Polystyrene Market
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PUBLISHED: 2022 ID: SMRC21548
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Polystyrene Market Forecasts to 2028 – Global Analysis By Form Type (Injection Molding, Films and Sheets), Application (Seating, Rigid Packaging), End User, and By Geography

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4.4 (88 reviews)
Published: 2022 ID: SMRC21548

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Polystyrene Market is accounted for $32.34 billion in 2021 and is expected to reach $52.28 billion by 2028 growing at a CAGR of 7.10% during the forecast period. Polystyrene is a hard and solid plastic, which is produced through the polymerization of styrene. It is often used as a rigid, solid plastic in items requiring clarity such as food packaging and laboratory products. It's a low-cost, high-strength plastic that can be used to insulate buildings, make sterile disposable flatware, and be recycled into household building materials.

Market Dynamics:

Driver:

Increasing demand by building and construction sector


Polystyrene is utilized in many applications of building work such as large structures like roads, public buildings, railway lines, and even small family residences. The characteristics of polystyrene that makes it perfect for use include lightweight filler, an element for imaginative touches, or a lightweight filling substance. Furthermore, polystyrene offers a perfect combination of physical and mechanical features that make it suitable for use in the construction industry. Additionally, polystyrene is a perfect packaging material because of being lightweight, water-resistant, non-abrasive, and has an outstanding cushioning ability.

Restraint:

Volatility in crude oil prices


Even if the crude oil price will not affect the end price of polystyrene to a larger extent, in the future, any volatility in polystyrene price can affect the profitability of styrene producers. Consequent to fluctuations in crude oil prices, styrene producers are increasingly investing in R&D to reduce investment and cut operating costs in a bid to improve their margins. The crude oil prices and fluctuations is the factor restraining the polystyrene market in the near future.

Opportunity:

Polystyrene products can be recycled


Polystyrene products used in insulation and packaging are non-toxic and inert and are made without chlorofluorocarbons. Polystyrene products are recycled and reused in both closed-loop and open-loop processes to make a variety of durable goods and innovative new building products from recycled content foam packaging. Value-added plastic products and stone manufactured from post-consumer and post-commercial expandable polystyrene decrease the amount of virgin material required. New applications are driving the recycling gains, with progress in recycling technology, integrated chain management principles, and collaborative collection programs.

Threat:

Stringent regulations


Increasing stringent regulations on plastic materials is a major restraint on the polystyrene market. Products in the polystyrene market are potentially hazardous during the manufacturing stages because the manufacturing processes involve reactions that can be dangerous unless controlled carefully. Government organizations and regulators are strictly assessing and managing the risks involved in the production and utilization of polystyrene. Polystyrene manufacturers are instructed to be compliant with complex regulations that govern labeling, handling, manufacturing, and shipping and storage of the product, leading to an increase in compliance costs for the manufacturers.

The expandable polystyrene (EPS) segment is expected to be the largest during the forecast period

The expandable polystyrene (EPS) segment is estimated to have a lucrative growth owing to the growth in the building & construction industry as it is primarily used for improving the insulation of buildings. The use of expandable polystyrene (EPS) in emerging countries is likely to act as a growth opportunity for the market in the future. EPS is a lightweight thermoplastic material with special properties because of its structure that helps protect the product from getting damaged.

The building and construction segment is expected to have the highest CAGR during the forecast period

The building and construction segment is anticipated to witness the fastest CAGR growth during the forecast period as polystyrene has ideal physical and mechanical properties for most insulating needs. It is a perfect choice for design elements, and for green building, offers tangible environmental benefits that can maximize energy efficiency, provides improved indoor environmental quality, and enhances durability.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period due to increasing demand from the domestic front and rising income levels, government proposals to improve public infrastructure, and rising cash-intensive non-residential construction. The easy availability of low-cost labor and economical & accessible raw materials are increasing the production of polystyrene in the region, thereby driving foreign investments.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period owing to growing demand from the automotive, packaging, and construction industries. Because of its strong environmental advantages, which provide an improved interior atmosphere, optimal energy efficiency, and increased durability, fuels the product demand for green building design applications in the European market.

Key players in the market

Some of the key players profiled in the Polystyrene Market include Videolar S/A., Alpek SAB DE CV, INEOS Styrolution Group GmbH, The DOW Chemical Company, Synthos, BASF SE, LG Chem, Kumho Petrochemicals Ltd., Innova, Total Petrochemicals, Formosa Chemicals & Fibre Corporation, CHI MEI Corporation, SABIC, Atlas Molded Products, Styrolution Group GmbH, ACH Foam Technologies Llc and Trinseo.   

Key Developments:

In February 2019, INEOS Styrolution Group GmbH acquired two polystyrene sites from Total S.A. The acquisition includes two polystyrene production sites in Ningbo and Foshan and two related offices in Guangzhou and Shanghai. The acquisition will increase INEOS Styrolution’s manufacturing footprint in Asia and provide access to the domestic market in China.

In August 2018, Atlas Roofing Corporation acquired ACH Foam Technologies to expand and enhance Atlas’s product portfolio and strengthen its position in the North American market. The addition of ACH Foam Technologies brings decades of experience, diverse product offerings and a wide range of advanced technology to Atlas Roofing's expanded polystyrene foam business and establishes the largest manufacturer of molded polystyrene in North America.
 
Production Techniques Covered:
• Suspension Polymerization
• Solution Polymerization
• Emulsion Polymerization
 
Form Types Covered:
• Injection Molding
• Films and Sheets
• Foams
 
Resin Types Covered:
• High Impact Polystyrene (HIPS)
• General Purpose Polystyrene (GPPS)
• Expandable Polystyrene (EPS)
 
Applications Covered:
• Seating 
• Rigid Packaging 
• Heating, Ventilation and Air Conditioning (HVAC) Insulation 
• Flexible Packaging 
 
End Users Covered:
• Automotive  
• Pharmaceuticals  
• Household Leisures & Sports  
• Food Service  
• Electrical and Electronics  
• Consumer Goods & Appliances  
• Building and Construction  
• Packaging  
• Agriculture  
• Healthcare & Medical  

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

 

Table of Contents

1 Executive Summary            
              
2 Preface       
      
 2.1 Abstract            
 2.2 Stake Holders            
 2.3 Research Scope           
 2.4 Research Methodology          
  2.4.1 Data Mining          
  2.4.2 Data Analysis          
  2.4.3 Data Validation          
  2.4.4 Research Approach          
 2.5 Research Sources           
  2.5.1 Primary Research Sources         
  2.5.2 Secondary Research Sources         
  2.5.3 Assumptions          
              
3 Market Trend Analysis           
 3.1 Introduction           
 3.2 Drivers            
 3.3 Restraints           
 3.4 Opportunities           
 3.5 Threats            
 3.6 Application Analysis          
 3.7 End User Analysis           
 3.8 Emerging Markets           
 3.9 Impact of Covid-19           
              
4 Porters Five Force Analysis           
 4.1 Bargaining power of suppliers          
 4.2 Bargaining power of buyers          
 4.3 Threat of substitutes          
 4.4 Threat of new entrants          
 4.5 Competitive rivalry           
              
5 Global Polystyrene Market, By Production Technique        
 5.1 Introduction           
 5.2 Suspension Polymerization          
 5.3 Solution Polymerization          
 5.4 Emulsion Polymerization          
              
6 Global Polystyrene Market, By Form Type         
 6.1 Introduction            
 6.2 Injection Molding           
 6.3 Films and Sheets           
 6.4 Foams            
              
7 Global Polystyrene Market, By Resin Type         
 7.1 Introduction           
 7.2 High Impact Polystyrene (HIPS)         
 7.3 General Purpose Polystyrene (GPPS)         
 7.4 Expandable Polystyrene (EPS)          
  7.4.1 Extruded Polystyrene (XPS)         
  7.4.2 Expanded Polystyrene (EPS)         
              
8 Global Polystyrene Market, By Application         
 8.1 Introduction           
 8.2 Seating            
 8.3 Rigid Packaging           
 8.4 Heating, Ventilation and Air Conditioning (HVAC) Insulation       
 8.5 Flexible Packaging           
              
9 Global Polystyrene Market, By End User           
 9.1 Introduction           
 9.2 Automotive           
 9.3 Pharmaceuticals           
 9.4 Household Leisures & Sports          
 9.5 Food Service           
 9.6 Electrical and Electronics          
 9.7 Consumer Goods & Appliances         
 9.8 Building and Construction          
 9.9 Packaging           
 9.10 Agriculture           
 9.11 Healthcare & Medical          
              
10 Global Polystyrene Market, By Geography         
 10.1 Introduction           
 10.2 North America            
  10.2.1 US           
  10.2.2 Canada           
  10.2.3 Mexico           
 10.3 Europe            
  10.3.1 Germany           
  10.3.2 UK           
  10.3.3 Italy           
  10.3.4 France           
  10.3.5 Spain           
  10.3.6 Rest of Europe          
 10.4 Asia Pacific           
  10.4.1 Japan           
  10.4.2 China           
  10.4.3 India           
  10.4.4 Australia           
  10.4.5 New Zealand          
  10.4.6 South Korea          
  10.4.7 Rest of Asia Pacific          
 10.5 South America           
  10.5.1 Argentina          
  10.5.2 Brazil           
  10.5.3 Chile           
  10.5.4 Rest of South America         
 10.6 Middle East & Africa          
  10.6.1 Saudi Arabia          
  10.6.2 UAE           
  10.6.3 Qatar           
  10.6.4 South Africa          
  10.6.5 Rest of Middle East & Africa         
              
11 Key Developments            
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures       
 11.2 Acquisitions & Mergers          
 11.3 New Product Launch          
 11.4 Expansions           
 11.5 Other Key Strategies          
              
12 Company Profiling            
 12.1 Videolar S/A.           
 12.2 Alpek SAB DE CV           
 12.3 INEOS Styrolution Group GmbH         
 12.4 The DOW Chemical Company          
 12.5 Synthos            
 12.6 BASF SE            
 12.7 LG Chem            
 12.8 Kumho Petrochemicals Ltd.          
 12.9 Innova            
 12.10 Total Petrochemicals          
 12.11 Formosa Chemicals & Fibre Corporation         
 12.12 CHI MEI Corporation          
 12.13 SABIC            
 12.14 Atlas Roofing Corporation          
 12.15 Styrolution Group GmbH          
 12.16 ACH Foam Technologies Llc           
 12.17 Trinseo            


List of Tables             
1 Global Polystyrene Market Outlook, By Region (2020-2028) ($MN)       
2 Global Polystyrene Market Outlook, By Production Technique (2020-2028) ($MN)      
3 Global Polystyrene Market Outlook, By Suspension Polymerization (2020-2028) ($MN)     
4 Global Polystyrene Market Outlook, By Solution Polymerization (2020-2028) ($MN)      
5 Global Polystyrene Market Outlook, By Emulsion Polymerization (2020-2028) ($MN)     
6 Global Polystyrene Market Outlook, By Form Type (2020-2028) ($MN)       
7 Global Polystyrene Market Outlook, By Injection Molding (2020-2028) ($MN)      
8 Global Polystyrene Market Outlook, By Films and Sheets (2020-2028) ($MN)      
9 Global Polystyrene Market Outlook, By Foams (2020-2028) ($MN)       
10 Global Polystyrene Market Outlook, By Resin Type (2020-2028) ($MN)       
11 Global Polystyrene Market Outlook, By High Impact Polystyrene (HIPS) (2020-2028) ($MN)     
12 Global Polystyrene Market Outlook, By General Purpose Polystyrene (GPPS) (2020-2028) ($MN)    
13 Global Polystyrene Market Outlook, By Expandable Polystyrene (EPS) (2020-2028) ($MN)     
14 Global Polystyrene Market Outlook, By Extruded Polystyrene (XPS) (2020-2028) ($MN)      
15 Global Polystyrene Market Outlook, By Expanded Polystyrene (EPS) (2020-2028) ($MN)     
16 Global Polystyrene Market Outlook, By Application (2020-2028) ($MN)       
17 Global Polystyrene Market Outlook, By Seating (2020-2028) ($MN)       
18 Global Polystyrene Market Outlook, By Rigid Packaging (2020-2028) ($MN)      
19 Global Polystyrene Market Outlook, By Heating, Ventilation and Air Conditioning (HVAC) Insulation (2020-2028) ($MN)  
20 Global Polystyrene Market Outlook, By Flexible Packaging (2020-2028) ($MN)      
21 Global Polystyrene Market Outlook, By End User (2020-2028) ($MN)       
22 Global Polystyrene Market Outlook, By Automotive (2020-2028) ($MN)       
23 Global Polystyrene Market Outlook, By Pharmaceuticals (2020-2028) ($MN)       
24 Global Polystyrene Market Outlook, By Household Leisures & Sports (2020-2028) ($MN)     
25 Global Polystyrene Market Outlook, By Food Service (2020-2028) ($MN)       
26 Global Polystyrene Market Outlook, By Electrical and Electronics (2020-2028) ($MN)     
27 Global Polystyrene Market Outlook, By Consumer Goods & Appliances (2020-2028) ($MN)     
28 Global Polystyrene Market Outlook, By Building and Construction (2020-2028) ($MN)     
29 Global Polystyrene Market Outlook, By Packaging (2020-2028) ($MN)       
30 Global Polystyrene Market Outlook, By Agriculture (2020-2028) ($MN)       
31 Global Polystyrene Market Outlook, By Healthcare & Medical (2020-2028) ($MN)      
              
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
              
              

 

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