According to a new report by Expert Market Research titled, ‘Global Polystyrene Market Report and Forecast 2020-2025’, the global demand for polystyrene reached a volume of around 18.6 million metric tons in 2019. The industry is further expected to witness a steady growth rate, displaying a CAGR of 1.9% between 2020 and 2025 to reach a volume of almost 20.8 million metric tons by 2025.
Competitive Landscape & Supplier Analysis:
- 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)
- Trinseo S.A.
- Others
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The global polystyrene market is being driven by polystyrene’s growing demand in the construction and electronics sector. Polystyrene, being a flexible plastic, is used to produce a wide range of consumer products like automotive parts, toys, laboratory products, electronics, etc. Thus, consumer electronics has emerged as a major driving segment for the industry, which is expected to grow at a CARG of 7-10% till 2023.
The Asia Pacific dominates the global market for polystyrene, contributing significantly to the global trade market of the product. In February 2019, Ineos Styrolution, a leading global styrenics supplier, completed the acquisition of two polystyrene sites in China from Total S.A. The company focuses on styrene monomer, polystyrene, ABS Standard, and styrenic specialties and provides the ease of recyclability and compatibility to its consumers. With this acquisition, the company aims at expanding its market in Asia, further making domestic market in China accessible to the company with locally produced materials.
Read full report summary with Table of Contents – https://www.expertmarketresearch.com/reports/polystyrene-market
Market Breakup by Applications:
- Packaging and One-Time Use
- Consumer and Institutional
- Electrical and Electronic
- Building and Construction
- Resellers and Others
Based on application, the global polystyrene industry, can be broadly categorised into packaging and one-time use, consumer and institutional, electrical and electronic, building and construction, and resellers and others.
Market Breakup by Regions:
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Italy
- Others
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Australia
- Others
- Latin America
- Brazil
- Argentina
- Mexico
- Others
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Nigeria
- South Africa
- Others
The regional markets for global polystyrene market are North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.
Related Links:
https://www.expertmarketresearch.com/reports/nylon-market
https://www.expertmarketresearch.com/reports/polycarbonate-market
Note 1: 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 the 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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