(MENAFN - GetNews) MRFR's latest study projects that the polystyrene market will register a compound annual growth rate of 4.87% during 2017 to 2023.
Polystyrene Market Overview to 2023:
MRFR's latest study projects that the polystyrene market will register a compound annual growth rate of 4.87% during 2017 to 2023. The packaging industry continues to post a strong demand for polystyrene - one of the most popular polymers in the world. Sales of the expandable variant has remained relatively strong and the trend is likely to continue throughout the review period. Polystyrene is also a preferred material for HVAC insulation. A sizeable percentage of the total market revenue is generated from sales of polystyrene for insulation application. It finds a wide-range of application from thermal insulator in buildings to consumer goods packaging insulation. As an industrial product, it delivers exceptional performance but has poor compliance with environmental regulation. The social problems of the product dampens its marketability to a certain extent.
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Global Key Players:
ü Synthos S.A
ü Kaneka Corporation
ü Saudi Basic Industries Corporation
ü INEOS Capital Limited. SA
ü NOVA Chemicals
ü Trinseo S.A
ü Chevron Phillips Chemical Company
The Asia-Pacific Polystyrene market is expected to grow due to growing application industry. China consumes largest market share in global polystyrene market. The report estimates the size of the polystyrene market, both in terms of volume and value. Huge demand in various application such as packaging, construction, and in the medical industry likely to drive the polystyrene market growth. Growing demand for automotive industry, electronics in China and India has boosted the polystyrene market demand.
The global polystyrene market is majorly segmented on the basis of types, end user, and region. Based on types of polystyrene the market is segmented into GPPS, HIPS, EPS, XPS, and others. Based on end user the market segmented into automotive industry, electronics, thermal insulation industries, pharmaceuticals, consumer industry, packaging industry, construction Industry, and based on region market is segmented into North America, Europe, APAC, Latin America, Middle East & Africa.
- Polystyrene manufacturers
- Traders and distributors of Polystyrene
- Production Process industries
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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