The global polystyrene market is expected to reach USD 35.21 Billion by 2027, according to a new report by Reports and Data. Polystyrene is produced by the polymerization of styrene, a building block material having widespread usage in producing various kinds of plastic products.
Blocks made of polystyrene are implemented in the construction of buildings for providing permanent insulation for walls of buildings along with the roofs and floors. The distinctive feature of stacking and then filling the forms with concrete, of these blocks, allow for faster and cheaper construction of buildings (including residential, commercial, and industrial construction projects) as compared to typical brick and mortar buildings. Moreover, the block system aids in saving labor and time consumed in the completion of the project and the total construction costs.
The report also provides key insights into the factors and aspects that are likely to influence the growth of the industry. Along with the prominent drivers and restraints, the report considers the pandemic of COVID-19 as a key influencing factor. The report assesses the comprehensive impact of the pandemic on the Polystyrene market. It also offers insights into how the crucial segments of the market have been affected by the pandemic. The report assesses comprehensive data to generate a total impact analysis of the pandemic and offers a futuristic outlook to offer a general idea of the current market scenario and economic landscape.
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The report further offers radical data about the intense competitive landscape along with a comprehensive analysis of the key players and the strategies schemes they employ. The report encompasses all the corporate deals, mergers and acquisitions, joint ventures, collaborations, product launches, and brand promotions, government deals and agreements, and other strategic alliances. Along with this, the report also covers the technological developments and product advancements of the prominent players.
The report covers extensive profiling of the leading competitors, including:
BASF SE, Versalis SPA, SABIC, Synthos SA, Kaneka Corporation, The Ravago Group, LG Chem, Formosa Chemicals & Fibers Corp., Ineos Styrolution Group GmbH, and Trinseol, among others.
The report provides a comprehensive analysis of the key geographical regions to impart a deeper understanding of the Polystyrene market. The regional analysis covers the assessment of the production and consumption rate, import/export, supply and demand ratio, market share, market size, revenue contribution, current and emerging trends, and the existence of the key players of the Polystyrene market in each region. Furthermore, the report also covers the country-wise analysis of the Polystyrene market.
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The Polystyrene market is further segmented on the basis of product types offered by the market and the application spectrum.
Forms Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Atactic Polystyrene
- Syndiotactic Polystyrene
Resin Type Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- General Purpose Polystyrene (GPPS)
- High Impact Polystyrene (HIPS)
- Expanded Polystyrene (EPS)
Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Industry Vertical Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Consumer Goods
- Electrical & Electronics
Key Regions Assessed in the Report Include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The Polystyrene report is formulated through extensive primary and secondary research and further validated through industry experts and professionals. The data has been accrued through authentic sources, including interviews, documents, databases, and other sources to offer accurate insights into the industry to offer beneficial data to the readers and companies.
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Further key findings from the report suggest
- By forms, atactic polystyrene contributed to the largest market size in 2018. This form of polystyrene is an essential product for commercial use. It has a glass transition temperature of more than 100 ºC allowing it to be used in a variety of applications.
- By resin type, high impact polystyrene (HIPS) held the largest market share in 2018 and is likely to grow at a rate of 3.0% in the forecast period. HIPS is resistant to cracks and finds usage in injection molding. Also, these kinds of resins have good dimensional stability and low cost. It is easy to paint and glue and is deployed for housing and covers, printed graphics, low-strength structural components, models and prototypes, and fixtures, among others.
- Polystyrene is extensively used to manufacture sheets, which are used for making displays, prototypes, signs, models, enclosures and more. These sheets are low-cost material and are used for several general-purpose uses.
- The market in the Asia Pacific region dominated the market in 2018 and is likely to witness a growth rate of 4.1% in the period 2019-2026. The market dominance of the Asia Pacific region is owing to the growth of the construction industry in the region. Moreover, the high demand for packaging materials from the rapidly growing e-commerce sector is causative in the growth of the market in the region.
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