Polystyrene is a synthetic polymer, made from mono styrene. It is aromatic and can be solid or foamed. Polystyrene is generally hard, clear and brittle. It haslow melting point and poor resistivity to oxygen. Also, it has low cost in terms of resin per unit weight. It is a vinyl polymer that means it has an extended hydrocarbon chain with a phenyl group attached to every carbon atom. It is the most commonly used plastic and finds application in protective packaging, containers, lids, bottles and in the making of models.
Food packaging industry accounts for more than one-third of the global market. It is also utilized in sterile disposable cutlery. Polystyreneis also used in creation of green built spaces and energy conservation.Market Dynamics
Currently, the global polystyrene market is valued at $23.91 billion and is estimated to grow accounts for more than one-third of global polystyrene market o $32.74 billion by 2022, accounting for a CAGR of 5.38%.
Key growth drivers for global polystyrene market are:
--> Inexpensive nature, and easy availability
--> Increasing population & hence surging demand
--> Industrialisation & globalisation
--> Increased expenditure on construction & infra development
--> Surging demand for sterilised products & electric appliances
--> Increasing disposable income
On the other hand, due to its slow biodegradable nature, it causes controversy amongst the environmentalists. Also there is a shift in consumer preference given the surge in production for synthetic substitutes of plastics and organic materials as well.Market Segmentation
The global market for polystyrene has been segmented by form, resin, and end-user.
By resin, EPS, expanded polystyrene dominated the global market and is expected to witness the highest growth.
By form, foams segment with a market share of 38%, dominated the global market.
By end-user industry, while the packaging sector has the largest market share, it is expected that in the years to come, electrical & electronics industry will witness the highest CAGR.
North America, Latin America, Europe, Middle East, Asia-Pacific and Africa are key market segments.
Due to saturated industry in North America and Western Europe, across the forecasted period, more than 80% of the growth is expected to come from Asia-Pacific region in the global market.Key Players
The key players in global polystyrene market are :
BASF SE, The DOW Chemicals, Boston Scientific, ACH Foam Technologies Llc, Alpek SAB DE CV, Kumho Petrochemicals Ltd, CHI MEI Corporation, Formosa Chemicals &Fiber Corporation, Trinseo (U.S.), Videolar S/AReport Contents
> Market segments
> Market Drivers, Restraints and Opportunities
> Market Size & Forecast 2016 to 2022
> Supply & Demand Value Chain
> Market - Current Trends
> Competition & Major Companies
and R&D Status
> Porters Five Force Analysis
> Strategic and Critical Success Factor Analysis of Key PlayersRegional Analysis:
> North America
>> US and Canada
> Latin America
>> Mexico, Brazil, Argentina and Rest of Latin America
> Western Europe
>> EU5 (Germany, France, Italy, Spain, U.K.)
>> Nordic Countries (Denmark, Finland, Norway, and Sweden)
>> Benelux (Belgium, The Netherlands, and Luxembourg)
>> Rest of Western Europe
> Eastern Europe
>> Rest of Eastern Europe
> Asia Pacific
>> Australia and New Zealand
>> Rest of Asia Pacific
> Middle East and Africa
>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
>> South Africa
>> North Africa
>> Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.Report Highlights:
> Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
> Consumer and Pricing Analysis
> Market dynamics of the industry
> Market Segmentation
> Estimated Market Sizing in terms of volume and value
> Recent trends in Market and impact
> Research Status and Technology
> Extensive Industry Structure Coverage
Publisher Name : Market Litmus