In 2023, the import of polymers of styrene except SAN or ABS to India was at a certain baseline. As projected, imports will rise from 25.675 million kilograms in 2024 to 28.166 million kilograms in 2028, showing a steady annual increase. The year-on-year increase averages around 2.5%, suggesting a consistent upward trend. Over the 5-year period from 2024 to 2028, the compound annual growth rate (CAGR) is projected to be robust, indicating a healthy demand.
Future trends to watch for include:
- Shifts in the global polymer supply chain affecting raw material availability.
- Fluctuations in regulatory policies impacting import tariffs and restrictions.
- Technological advancements in polymer production that could alter import needs.
- Changes in domestic production capacity potentially reducing import dependency.
