacturer supplier and distributor in India visit at: https://vrion.in/ Source: ET