Market Research Report
Global Specialty Polystyrene Resin Market - 2019-2026
|Published by||DataM Intelligence||Product code||909713|
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|Global Specialty Polystyrene Resin Market - 2019-2026|
|Published: December 1, 2019||Content info:||
Polystyrene or PS, a thermoplastic resin made by polymerizing styrene monomer (SM), is one of the most widely used plastic materials. They are used in many areas such as disposables, small home appliances, stationeries depending on the respective properties.
Specialty polystyrene possess better transparency, electric characteristics, water resistance, and color ability. This resin best suits for food packing containers, foaming products such as disposable containers.
Specialty Polystyrene Resin market is segmented by function, application and geography. By function the market is segmented into Protection, Insulation, cushioning and others. By application the market is further segmented by building and construction, automotive transportation, electronics, healthcare and others. whereas by geography the market is divided into North America, South America, Europe, Asia Pacific and Rest of the World.
Specialty polystyrene resin is a lightweight polymer foam. These resins are used in the packaging industry as a protection layer. while in automotive, building & construction, electrical & electronics industries Specialty polystyrene resins are majorly used due to their light weight, thermal stability than conventional thermoplastic acrylic resin, and low-cost benefits.
Automotive companies are increasingly using lightweight materials to lower vehicle emission and improve vehicle fuel economy. Moving forward electric vehicles made with light weight auto components are the future automotive industry drivers hence polystyrene resins to witness.
Owing to the lightweight property, Implementation of stringent government regulations focusing on the construction of energy efficient infrastructure and emphasis on the reduction of greenhouse gas emissions are major factor driving the global specialty polystyrene resin market. Some of the key factors influencing the market growth include increasing demand for automotive application, growing use of packaging for performance and environmental reasons in emerging economies.
However, high performance alternatives, poor weather ability, chemical resistance and brittleness are restraining the market growth.
Function segment Analysis
Based on function, the Specialty Polystyrene Resin market is classified into protection, insulation, cushioning, and others. Among the functionality protection the dominant segment which accounts to XX% of the market.
The protection function accounted for the largest market share in specialty polystyrene resin market in 2017 and is expected to remain the major function during the forecast period, as this function is mostly needed in applications such as healthcare, electrical & electronics, and packaging.
In the packaging application, specialty polystyrene resin delivers physical and mechanical strength, and it is the most versatile type of polymer foam. It is lightweight, composed of individual cells of low-density polystyrene, and has a high strength-to-weight ratio because it is cross linked nature. It is useful in the food service and protective packaging applications, spurred by the growth in the e-commerce industry.
Application segment Analysis
Based on application, specialty polystyrene resin market is classified into Protective Packaging, Building & Construction, Automotive & Transportation, Electronics, Healthcare and others. Currently building & construction is the dominant segment and it accounts for approximately XX% of the market.
Specialty polystyrene resins are adopted widely across the healthcare industry with significant efforts to commercialize new medical polymers to meet the specification of high-end use.
The demand for specialty polystyrene resin in the healthcare market is growing significantly owing to a significant upsurge in demand for medical lab ware, pharmaceutical products, Vacutainer trays, components for medical devices, and packaging for essential medicines due to the increase in population.
The demand for specialty polystyrene resin is witnessing significant growth in all the regions due to the rapid acceptance and adoption of polymers from product designing to final product manufacturing.
The Asia Pacific Specialty Polystyrene Resin market size was worth USD XX million in 2018 and is estimated to reach USD XX million by 2026, at a CAGR of XX% during the forecast period. Asia Pacific region is expected to grow with high CAGR during the forecast period owing to the immense growth in the end user industries.
Polystyrene is widely used to produce daily use consumer products such as refrigerators, air conditioners, televisions, computers and disposable utensils.
Asia pacific region is the major producer of electronic devices in which China will remain the world's electronics factory. Moving forward this country will produce 50% of global electronics in value terms by 2025.
Followed by the China, South East Asia and South Korea to remain a major area for electronics production in the region. South Korea's electronics sector is primarily characterized by two major players namely Samsung Electronics Co Ltd and LG Electronics Inc and numerous automotive electronics producers.
South East Asia electronics manufacturing is led by the Philippines, Malaysia, Indonesia, Vietnam and Thailand.
China was the leading countries with highest production capacity. Asia is the leading region accounting for the largest share of global production capacity of the polymer. It occupied 55.1% of the production capacity.
Some of the major players include Synthos S.A., BASF SE, Versalis S.P.A., Sekisui Plastics Co., Ltd., LG Chem Ltd., Sunpor Kunststoff GmbH, Eastman Chemical Company, Nova Chemicals Corporation, Styropek, Styrochem.
Sekisui Plastics Co., Ltd, is one of the largest specialty polystyrene resin companies. This company has a strong global presence. It has a diversified product portfolio to cater to end-use industries according to their requirements. To sustain its dominating position, the company is anticipated to target new markets.
Global specialty polystyrene resin market is partially consolidated with the presence of high number of major players. threat of new entrants in this market as the market being high capital intensive.
These key players mainly focus on new product launches, expansions, and mergers & acquisitions to enhance their position in the solar PV glass market.
The global specialty polystyrene resin report would provide an access to an approx, specialty polystyrene resin market 53 data table, 46 figures and 156 pages