PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1068686
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1068686
Global Polystyrene Market, By Resin Type ; By Product Type ; By End-Use Industry ; By Region ; Trend Analysis, Competitive Market Share & Forecast, 2018-2028
Global Polystyrene Market to Boost in Coming Years - Projected to Reach Worth USD 44.8 Billion in 2028
The growth of the polystyrene market can be primarily attributed to the increasing rates of industrialization and globalization throughout the world. Moreover, the rising demand for eco-friendly, durable, light weight and sustainable goods and components, due to their acoustic and thermal insulation, in the construction, automotive, and packaging sectors are also responsible for driving the market growth..
A recent study by the strategic consulting and market research firm; BlueWeave Consulting revealed that the Global Polystyrene Market was worth USD 31.6 billion in 2021 and is projected to reach USD 44.8 billion by the year 2028, growing at a CAGR of 5.2% over the analysis period of 2022-2028. This can be attributed to the wide range of lucrative benefits offered by polystyrene like high heat &impact resistance, excellent optical clarity, good electrical insulation, flame retardation and strong chemical resistance which makes it a preferred choice among various end-use industries like automotive, construction, packaging and electronics industries among others which is driving the growth of the global polystyrene market during the forecast period 2022-2028.
Burgeoning Demand by Building and Construction Sector Driving the Global Polystyrene Market Growth
The polystyrene is employed in many facets of building work such as large structures like roads, public buildings, railway lines, or even small family residences. The characteristics polystyrene that make it perfect for use include insulation, light weight filler, an element for imaginative touches, or a lightweight filling substance in roads that facilitates land drainage, among others. Moreover, polystyrene offers a perfect combination of physical and mechanical features that make it appropriate for use in the construction industry. Additionally, polystyrene is a perfect packaging material due to being lightweight, water resistant, non-abrasive, and having outstanding cushioning ability.
Packaging Industry to Grow at A Higher Growth Rate During the Forecast Period
Packaging Sector is expected to grow with the highest CAGR during the forecast period 2022-2028.It will be closely followed by the electronics sector which is also expected to grow at a substantial rate. This can be attributed to deep penetration of polystyrene in the packaging and electronics industry. The packaging sector is the largest deployer of high impact polystyrene (HIPS). Furthermore, it is used in food packaging such as egg cartons, meat trays, fruit trays, dairy packaging, etc.; industrial packaging as well as consumer packaging including CD covers, cassettes and others.
Impact of COVID-19 On The Global Polystyrene Market
As a result of the COVID-19 pandemic, the world witnessed one of the worst recessions since WW2. The global Polystyrene market has also been brutally impacted by the emergence of the COVID-19 pandemic. Several governments around the world imposed rigorous lockdowns thus vividly hampering the building and construction, transportation, packaging, electrical, and electronics industries, which are the most important end-user industries for the polystyrene market. Nevertheless, with the improving market circumstances in the post covid era, the growth of the Polystyrene market is likely to recover during the forecast period.
The Asia-Pacific Region Is Expected to Grow with The Highest CAGR in The Global Polystyrene Market.
In terms of regional analysis, the global polystyrene market has been classified into North America, Europe, the Asia-Pacific, Latin America and the Middle East, and Africa. Amidst the segmentation, the Asia-Pacific region is expected to be the largest growing market in the global polystyrene owing to the existence of a large packaging sector in the region. The Asia-Pacific region is the largest consumer and manufacturer of high-impact polystyrene. It accounts about half of the world's total HIPS production. Moreover, The Asia-pacific region is anticipated to exhibit the highest growth rate for polystyrene market during the forecast period on account of the growing development in construction and building industry. Europe is expected to witness significant amount of growth in the polystyrene market owing to the introduction of the guidelines to be recognized by the lightweight goods in the end use industries.
Competitive Landscape
The polystyrene market is a semi-consolidated market. The key players operating in the global polystyrene market are Styrolution Group GMBH, Total Petrochemicals, BASF SE, Formosa Chemicals & Fiber Corporation, Kumho Petrochemicals Ltd., Chi Mei Corporation, SABIC, Trinseo, Videolar, S/A, The Dow Chemical Company, Kaneka Corporation, ACH Foam, Technologies' PJSC Sibur Holding LLC, Support Kunststoff GmbH, Synthos S.A, Synbra, Holding B.V. and other prominent players. The players maintain their dominance in the market by enhancing their production capabilities, research, and development activities, and launching improved products for the customers. Different strategies are adopted like engaging in strategic alliances, agreements, mergers, and collaborations.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Research Methodology
- 2.1. Qualitative Research
- 2.1.1. Primary & Secondary Research
- 2.2. Quantitative Research
- 2.3. Market Breakdown & Data Triangulation
- 2.3.1. Secondary Research
- 2.3.2. Primary Research
- 2.4. Breakdown of Primary Research Respondents, By Region
- 2.5. Assumption & Limitation
3. Executive Summary
4. Global Polystyrene Market Insights
- 4.1. Industry Value Chain Analysis
- 4.2. DROC Analysis
- 4.2.1. Growth Drivers
- 4.2.2. Restraints
- 4.2.3. Opportunities
- 4.2.4. Challenges
- 4.3. Technological Landscape/Recent Development
- 4.4. Regulatory Framework
- 4.5. Porter's Five Forces Analysis
- 4.5.1. Bargaining Power of Suppliers
- 4.5.2. Bargaining Power of Buyers
- 4.5.3. Threat of New Entrants
- 4.5.4. Threat of Substitutes
- 4.5.5. Intensity of Rivalry
5. Global Polystyrene Market Overview
- 5.1. Market Size & Forecast by Value, 2018-2028
- 5.1.1. By Value (USD Million)
- 5.2. Market Size & Forecast by Volume, 2018-2028
- 5.2.1. By Volume (Kilo Tons)
- 5.3. Market Share & Forecast
- 5.3.1. By Resin Type
- 5.3.1.1. General Purpose Polystyrene
- 5.3.1.2. High Impact Polystyrene
- 5.3.1.3. Expandable Polystyrene
- 5.3.2. By Form Type
- 5.3.2.1. Foams
- 5.3.2.2. Films and Sheets
- 5.3.2.3. Injection Molding
- 5.3.2.4. Other
- 5.3.3. By End-Use Industry
- 5.3.3.1. Packaging
- 5.3.3.2. Building, and Construction
- 5.3.3.3. Electrical and Electronics
- 5.3.3.4. Consumer Goods
- 5.3.3.5. Other End-user Industries
- 5.3.4. By Region
- 5.3.4.1. North America
- 5.3.4.2. Europe
- 5.3.4.3. The Asia Pacific
- 5.3.4.4. Latin America
- 5.3.4.5. The Middle East and Africa
- 5.3.1. By Resin Type
6. North America Polystyrene Market
- 6.1. Market Size & Forecast by Value, 2018-2028
- 6.1.1. By Value (USD Million)
- 6.2. Market Size & Forecast by Volume, 2018-2028
- 6.2.1. By Volume (Kilo Tons)
- 6.3. Market Share & Forecast
- 6.3.1. By Resin Type
- 6.3.2. By Form Type
- 6.3.3. By End-Use Industry
- 6.3.4. By Country
- 6.3.4.1. United States
- 6.3.4.2. Canada
7. Europe Polystyrene Market
- 7.1. Market Size & Forecast by Value, 2018-2028
- 7.1.1. By Value (USD Million)
- 7.2. Market Size & Forecast by Volume, 2018-2028
- 7.2.1. By Volume (Kilo Tons)
- 7.3. Market Share & Forecast
- 7.3.1. By Resin Type
- 7.3.2. By Form Type
- 7.3.3. By End-Use Industry
- 7.3.4. By Country
- 7.3.4.1. Germany
- 7.3.4.2. United Kingdom
- 7.3.4.3. Italy
- 7.3.4.4. France
- 7.3.4.5. Spain
- 7.3.4.6. Rest of Europe
8. Asia-Pacific Polystyrene Market
- 8.1. Market Size & Forecast by Value, 2018-2028
- 8.1.1. By Value (USD Million)
- 8.2. Market Size & Forecast by Volume, 2018-2028
- 8.2.1. By Volume (Kilo Tons)
- 8.3. Market Share & Forecast
- 8.3.1. By Resin Type
- 8.3.2. By Form Type
- 8.3.3. By End-Use Industry
- 8.3.4. By Country
- 8.3.4.1. China
- 8.3.4.2. India
- 8.3.4.3. Japan
- 8.3.4.4. South Korea
- 8.3.4.5. Rest of Asia Pacific
9. Latin America Polystyrene Market
- 9.1. Market Size & Forecast by Value, 2018-2028
- 9.1.1. By Value (USD Million)
- 9.2. Market Size & Forecast by Volume, 2018-2028
- 9.2.1. By Volume (Kilo Tons)
- 9.3. Market Share & Forecast
- 9.3.1. By Resin Type
- 9.3.2. By Form Type
- 9.3.3. By End-Use Industry
- 9.3.4. By Country
- 9.3.4.1. Brazil
- 9.3.4.2. Mexico
- 9.3.4.3. Rest of Latin America
10. The Middle East & Africa Polystyrene Market
- 10.1. Market Size & Forecast by Value, 2018-2028
- 10.1.1. By Value (USD Million)
- 10.2. Market Size & Forecast by Volume, 2018-2028
- 10.2.1. By Volume (Kilo Tons)
- 10.3. Market Share & Forecast
- 10.3.1. By Resin Type
- 10.3.2. By Form Type
- 10.3.3. By End-Use Industry
- 10.3.4. By Country
- 10.3.4.1. Saudi Arabia
- 10.3.4.2. UAE
- 10.3.4.3. South Africa
- 10.3.4.4. Rest of Middle East & Africa
11. Competitive Landscape
- 11.1. List of Key Players and Their Offerings
- 11.2. Market Share Analysis, 2021
- 11.3. Competitive Benchmarking, By Operating Parameters
- 11.4. Key Strategic Development (Merger, Acquisition, Partnership.)
12. Impact of Covid-19 on Global Polystyrene Market Industry
13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
- 13.1. Styrolution Group GMBH
- 13.2. Total Petrochemicals
- 13.3. BASF SE
- 13.4. Formosa Chemicals & Fiber Corporation
- 13.5. Kumho Petrochemicals Ltd.
- 13.6. Chi Mei Corporation
- 13.7. SABIC
- 13.8. Trinseo
- 13.9. Videolar S/A
- 13.10. The Dow Chemical Company
- 13.11. Kaneka Corporation
- 13.12. ACH Foam Technologies
- 13.13. PJSC Sibur Holding LLC
- 13.14. Support Kunststoff GmbH
- 13.15. Synthos S.A
- 13.16. Synbra Holding B.V.
- 13.17. Other prominent players.
14. Key Strategic Recommendations
*Financial information in case of non-listed companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
List of Figures
- Figure 1: Global Polystyrene Market Segmentation
- Figure 2: Global Polystyrene Industry Value Chain Analysis
- Figure 3: Global Polystyrene Market Size, By Value (USD Million), 2018-2028
- Figure 4: Global Polystyrene Market Size, By Volume (KT), 2018-2028
- Figure 5: Global Polystyrene Market Share (%), By Resin Type, By Value, 2018-2028
- Figure 6: Global Polystyrene Market Share (%), By Resin Type, By Volume, 2018-2028
- Figure 7: Global Polystyrene Market Share (%), By Product Type, By Value, 2018-2028
- Figure 8: Global Polystyrene Market Share (%), By Product Type, By Volume, 2018-2028
- Figure 9: Global Polystyrene Market Share (%), By End-Use, By Value, 2018-2028
- Figure 10: Global Polystyrene Market Share (%), By End-Use, By Volume, 2018-2028
- Figure 11: Global Polystyrene Market Share (%), By Region, By Value, 2018-2028
- Figure 12: Global Polystyrene Market Share (%), By Region, By Volume, 2018-2028
- Figure 13: North America Polystyrene Market Size, By Value (USD Million), 2018-2028
- Figure 14: North America Polystyrene Market Size, By Volume (KT), 2018-2028
- Figure 15: North America Polystyrene Market Share (%), By Resin Type, By Value, 2018-2028
- Figure 16: North America Polystyrene Market Share (%), By Resin Type, By Volume, 2018-2028
- Figure 17: North America Polystyrene Market Share (%), By Product Type, By Value, 2018-2028
- Figure 18: North America Polystyrene Market Share (%), By Product Type, By Volume, 2018-2028
- Figure 19: North America Polystyrene Market Share (%), By End-Use, By Value, 2018-2028
- Figure 20: North America Polystyrene Market Share (%), By End-Use, By Volume, 2018-2028
- Figure 21: North America Polystyrene Market Share (%), By Country, By Value, 2018-2028
- Figure 22: North America Polystyrene Market Share (%), By Country, By Volume, 2018-2028
- Figure 23: Europe Polystyrene Market Size, By Value (USD Million), 2018-2028
- Figure 24: Europe Polystyrene Market Size, By Volume (KT), 2018-2028
- Figure 25: Europe Polystyrene Market Share (%), By Resin Type, By Value, 2018-2028
- Figure 26: Europe Polystyrene Market Share (%), By Resin Type, By Volume, 2018-2028
- Figure 27: Europe Polystyrene Market Share (%), By Product Type, By Value, 2018-2028
- Figure 28: Europe Polystyrene Market Share (%), By Product Type, By Volume, 2018-2028
- Figure 29: Europe Polystyrene Market Share (%), By End-Use, By Value, 2018-2028
- Figure 30: Europe Polystyrene Market Share (%), By End-Use, By Volume, 2018-2028
- Figure 31: Europe Polystyrene Market Share (%), By Country, By Value, 2018-2028
- Figure 33: Europe Polystyrene Market Share (%), By Country, By Volume, 2018-2028
- Figure 34: The Asia-Pacific Polystyrene Market Size, By Value (USD Million), 2018-2028
Figure35: The Asia-Pacific Polystyrene Market Size, By Volume (KT), 2018-2028
Figure36: The Asia-Pacific Polystyrene Market Share (%), By Resin Type, By Value, 2018-2028
- Figure 37: The Asia-Pacific Polystyrene Market Share (%), By Resin Type, By Volume, 2018-2028
- Figure 38: The Asia-Pacific Polystyrene Market Share (%), By Product Type, By Value, 2018-2028
- Figure 39: The Asia-Pacific Polystyrene Market Share (%), By Product Type, By Volume, 2018-2028
- Figure 40: The Asia-Pacific Polystyrene Market Share (%), By End-Use, By Value, 2018-2028
- Figure 41: The Asia-Pacific Polystyrene Market Share (%), By End-Use, By Volume, 2018-2028
- Figure 42: The Asia-Pacific Polystyrene Market Share (%), By Country, By Value, 2018-2028
- Figure 43: The Asia-Pacific Polystyrene Market Share (%), By Country, By Volume, 2018-2028
- Figure 44: Latin America Polystyrene Market Size, By Value (USD Million), 2018-2028
- Figure 45: Latin America Polystyrene Market Size, By Volume (KT), 2018-2028
- Figure 46: Latin America Polystyrene Market Share (%), By Resin Type, By Value, 2018-2028
- Figure 47: Latin America Polystyrene Market Share (%), By Resin Type, By Volume, 2018-2028
- Figure 48: Latin America Polystyrene Market Share (%), By Product Type, By Value, 2018-2028
- Figure 49: Latin America Polystyrene Market Share (%), By Product Type, By Volume, 2018-2028
- Figure 50: Latin America Polystyrene Market Share (%), By End-Use, By Value, 2018-2028
- Figure 51: Latin America Polystyrene Market Share (%), By End-Use, By Volume, 2018-2028
- Figure 52: Latin America Polystyrene Market Share (%), By Country, By Value, 2018-2028
- Figure 53: Latin America Polystyrene Market Share (%), By Country, By Volume, 2018-2028
- Figure 54: The Middle East & Africa Polystyrene Market Size, By Value (USD Million), 2018-2028
- Figure 55: The Middle East & Africa Polystyrene Market Size, By Volume (KT), 2018-2028
- Figure 56: The Middle East & Africa Polystyrene Market Share (%), By Resin Type, By Value, 2018-2028
- Figure 57: The Middle East & Africa Polystyrene Market Share (%), By Resin Type, By Volume, 2018-2028
- Figure 58: The Middle East & Africa Polystyrene Market Share (%), By Product Type, By Value, 2018-2028
- Figure 59: The Middle East & Africa Polystyrene Market Share (%), By Product Type, By Volume, 2018-2028
- Figure 60: The Middle East & Africa Polystyrene Market Share (%), By End-Use, By Value, 2018-2028
- Figure 61: The Middle East & Africa Polystyrene Market Share (%), By End-Use, By Volume, 2018-2028
- Figure 62: The Middle East & Africa Polystyrene Market Share (%), By Country, By Value, 2018-2028
- Figure 63: The Middle East & Africa Polystyrene Market Share (%), By Country, By Volume, 2018-2028
- Figure 64: Global Polystyrene Market Share Analysis, 2021
List of Tables
- Table 1: Global Polystyrene Market Size, By Resin Type, By Value (USD Million), 2018-2028
- Table 2: Global Polystyrene Market Size, By Resin Type, By Volume (KT), 2018-2028
- Table 3: Global Polystyrene Market Size, By Product Type, By Value (USD Million), 2018-2028
- Table 4: Global Polystyrene Market Size, By Product Type, By Volume (KT), 2018-2028
- Table 5: Global Polystyrene Market Size, By End-Use, By Value (USD Million), 2018-2028
- Table 6: Global Polystyrene Market Size, By End-Use, By Volume (KT), 2018-2028
- Table 7: Global Polystyrene Market Size. By Region, By Value (USD Million), 2018-2028
- Table 8: Global Polystyrene Market Size. By Region, By Volume (KT), 2018-2028
- Table 9: North America Polystyrene Market Size, By Resin Type, By Value (USD Million), 2018-2028
- Table 10: North America Polystyrene Market Size, By Resin Type, By Volume (KT), 2018-2028
- Table 11: North America Polystyrene Market Size, By Product Type, By Value (USD Million), 2018-2028
- Table 12: North America Polystyrene Market Size, By Product Type, By Volume (KT), 2018-2028
- Table 13: North America Polystyrene Market Size, By End-Use, By Value (USD Million), 2018-2028
- Table 14: North America Polystyrene Market Size, By End-Use, By Volume (KT), 2018-2028
- Table 15: 28 North America Polystyrene Market Size (USD Million), By Country, By Value 2018-2028
- Table 16: North America Polystyrene Market Size (KT), By Country, By Volume 2018-2028
- Table 17: Europe Polystyrene Market Size, By Resin Type, By Value (USD Million), 2018-2028
- Table 18: Europe Polystyrene Market Size, By Resin Type, By Volume (KT), 2018-2028
- Table 19: Europe Polystyrene Market Size, By Product Type, By Value (USD Million), 2018-2028
- Table 20: Europe Polystyrene Market Size, By Product Type, By Volume (KT), 2018-2028
- Table 21: Europe Polystyrene Market Size, By End-Use, By Value (USD Million), 2018-2028
- Table 22: Europe Polystyrene Market Size, By End-Use, By Volume (KT), 2018-2028
- Table 23: Europe Polystyrene Market Size (USD Million), By Country, By Value 2018-2028
- Table 24: Europe Polystyrene Market Size (KT), By Country, By Volume 2018-2028
- Table 25: The Asia-Pacific Polystyrene Market Size, By Resin Type, By Value (USD Million), 2018-2028
- Table 26: The Asia-Pacific Polystyrene Market Size, By Resin Type, By Volume (KT), 2018-2028
- Table 27: The Asia-Pacific Polystyrene Market Size, By Product Type, By Value (USD Million), 2018-2028
- Table 28: The Asia-Pacific Polystyrene Market Size, By Product Type, By Volume (KT), 2018-2028
- Table 29: The Asia-Pacific Polystyrene Market Size, By End-Use, By Value (USD Million), 2018-2028
- Table 30: The Asia-Pacific Polystyrene Market Size, By End-Use, By Volume (KT), 2018-2028
- Table 31: 52 The Asia-Pacific Polystyrene Market Size (USD Million), By Country, By Value 2018-2028
- Table 32: The Asia-Pacific Polystyrene Market Size (KT), By Country, By Volume 2018-2028
- Table 33: Latin America Polystyrene Market Size, By Resin Type, By Value (USD Million), 2018-2028
- Table 34: Latin America Polystyrene Market Size, By Resin Type, By Volume (KT), 2018-2028
- Table 35: Latin America Polystyrene Market Size, By Product Type, By Value (USD Million), 2018-2028
- Table 36: Latin America Polystyrene Market Size, By Product Type, By Volume (KT), 2018-2028
- Table 37: Latin America Polystyrene Market Size, By End-Use, By Value (USD Million), 2018-2028
- Table 38: Latin America Polystyrene Market Size, By End-Use, By Volume (KT), 2018-2028
- Table 39: 64 Latin America Polystyrene Market Size (USD Million), By Country, By Value 2018-2028
- Table 40: Latin America Polystyrene Market Size (KT), By Country, By Volume 2018-2028
- Table 41: The Middle East & Africa Polystyrene Market Size, By Resin Type, By Value (USD Million), 2018-2028
- Table 42: The Middle East & Africa Polystyrene Market Size, By Resin Type, By Volume (KT), 2018-2028
- Table 43: The Middle East & Africa Polystyrene Market Size, By Product Type, By Value (USD Million), 2018-2028
- Table 44: The Middle East & Africa Polystyrene Market Size, By Product Type, By Volume (KT), 2018-2028
- Table 45: The Middle East & Africa Polystyrene Market Size, By End-Use, By Value (USD Million), 2018-2028
- Table 46: The Middle East & Africa Polystyrene Market Size, By End-Use, By Volume (KT), 2018-2028
- Table 47: 76 The Middle East & Africa Polystyrene Market Size (USD Million), By Country, By Value 2018-2028
- Table 48: The Middle East & Africa Polystyrene Market Size (KT), By Country, By Volume 2018-2028
- Table 49: List of Key Players and Their Offerings
- Table 50: Competitive Benchmarking, by Operating Parameters
- Table 51: Styrolution Group GMBH Company Overview
- Table 52: Styrolution Group GMBH Financial Overview
- Table 53: Total Petrochemicals Company Overview
- Table 54: Total Petrochemicals Financial Overview
- Table 55: Formosa Chemicals & Fiber Corporation Company Overview
- Table 56: Formosa Chemicals & Fiber Corporation Financial Overview
- Table 57: Kumho Petrochemicals Ltd. Company Overview
- Table 58: Kumho Petrochemicals Ltd. Financial Overview
- Table 59: SABIC Company Overview
- Table 60: SABIC Financial Overview
- Table 61: Videolar S/A Company Overview
- Table 62: Videolar S/A Financial Overview
- Table 63: The Dow Chemical Company Overview
- Table 64: The Dow Chemical Company Financial Overview
- Table 65: Kaneka Corporation Company Overview
- Table 66: Kaneka Corporation Financial Overview
- Table 67: ACH Foam Technologies Company Overview
- Table 68: ACH Foam Technologies Financial Overview
- Table 69: PJSC Sibur Holding LLC Company Overview
- Table 70: PJSC Sibur Holding LLC Financial Overview
- Table 71: Support Kunststoff GmbH Company Overview
- Table 72: Support Kunststoff GmbH Financial Overview
- Table 73: Synthos S.A Company Overview
- Table 74: Synthos S.A Financial Overview
- Table 75: Synbra Holding B.V. Company Overview
- Table 76: Synbra Holding B.V. Financial Overview
