Dublin, Sept. 23, 2022 (GLOBE NEWSWIRE) -- The "Polystyrene Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering. Major players in the polystyrene market are A.Schulman Inc., ACH Foam Technologies, Inc., Alpek S.A.B. de C.V, Americas Styrenics LLC, Atlas Roofing Corporation, Austrotherm GmbH, BASF SE, BEWiSynbra Group, Brodr. Sunde as and Chi Mei Corporation. The global polystyrene market is expected to grow from $28.46 billion in 2021 to $30.77 billion in 2022 at a compound annual growth rate (CAGR) of 8.1%. The market is expected to grow to $38.49 billion in 2026 at a CAGR of 5.8%. The polystyrene market consists of the sales of polystyrene and related services. Polystyrene is a synthetic thermoplastic material formed through polymerizing styrene. It is used in modeled products, foams, and sheet materials. The main products types of polystyrene are expandable polystyrene (EPS), general-purpose polystyrene (GPPS), high-impact polystyrene (HIPS), and extruded polystyrene (XPS). Expandable polystyrene rigid, tough, and lightweight thermoplastic product.EPS is good for the packaging and construction industries due to its lightweight, strong, and excellent thermal insulation properties.
Polystyrene is used in the automotive industry, electronics, thermal insulation industries, pharmaceuticals, consumer industry, packaging industry, and construction industry and is applied in HVAC insulation, rigid packaging, seating, and flexible packaging. Asia Pacific was the largest region in the polypropylene market in 2021. North America was the second-largest region in the polypropylene market. The regions covered in the polystyrene report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The demand for packaging products has increased recently, particularly in emerging economies such as China and India. As the size of the middle-class grew in these countries, the consumption of processed foods, poultry, meat, and agricultural products increased. According to World Bank China had a GDP growth of 2.3 percent in 2020 compared to 2019.
The increase in per-capita income in these economies resulted in the emerging middle-class purchasing more packaged goods. The demand for packaged goods increased the consumption of polystyrene for their packaging, driving the market. Stringent regulations on plastic materials were a major restraint on the polystyrene market. Many of the 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 agencies and regulators are strictly assessing and managing the risks involved in the production and use of polystyrene. Many cities in the USA, decided to ban polystyrene products from schools and other civic buildings. In January 2019, New York City implemented a citywide ban on single-use foam containers.
In October 2019, The Integrated Waste Management Authority passed the ordinance to ban polystyrene in the entire San Luis Obispo County. 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. Construction and packaging sectors in developing countries are increasingly using Expanded Polystyrene (EPS). EPS provides design and structural cohesion to construction projects and possesses physical and mechanical properties required for insulation.
It is mostly used in the construction sector due to properties of closed air low thermal conductivity, low water absorption, lightweight, mechanical resistance, and sound resistance. EPS offers sound weight and volume performances compared to other building materials making construction simple. In February 2019, INEOS Styrolution, a styrenics supplier headquartered in Germany completed the acquisition of two polystyrene sites from Total S.A. for an undisclosed amount. The acquisition includes two polystyrene production sites in Ningbo and Foshan and two related offices in Guangzhou and Shanghai. The transaction will increase INEOS Styrolution's manufacturing footprint in Asia and provide access to the domestic market in China. Total SA is a multinational oil and gas company headquartered in France. The countries covered in the polystyrene market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. Key Topics Covered: 1. Executive Summary 2. Polystyrene Market Characteristics 3. Polystyrene Market Size And Growth 3.1. Global Polystyrene Historic Market, 2016 - 2021, $ Billion 3.1.1. Drivers Of The Market 3.1.2. Restraints On The Market 3.2. Global Polystyrene Forecast Market, 2021- 2026F, 2031F, $ Billion 3.2.1. Drivers Of The Market 3.2.2. Restraints On the Market 4. Polystyrene Market Segmentation 4.1. Global Polystyrene Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2026F, 2031F, $ Billion
4.2. Global Polystyrene Market, Segmentation By End User Industry, Historic and Forecast, 2016-2021, 2026F, 2031F, $ Billion
4.3. Global Polystyrene Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2026F, 2031F, $ Billion
5. Polystyrene Market Regional And Country Analysis 5.1. Global Polystyrene Market, Split By Region, Historic and Forecast, 2016-2021, 2026F, 2031F, $ Billion 5.2. Global Polystyrene Market, Split By Country, Historic and Forecast, 2016-2021, 2026F, 2031F, $ Billion Companies Mentioned
Alpek S.A.B. de C.V
Formosa Chemicals & Fibre Corporation
For more information about this report visit https://www.researchandmarkets.com/r/i4vmud
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