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 2022 to 2030.
Polystyrene (PS) Market Overview:
Polystyrene (PS) is a versatile polymer used in the production of a variety of consumer products. As a hard, solid plastic, it is often used in products that require transparency, including labware and food packaging. This plastic, combined with additives and other polymers, makes it ideal for applications in auto parts, consumer electronics, toys and devices. Expansion of the global electrical and electronics industry is driving the market. In addition, the expansion of PS recycling capacity will create growth prospects. However, the implementation of stringent regulations in North America and Europe will restrain the market growth.
Polystyrene (PS) market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Polystyrene (PS) market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.
The global Polystyrene (PS) market is the professional and accurate study of various business perspectives such as major key players, key geographies, divers, restraints, opportunities, and challenges. This global research report has been aggregated on the basis of various market segments and sub-segments associated with the global market.
Industry News and Key Developments
- April 2021: INEOS Styrolution, Recycling Technologies, and Trinseo built commercial polystyrene recycling plants in Europe. In this expansion, Recycling Technologies is selected as the technology partner.
- February 2019: INEOS Styrolution acquired TotalEnergies’ polystyrene business in China, including two production sites in Ningbo and Foshan. The transaction involved the purchase of all equity interests of both sites. The transaction was completed for USD 210.7 million.
Top Key Players include in the Polystyrene (PS) Market are
BASF, The DOW Chemicals, Boston Scientific, Axion Polymers, LG Chemical, NOVA Chemicals, Trinseo, INEOS Group Limited, and others.
The Polystyrene (PS) market research report is categorized based on type, applications and region.
On the Basis of Type:
On the Basis of Application:
- Consumer Goods & Appliances
On the Basis of Region:
Geographically, the global Polystyrene (PS) market has been analyzed in various regions such as North America, Latin America, Middle East, Asia-Pacific, Africa, Europe, and India. The global Polystyrene (PS) region is dominating this market in the upcoming future.
The market size in Asia Pacific was valued at USD 4.26 billion in 2020. The region held the largest market share in 2020 and is expected to maintain its position during 2021-2028. The major drivers of the market in Asia Pacific are India and China being the major consumers. China is the manufacturing hub for most electronics.
Development and expansion of retail chains will drive the demand for insulation materials in North America, thereby driving the use of Styrofoam. Additionally, the region is home to major electric vehicle manufacturers including Tesla Inc. The surge in the usage of electric vehicles in the U.S. will aid the growth of the region.
The market growth in Europe is mainly driven by increasing investments in EU countries to promote green and circular economy. These countries are focused on increasing their recycling capacity to meet the Sustainable Development Goals by 2030. The Netherlands, Italy and Belgium are a few countries investing heavily in expanding PS recycling capacity.
Further the regions are divided into countries as follows
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Polystyrene (PS) Market report scope
The major key questions addressed through this innovative research report:
What is the CAGR of the global Polystyrene (PS) market?
The Polystyrene (PS) Market is growing at a CAGR of 0.7% During Forecast Period.
Which region would offer high growth for vendors in the Polystyrene (PS) market?
the global Polystyrene (PS) market has been analyzed in various regions such as North America
Which Is the Most potential market segment?
By Types- EPS, HIPS, SPS
By Applications - Packaging, Electronics, Consumer Goods & Appliances, Construction, Others
Which are the top industry players in the market?
BASF, The DOW Chemicals, Boston Scientific, Axion Polymers, LG Chemical, NOVA Chemicals, Trinseo, INEOS Group Limited
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