Polystyrene Market Overview
Polystyrene is a polymer made from the monomer styrene, a liquid hydrocarbon produced commercially from petroleum. At room temperature, polystyrene is usually a solid thermoplastic but can be melted and then resolidified at higher temperatures for molding or extrusion. Solid and foam Polystyrene is mainly used in protect consumer products. Peanut shipping, food packaging, meat/poultry trays, and egg cartons are typically made with polystyrene to protect against damage or deterioration. Polystyrene is a synthetic polymer made from monomers of the aromatic hydrocarbon styrene and polystyrene is clear, rigid and brittle, making it an inexpensive resin per unit weight. Polystyrene is used in plastics, with production amounting to several million tons per year, widely used in the food service industry as rigid trays and containers, disposable tableware, and foamed cups, plates, and bowls. Polystyrene is also copolymerized or blended with other polymers, providing stiffness and strength in many important plastic and rubber products. Styrene is obtained by reacting ethylene with benzene in the presence of aluminum chloride to yield methylbenzene, the benzene group in this compound is then dehydrated to yield phenythylene or styrene, a clear liquid hydrocarbon with the chemical structure CHH5=CH2. Polystyrene exists in an amorphous state because, due to the presence of a large number of phenyl groups, the packing of the polystyrene chains is not efficient. Growing end-users of polystyrene including construction and electronics industries and increasing rate of global population, industrialization and globalization are driving the demand for polystyrene market.
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Attributes |
Details |
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Polystyrene Market Value (2022) |
US$ 20.55 Bn |
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Polystyrene Market Projected Value(2032) |
US$ 35.6 Bn |
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Polystyrene Market CAGR (2022-2032) |
6.2% |
Polystyrene Market Dynamics
Expansion of the electrical and electronics industry globally is driving the market, moreover, expansion of polystyrene recycling capacity will create growth opportunities and demand from consumer electronics manufacturers due to changing technologies and reduction in price range of products. Additionally, an increase in the population of young demographics and digitization activities are driving the use of electronic products, which is driving the growth of the polystyrene market. Moreover, increasing construction activities of sustainable commercial and residential buildings, which can easily withstand extreme external environmental factors, is expected to propel the market growth during the forecast period. However, the implementation of stringent regulations in North America and Europe will restrain the market growth and due to thermal insulation and light weight properties and availability of alternatives is hampering the market growth.
Technological advancement
Expanded polystyrene is a polystyrene technology, expanded polystyrene is a rigid cellular plastic found in many shapes and applications, it is commonly used for packaging electrical consumer goods and insulation panels for buildings, using EPS sheet which is made from small beads. Polystyrene mixed with pentane is one such technology. Manufacturers involved in the polystyrene market are developing advanced versions of their products due to the technological advancements in the new era. Major polystyrene players are investing more in power systems and creating more modern, time-saving, cost-effective technologies that are positively impacting the polystyrene market. Changes in regulations favoring polystyrene are expected to boost the market, especially in developed countries. In October 2022, scientists have taken an important step toward vastly expanding the range of recyclable plastics, the study, led by the U.S. It was conducted by the Department of Energy's National Renewable Laboratory and included an Oregon State University College of Engineering faculty member. Published October in the journal Science. They developed a technology that used oxygen and catalysts to break down the plastic into smaller, biologically compatible chemical building blocks, said Ellis, an assistant professor of chemical engineering.
Polystyrene Market Segmentation
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
The Polystyrene Market is segmented based on type, application, and region.
Polystyrene Market, By Type
On the basis of type, the Polystyrene Market is segmented into General Purpose Polystyrene, High Impact Polystyrene, Expanded Polystyrene, Extruded Polystyrene, Others. In type High Impact Polystyrene is a low-cost, tough plastic that is easy to thermoform and fabricate, High Impact Styrene is often used in point of purchase display countertops and indoor signage where ease of fabrication is required. Length, width, thickness and diameter tolerances vary by size, manufacturer, brand and grade. The demand for GPPS will increase significantly during the period 2020-2030, as this type has glass-like transparent characteristics, making it ideal for use in food packaging and plastic toys. The relatively easy processing and molding of general purpose polystyrene makes it a popular choice for cosmetic packs, refrigerator trays and containers.
Polystyrene Market, By Application
On the basis of application, the target market is classified into Rigid Packaging, Flexible Packaging, Seating, HVAC Insulation, Building and Construction, Automotive, Agriculture. Growth in the packaging segment is linked to increasing product use in automotive materials with shock absorption and thermal insulation, making them ideal for packaging applications. Urbanization and infrastructure development activities in growing economies will drive the growth of the building and construction sector.
Regional Insights:
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
On region the Polystyrene Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region has experienced high growth, the market in Asia Pacific region is mainly driven by India and China being the major consumers. Europe is likely to witness the second largest expansion and growth during the current forecast period.
Report Scope:
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Attribute |
Details |
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Base year for estimation |
2022 |
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Forecast period |
2022 – 2032 |
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Market representation |
Revenue in USD Billion & CAGR from 2022 to 2032 |
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Market Segmentation |
By Type - General Purpose Polystyrene, High Impact Polystyrene, Expanded Polystyrene, Extruded Polystyrene, Others By Application - Rigid Packaging, Flexible Packaging, Seating, HVAC Insulation, Building and Construction, Automotive, Agriculture |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Recent Developments:
- In October 2022, the Austrian producer of thermal insulation material Austrotherm, part of the Schmid Industry Holding Group, has acquired the Zentis extruded polystyrene plant in Arad. Zentyss is a registered trademark for extruded polystyrene foam thermal insulation panels manufactured by Opal Technologies.
- In March 2022, BEWI, a leading manufacturer of packaging and insulation solutions, acquired Czech recycling firm Inoplast S.R.O. 34% share capital acquisition in Innoplast is a company known for recycling plastics, mainly including expanded polystyrene and other forms of plastic.
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032. For the purpose of this study, has segmented the Polystyrene Market report based on type, application, and region:
Polystyrene Market, By Type:
- General Purpose Polystyrene
- High Impact Polystyrene
- Expanded Polystyrene
- Extruded Polystyrene
- Others
Polystyrene Market, By Application:
- Rigid Packaging
- Flexible Packaging
- Seating
- HVAC Insulation
- Building and Construction
- Automotive
- Agriculture
Polystyrene Market, By Region:
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- North America
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- U.S.
- Canada
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- Europe
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- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
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Polystyrene Market Key Players
The key players operating the Polystyrene Market includes
- INEOS Styrolutionn Group GmbH is a leading, global styrenics supplier focusing on styrene monomer, polystyrene, ABS standards and styrenic specifications. The company provides styrenic applications for many everyday products in a wide range of industries: automotive, household, electronics, construction, healthcare, packaging and toys/sports/leisure.
- BASF SE is a chemical company, producing, marketing and selling chemicals, plastics, crop protection products and performance products.
- Formosa Chemicals and Fiber Corporation is a Taiwanese plastics company in Taiwan that mainly manufactures polyvinyl chloride resins and other intermediate plastic products.
- Videolar-Innova S/A is a petrochemical industry that develops and manufactures styrenics, thermoplastic resins and ethyl benzene, toluene, styrene monomer, general purpose, high impact, expanded and bio oriented polypropylene films, laminated plastic polystyrene and laminated plastic converted products.
- Trinseo is a global materials company, particularly focused on the manufacture of plastics, latex and synthetic rubber, Trinseo was part of the Dow chemical company.
- Total Petrochemicals & Refining USA, Inc. A producer of polypropylene, polystyrene, styrene, base chemicals and polyethylene in the United States, the company's refineries produce transportation fuels and other petroleum-based products for global markets.
- LG Chem Company was established in 1961 as Hindustan Polymers to manufacture polystyrene and its co-polymers in Visakhapatnam, India, in 1978 by Mc Dowell & Co. of the UB Group. Ltd, the company is one of the leading polystyrene and expanded manufacturers. Polystyrene in India.
- SABIC is a market leader in key products such as ethylene, ethylene glycol, methanol, MTBE, polyethylene and engineering plastics and their derivatives.
- The Dow Chemical Company is a manufacturer and supplier of raw materials for products in a variety of industries, including appliances, automotive, agriculture, chemical processing, electronics, oil and gas, and processed foods.
- Foam Technologies, Inc. was established in Perth to manufacture polystyrene profiles and architectural moldings for the building industry.
Polystyrene Market Company Profile
- INEOS Styrolutionn Group GmbH*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- BASF SE
- Formosa Chemicals & Fiber Corporation
- Videolar-Innova S/A
- Trinseo
- Total Petrochemicals & Refining USA, Inc.
- LG Chem
- SABIC
- Dow Chemical Company
- Foam Technologies, Inc.
“*” marked represents similar segmentation in other categories in the respective section
Polystyrene Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Types
- Key Thickness Insights
- Secondary Data
- Major Secondary Types
- Secondary Types
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for medical carts Strategies
- Key Questions this Study will Answer
- Market Snippet, By Type
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Polystyrene Market, By Type
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Antiseptic & Astringent
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Cleaning Agent
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Solvent
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Chemical Intermediate
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Polystyrene Market, By Application, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Cosmetics & Personal care
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Pharmaceutical
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Food & Beverages
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Agrochemicals
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Polystyrene Market, By Region, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- Tokuyama Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Deepak Fertilizers & Petrochemicals Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- LG Chem
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Kailing Chemical Co., Ltd
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Exxon Mobil Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Puritan Products
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- DongYing Naire Technology
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- INEOS Enterprises
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Mitsui Chemicals, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- LCY Group
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
Polystyrene Market is segmented into basis of on type, application, and region.
Increasing construction activities of sustainable commercial and residential buildings, which can easily withstand extreme external environmental factors, is expected to propel the market growth during the forecast period.
Asia Pacific region has experienced high growth, the market in Asia Pacific region is mainly driven by India and China being the major consumers.
The Key players operating in the Polystyrene Market includes INEOS Styrolutionn Group GmbH, BASF SE, Formosa Chemicals & Fiber Corporation, Videolar-Innova S/A, Trinseo, Total Petrochemicals & Refining USA, Inc., LG Chem, SABIC, Dow Chemical Company, Foam Technologies, Inc.