Global Polystyrene Market Analysis: Plant Capacity, Production, Technology, Operating Efficiency, Demand & Supply, End-Use, Grade, Foreign Trade, Sales Channel, Regional Demand, Company Share, 2015-2030

Global Polystyrene Market Analysis: Plant Capacity, Production, Technology, Operating Efficiency, Demand & Supply, End-Use, Grade, Foreign Trade, Sales Channel, Regional Demand, Company Share, 2015-2030

The global Polystyrene market stood at approximately 10 million tonnes in 2021 and is expected to grow at a steady CAGR of 3.79% during the forecast period until 2030.

Polystyrene is an artificial resin which appears to be a strong, stiff, and translucent. Styrene, a liquid hydrocarbon, serves as the monomer for the polymer polystyrene. Free-radical initiators are mainly used in bulk and suspension techniques to polymerize styrene, although solution and emulsion methods are also in application. Polystyrene’s interesting properties like light-weight nature and insulation properties are driving its application in multiple industries. Polystyrene is employed to manufacture expanded polystyrene (EPS). EPS displays high level of thermal conductivity, and its blocks are used in the construction sector for applications like concrete floor slabs and underfloor heating.

The global Polystyrene market industry driven by its unique properties. Polystyrene is water – resistant which drives its application in the packaging industry. Furthermore, this polymer can also blend with other polymers. Furthermore, its application to manufacture automotive components and electronic goods will most likely propel the market in the upcoming years. Its insulation and high strength drive its heavy usage in the construction industry, which further fuels the Polystyrene demand. There is heavy usage of expanded polystyrene (EPS) for the building sector. Since it has a light and stiff foam structure that provides good thermal insulation and a high level of impact resistance, fueling the Polystyrene market. The global Polystyrene market is anticipated to reach approximately 18 million tonnes by 2030.

Based on grade, the Polystyrene market is segregated into High Impact Polystyrene (HIPS) and General purpose polystyrene (GPPS) grade. Among these, the former grade, i.e., HIPS is leading the market with a consumption of nearly 60% of global market in 2021. High Impact Polystyrene (HIPS) is a versatile material with high impact strength, easy to be printed on, and easy to be thermoformed. It finds its applications in cooktops, goods for consumers gadgets, television and audiovisual equipment parts, tapes, bicycle trailers, and appliance parts, gasoline tanks, circuit boards, and components for the automotive industry

The region with the biggest demand for Polystyrene worldwide is Asia Pacific region and held a market share of around 40% of the world's Polystyrene market in the year 2021. Polystyrene is widely employed in the construction sector. Due to rapid industrialization, the demand of EPS is anticipated to rise, resulting in market to expand by 2030. Although, the demand of Polystyrene in Europe and North America is anticipated to experience a sluggish growth in the forecast period. Furthermore, APAC is also the highest producer of Polystyrene, with China as the top producer among other Asian Countries.

Based on the end-user industry, the Polystyrene market is segmented into Packaging, Household appliances, Consumer electronics products, Building and construction, and Others. Among these, Packaging industry is leading segment, followed by Household appliances industry. Packaging industry accounted around 30% of the share of total Polystyrene demand in 2021. This industry is anticipated to maintain its position in the upcoming year owing to the growing demand of this plastic for food packaging coupled with growing population in the forecast period. Building and construction sector is also a flourishing sector

Significant companies for Global Polystyrene market are Total Petrochemicals, INEOS Styrolution, Styrolution, Jiangsu Laidun Baofu Plastifying, Zhenjiang Chi Mei Chemical, Shanghai Secco Petrochemical, Formosa Plastics, Versalis, Trinseo, Supreme Petrochem Limited, LG Chem, DIC Corporation, PS Japan, and Jiangsu Lyan Qingfeng Newmaterial.

Years considered for this report:

Historical Period: 2015- 2021

Base Year: 2021

Estimated Year: 2022

Forecast Period: 2023-2030

The objective of the Study:

• To assess the demand-supply scenario of Polystyrene, which covers the production, demand, and supply of Polystyrene around the globe.
• To analyze and forecast the market size of Polystyrene.
• To classify and forecast the Global Polystyrene market based on end-use and regional distribution.
• To examine global competitive developments such as new capacity expansions, mergers & acquisitions, etc., of the Polystyrene market.

To extract data for the Global Polystyrene market, primary research surveys were conducted with Polystyrene manufacturers, suppliers, distributors, wholesalers, and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for the Global Polystyrene market over the coming years.

ChemAnalyst calculated Polystyrene demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Polystyrene across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.

Key Target Audience:

• Polystyrene manufacturers and other stakeholders
• Organizations, forums and alliances related to Polystyrene distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Polystyrene manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

Report Scope:

In this report, Global Polystyrene market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Market, by Grade: High Impact Polystyrene (HIPS) and General purpose polystyrene (GPPS)
• Market, by End-use: Packaging, Household appliances, Consumer electronics products, Building and construction, and Others
• Market, by Sales Channel: Direct Sale and Indirect Sale
• Market, by Region: North America, Europe, Asia Pacific, Middle East and Africa, and South America.

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