The global Polystyrene (PS) Market size was valued at USD 9.70 billion in 2022 and is projected to grow from USD 9.49 Billion in 2030 to USD 9.99 Billion by 2030, at a CAGR of 0.7% during the forecast period from 2023 to 2030.
Market Overview
The research firm Contrive Datum Insights has just recently added to its database a report with the heading global Polystyrene (PS) Market . Both primary and secondary research methodologies have been utilised in order to conduct an analysis of the worldwide Polystyrene (PS) Market . In order to provide a comprehensive comprehension of the topic at hand, it has been summed up using appropriate and accurate market insights. According to Contrive Datum Insights, this worldwide comprehensive report is broken up into several categories in order to present the data in a way that is understandable, succinct, and presented in a professional manner. The polymer polystyrene (PS) has many applications and is used in numerous commercial products. Because of its rigidity and clarity, it finds widespread application in fields such as laboratory equipment and food storage containers. When combined with the right additives and polymers, this plastic is perfect for use in things like automobile components, electronics, toys, and instruments. The growth of the worldwide electrical and electronics industry is the primary factor propelling the market. Potential for development will also be fostered by efforts to increase PS recycling capacity. Market expansion will be stifled, though, due to the introduction of stringent regulations in North America and Europe. Market size for polystyrene (PS) is estimated and forecast in terms of sales volume (K units) and revenue (million USD) for the period 2017–2030, with 2022 as the base year. This study breaks down the worldwide PS market into its component segments. Product, application, and key player market sizes by region are also provided. The effects of COVID-19 and other global crises were considered when calculating the estimated size of the market. Market research firm Transparency Market Research has released its latest report on the global Polystyrene (PS) market, which provides a thorough analysis of the industry from a number of angles. This worldwide study was compiled using data collected from numerous market segments and sub-segments.
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Segment Analysis
It encompasses the most important key players in the world’s various regions and contains them. In this research report, several different techniques that high-level industries have utilised to achieve their goals are discussed. In order to obtain a more in-depth analysis of a number of different businesses, player profiles of the most important top players have been developed. It is beneficial to have an understanding of the worldwide competition on both the domestic and international platforms.
It provides a detailed description of the drivers and opportunities in the Polystyrene (PS) Market , which assists current customers and potential customers in gaining a clear vision and making decisions that are most effective for them. In order to discover the desired facts regarding the target market, various types of analysis models, such as Polystyrene (PS) Market , are utilised. In addition to this, it includes a variety of different techniques for strategic planning, which encourages the way to define and develop the framework of the various industries.General-purpose polystyrene (GPPS) and high-impact polystyrene (HIPS) are the two main types of polystyrene, and their respective markets are distinct (HIPS). Within the predicted time frame, HIPS is anticipated to show the highest growth rate. The segment is expected to grow primarily as a result of rising interest in using packaged goods. Multiple HIPS grades are engineered to have superior impact resistance for applications like water tankers and refrigeration liners. The global market for packaging materials can be broken down into the following submarkets based on end use: food & beverage, pharmaceutical, personal care, food & beverage, construction, transportation, electrical & electronics, agriculture, home & garden, and others. In 2020, the packaging industry was the most lucrative. The expansion of this market is associated with increased demand from the automotive and food and beverage industries. The product’s lightweight construction, combined with its shock-absorbing properties and thermal insulation, make it an excellent choice for packaging.
Based on types, the Polystyrene (PS) Market is segmented into:
- EPS
- HIPS
- SPS
Based on application, the Polystyrene (PS) Market is segmented into:
- Packaging
- Electronics
- Consumer Goods & Appliances
- Construction
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Recent Development
Commercial polystyrene recycling facilities were constructed in Europe by INEOS Styrolution, Recycling Technologies, and Trinseo in April 2021. Recycling Technologies has been chosen as the technology partner for this development.
TotalEnergies’ polystyrene business in China, including its Ningbo and Foshan production facilities, was acquired by INEOS Styrolution in February 2019. All of the equity in the two locations was purchased as part of the deal. USD 210.7 million was exchanged to finalize the deal.
Regional Analysis
North America, Latin America, the Middle East, Asia-Pacific, Africa, Europe, and India are just some of the regions studied to determine how the global Polystyrene (PS) market is developing. At present, and for the foreseeable future, this market is dominated by the Polystyrene (PS) region of the world. As of the year 2020, the Asia-Pacific market was estimated to be worth $4.26 billion. In 2020, the region’s share of the market was the highest, and forecasts put it in the lead through 2028. India and China, two of the region’s largest economies, are the region’s primary consumer markets. Most electronics are now made in China. Styrofoam use in North America will increase as the retail industry grows, increasing the need for insulation materials. Major producers of electric vehicles, such as Tesla Inc., are also based in the area. Rapid adoption of EVs in the United States bodes well for economic development there. Increasing investments in EU countries to promote green and circular economy are the primary factor driving the market growth in Europe. If they are going to achieve the Sustainable Development Goals by 2030, these nations must increase their recycling capacity. Several countries, including the Netherlands, Italy, and Belgium, are making sizable financial commitments to increase their PS recycling capacities.
Regional Polystyrene (PS) Market coverage (Regional Status, Demand Forecast, Country Trends, etc.):
- North America, Europe, China, Japan, Southeast Asia, India.
- North America (USA, Canada, and Mexico).
- Europe (Germany, France, UK, Russia and, Italy).
- Asia-Pacific (China, Japan, Korea, India and, Southeast Asia).
Key segments covered in the Polystyrene (PS) Market include:
- Polystyrene (PS) Market Growth Drivers and Barriers.
- Market Trends, Market Opportunities, Porter’s Five Forces Analysis.
- Market Overview, Industry Development, Market Maturity, Value Chain Analysis.
- Regional and Country Level Analysis.
- Trends and Forecasts for Market Segments.
- Market Analysis and Various Recommendations.
- Key market forces.
Report Customization:
This report will be customized to your needs for additional data up to 5 companies or 5 countries or nearly 40 analyst hours.
https://www.contrivedatuminsights.com/product-report/polystyrene-ps-market-20221Key Market Participants in the Polystyrene (PS) Market :
BASF, The DOW Chemicals, Boston Scientific, Axion Polymers, LG Chemical, NOVA Chemicals, Trinseo, INEOS Group Limited, and others.
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