The new report by Expert Market Research titled, ‘Global Polystyrene Market Size, Price, Share, Trends, Analysis Report and Forecast 2020-2025′, gives an in-depth analysis of the global polystyrene market, assessing the market based on its segments like applications and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2015-2025)
- Historical Market Size (2019): 18.6 million metric tons
- Forecast CAGR (2020-2025): 1.9%
- Forecast Market Size (2025): 20.8 million metric tons
The global polystyrene market is being driven by the increased demand for the product in electric and electronic appliances owing to its usage for insulation. The increasing application of polystyrene for construction purposes is propelling the polystyrene market growth. The rapid growth of infrastructural activities as a result of increasing urbanisation has developed the construction sector, thereby bolstering the growth of the polystyrene market. Increasing demand for high impact polystyrene and general polystyrene from the consumer electronic segment and several other sectors is providing a further impetus to the market for its growth.
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Industry Definition and Major Segments
Polystyrene is a flexible polymer of styrene, which is used in the production of a wide variety of consumer products. It is often used as a solid plastic in products that require clarity, such as laboratory ware and food packaging. Polystyrene is used to make appliances, automobile parts, toys, electronics, and gardening equipment.
Based on application, the polystyrene market can be segmented into:
- Packaging and One-Time Use
- Consumer and Institutional
- Electrical and Electronic
- Building and Construction
- Resellers and Others
The major regions of the polystyrene market are:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The necessity to reduce plastic waste has increased due to the rising plastic pollution and increasing environmental concerns. Manufacturers are focusing on recycling plastic products to reduce the carbon footprint on the environment.
The demand for high impact polystyrene, also known as HIPS, has increased in the production of TV housings, computer housing, and freezer and refrigerator liners. The key players in the polystyrene consumer packaging value chain are actively seeking to develop a recyclable and reusable product. This will lead to the development of a circular economy for polystyrene products over the forecast period.
Key Market Players
The major players in the market are INEOS Styrolution Group GmbH, Total S.A. (EPA: FP), Americas Styrenic, Chi Mei Corporation, PS Japan Corporation, Shanghai SECCO Petrochemical Company Limited, Versalis S.p.A, Supreme Petrochem Ltd (NSE: SUPPETRO), and Trinseo S.A. (NYSE: TSE), among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Cross Linked Polymers Market – https://www.expertmarketresearch.com/reports/cross-linked-polymers-market
Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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