The global polystyrene market is expected grow at a CAGR of 5% over the period of 2017 to 2023. market is driven by rapid industrialization and growing end use applications’ industry. Polystyrene, thermoplastic resin is a solid or foamed plastic formed by emulsion polymerization of styrene. It is one of the most commonly used plastics due to its large availability and economic per unit price. This is characterized by its improved resistance to acids, oils and alcohols. The global polystyrene market is driven by rapid industrialization and growing end use applications’ industry. Furthermore, rapid economic growth in emerging markets such as India, China, Brazil and others is expected to boost the market for polystyrene over the forecast period 2017 – 2023. Moreover, economy prices and availability of polystyrene in bulk is anticipated to support the growth in this market over the forecast period. However, growing environmental concerns is one of the prime challenges/restraining factors in this market as polystyrenes are slowly biodegradable. Reach is expected to play a crucial role in the European market for polystyrene market.
Figure: Global Polystyrene Market by Value 2015-2023
The report segments the global polystyrene market by type and by applications. The Types include expandable polystyrene foam and extruded polystyrene foam; and on the basis of applications the market is segmented as building & constructions, packaging, consumer appliances and others.
Geographic Coverage and Analysis
The report provides regional analysis covering geographies such as North America, Europe, Asia Pacific and Rest of the world (including Latin America and MENA). Among the geographies Asia Pacific is the largest market and it is expected to grow at the highest CAGR over the forecast period.
The companies covered in the report include manufacturers/suppliers of Polystyrene. The report profiles leading players in this market including The Dow Chemicals Company, Total Petrochemicals, BASF Corporation, Totalfina Elf, Formosa Chemicals & Fibre Corporation, Videolar S/A., ACH Foam Technologies Llc, Chevron Phillips Company., Ineos Styrenics, and Alpek SAB DE CV .
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of polystyrene globally as well as regionally. Furthermore, the report gives insights into the impact of reach on polystyrene market over the period of 2017 to 2023. Moreover, IGR-growth matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as porter’s five forces analysis and value chain analysis of polystyrene. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the polystyrene that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of polystyrene to understand the present and future trends in this market and formulate their strategies accordingly.