Increasing demand for polystyrene from the construction industry is one of the significant factors influencing market growth.
The global polystyrene market is expected to reach USD 36.23 Billion by 2028, according to a new report by Reports and Data. Polystyrene is produced by the polymerization of styrene, a building block material having widespread usage in producing various kinds of plastic products.
Blocks made of polystyrene are implemented in the construction of buildings for providing permanent insulation for walls of buildings along with the roofs and floors. The distinctive feature of stacking and then filling the forms with concrete, of these blocks, allow for faster and cheaper construction of buildings (including residential, commercial, and industrial construction projects) as compared to typical brick and mortar buildings. Moreover, the block system aids in saving labor and time consumed in the completion of the project and the total construction costs.
Polystyrene is a sturdy material, which makes it a preferred material for electrical insulation. It is considered safe for packing various kinds of products and is moisture resistant. Polystyrene can be colored, painted, and printed on, making it a suitable alternative for packaging. The packaging of food in polystyrene is considered to be more hygienic instead of plates that are reused after being washed and hence, disposable and reusable containers find extensive application in the food & beverage industry packaging of perishable items. Also, to safeguard the delicate items packed in boxes, packaging industries deploy several polystyrene materials. Polystyrene can be effortlessly molded to fit products comprising glassware, electronics, and chemicals to avert breakage.
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Top Companies Profiled in the Report: BASF SE, Versalis SPA, SABIC, Synthos SA, Kaneka Corporation, The Ravago Group, LG Chem, Formosa Chemicals & Fibers Corp., Ineos Styrolution Group GmbH, and Trinseol, among others.
Further key findings from the report suggest:
By forms, atactic polystyrene contributed to the largest market size in 2018. This form of polystyrene is an essential product for commercial use. It has a glass transition temperature of more than 100 ºC allowing it to be used in a variety of applications.
By resin type, high impact polystyrene (HIPS) held the largest market share in 2018 and is likely to grow at a rate of 3.0% in the forecast period. HIPS is resistant to cracks and finds usage in injection molding. Also, these kinds of resins have good dimensional stability and low cost. It is easy to paint and glue and is deployed for housing and covers, printed graphics, low-strength structural components, models and prototypes, and fixtures, among others.
Polystyrene is extensively used to manufacture sheets, which are used for making displays, prototypes, signs, models, enclosures and more. These sheets are low-cost material and are used for several general-purpose uses.
Regional Outlook
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Market Segmentation:
Forms Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- Atactic Polystyrene
- Syndiotactic Polystyrene
Resin Type Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- General Purpose Polystyrene (GPPS)
- High Impact Polystyrene (HIPS)
- Expanded Polystyrene (EPS)
Application Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- Sheets
- Foams
Industry Vertical Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- Packaging
- Consumer Goods
- Electrical & Electronics
- Construction
- Others
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Table of Contents:
Report Overview
1.1 Research Scope
1.2 Key Polystyrene market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline
Global Growth Trends
2.1 Global Polystyrene market size
2.2 Latest regional market trends
2.3 Emerging growth trends
Competitive Outlook
3.1 Global Polystyrene market key players
3.2 Global Polystyrene size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Polystyrene market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances
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