Global Polystyrene Market – Segmented by Resin Type, Shape Type, End User Industry and Geography – Growth, Trends and Forecast (2018-2023)

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Global Polystyrene market The Trends and Forecast report provides an in-depth analysis of the Polystyrene market including a detailed description about the market size and growth, value, key opportunities in the Polystyrene market and outlines the factors that are and will be driving it the growth of the industry taking into account the previous growth models with the forecast period from 2021.

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The global polystyrene market was estimated at USD 28,103.36 million in 2017. The market is expected to register a CAGR of 4.91% during the forecast period, 2018 to 2023. General purpose polystyrene dominated the market global polystyrene with nearly 25% share in the world and is estimated to register the fastest CAGR during the forecast period.

GROWING CONSUMER ELECTRONICS MARKET

Consumer electronics is a highly competitive market based on innovation. Polystyrene is an important product used in various consumer electronics applications such as housing for televisions and all kinds of computer equipment, shape and aesthetics, and high performance / cost ratio. Polystyrene is a favorable choice for multimedia cases, cassette cases and transparent jewelry boxes to protect CDs and DVDs. The ever-changing technology and the decreasing price range of the products are the main driving factors of consumer electronics in the global market. Emerging economies like China, India, Indonesia, Thailand, Australia, Brazil, South Africa, South Korea, etc. are new markets and have enormous growth potential.
General purpose polystyrene, also known as crystal or straight polystyrene, is the transparent and rigid form of polystyrene primarily used for food packaging. Applications include a variety of food containers and trays. GPPS is also finding application in the healthcare industry. It is used for the manufacture of disposable medical products such as test kit cases, test tubes, etc. Asia-Pacific is the largest producer as well as the consumer of the GPPS market. It is followed by Europe and North America.

Asia-Pacific dominates the market

Asia-Pacific holds the highest market share, accounting for almost 47% of the global market share in 2017. The Asia-Pacific market is primarily driven by increasing consumer base and increasing strong demand for packaging. Additionally, the region’s construction sector remains positive as the industry is expected to benefit from rising demand, triggered by a rebound in residential construction and infrastructure projects.

China is the biggest consumer

China’s geographic location provides easy access to markets for industrial products in neighboring countries, as well as globally, to other countries; this makes it a major access point for manufacturers and suppliers. The demand for polystyrene in China has remained strong in recent years due to the increase in electrical, electronic and packaging applications. The abundant availability of raw materials and the low cost of production are expected to stimulate demand in the polystyrene market in the country.

Key developments in the market

December 2017: Trinseo announces price increases for polystyrene, polycarbonate and copolymers in Europe
The main key players are INEOS STYRLOUTION GROUP GMBH, TOTAL, TRINSEO, SABIC and BASF and other players include AMERICAS STYRENICS LLC, CHI MEI CORPORATION, FORMOSA CHEMICALS & FIBER CORP, KUMHO PETROCHEMICAL CO., LTD., LG CHEM, LTD., SYNTHOS SA, THE DOW CHEMICAL COMPANY, VERSALIS SPA and VIDEOLAR-INNOVA SA

Reasons to buy this report

Definition of the market, along with the identification of the driving factors for changing the market scenario and potential opportunities
Various Market Insights, Using Porter’s Five Forces Analysis
Regions or countries expected to experience the fastest growth during the forecast period
Product segment, which will dominate the market during the forecast period
The latest developments, market shares and strategies used by major market players
3-month analyst support with the market estimate sheet in Excel.

Customizing the report

This report can be customized to meet your needs.

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