The global polystyrene market has been estimated at USD 28,103.36 million in 2017. The market is expected to register a CAGR of 4.91% during the forecast period, 2018 to 2023. General Purpose Polystyrene dominated the global polystyrene market with nearly 25% share globally and is estimated to register the fastest CAGR through the forecast period.
GROWING CONSUMER ELECTRONICS MARKET
Consumer electronics is an innovation based highly competitive market. Polystyrene is an important product used in various applications in consumer electronics such as housing for TV's and all kind of IT equipment’s, form and aesthetics, and a high performance/cost ratio. Polystyrene is a favorable choice for media enclosures, cassette tape housing, and clear jewel boxes to protect CDs and DVDs. Continuously changing technology and decreasing price range of products are the key driving factors for consumer electronics in the global market. Emerging economies such as China, India, Indonesia, Thailand, Australia, Brazil, South Africa, South Korea, etc. are new markets and showing huge potential for growth.
General purpose polystyrene, also known as crystal or straight polystyrene, is the transparent and rigid form of polystyrene mainly used for food packaging. Applications include a variety food containers and trays. GPPS also find application in healthcare industry. It is used for the manufacturing of disposable medical products such as test kits housing, test tubes, etc. Asia-Pacific is the largest producer as well as the consumer for the GPPS market. It is followed by Europe and North America.
Asia-Pacific Dominates the Market
Asia-Pacific has the highest share in the market, accounting for nearly 47% of the global market share in 2017. The market for Asia-Pacific is driven majorly because of the increasing consumer base and high demand for packaging. Moreover, the construction sector in the region remains positive, as the industry is expected to benefit from the increasing demand, triggered by a rebound in the residential construction and infrastructure projects.
China is the Largest Consumer
China’s geographic location provides easy access to industrial goods markets in neighboring countries, as well as globally, to other countries; this makes it a major access point for manufacturers and suppliers. Demand for polystyrene in China has remained strong over the past few years owing to increased electrical, electronics, and packaging applications. The abundant availability of raw materials and low cost of production is estimated to boost the demand in the polystyrene market in the country.
Key Developments in the Market
• December 2017: Trinseo announces price increases for Polystyrene, Polycarbonate and Copolymers in Europe
Major Key Players are INEOS STYRLOUTION GROUP GMBH, TOTAL, TRINSEO, SABIC, and BASF and Other Players Include AMERICAS STYRENICS LLC, CHI MEI CORPORATION, FORMOSA CHEMICALS & FIBRE CORP, KUMHO PETROCHEMICAL CO., LTD., LG CHEM, LTD., SYNTHOS S.A., THE DOW CHEMICAL COMPANY, VERSALIS S.P.A, and VIDEOLAR-INNOVA S.A.
Reasons to Purchase this Report
• Market definition, along with the identification of factors instrumental in changing the market scenario and prospective opportunities
• Various market perspectives, with the help of Porter’s five forces analysis
• Regions or countries that are expected to witness the fastest growth during the forecast period
• Product segment, which is going to dominate the market over the forecast period
• The latest developments, market shares, and strategies that are employed by the major market players
• 3 months analyst support along with the Market Estimation sheet in excel.
Customization of the Report
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1.1 Scope of the Report
1.2 Research Methodology
2. Executive Summary
3. Market Insights
3.1 Industry Value-Chain Analysis
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
3.3 Regulatory Policy Analysis
4. Market Dynamics
4.1.1 Recycling in Polystyrene Industry
4.1.2 Consumer Consumer Electronics Market
4.2.1 Increasing Ban on Polystyrene Across North America and Europe
4.2.2 Availability of High Performance Substitutes
4.3.1 Recovering Construction Industry in Europe
4.3.2 Ongoing Research to Develop Bio-Based Polystyrene
5. Market Segmentation and Analysis
5.1 By Resin Type
5.1.1 General Purpose Polystyrene (GPPS)
5.1.2 High Impact Polystyrene (HIPS)
5.1.3 Expandable Polystyrene (EPS)
5.2 By Form Type
5.2.2 Films & Sheets
5.2.3 Injection Moulding
5.3 By End-User Industry
5.3.2 Building and Construction
5.3.3 Electrical and Electronics
5.3.4 Consumer Goods
6. Regional Market Analysis
6.1.4 South Korea
6.1.5 Australia and New Zealand
6.1.6 ASEAN Countries
6.1.7 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.4 Rest of North America
6.3.2 United Kingdom
6.3.6 NORDIC Countries
6.3.7 Rest of Europe
6.4 South America
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.4 Rest of Middle East & Africa
7. Import and Export Overview
8. Future of the Market
9. Competitive Landscape
9.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
9.2 Market Share Analysis*
9.3 Strategies Adopted by Leading Players
10. Company Profiles (Overview, Financials*, Products & Services, Recent Developments, and Analyst View)
10.1 AMERICAS STYRENICS LLC
10.2 BASF PERFORMANCE PRODUCTS
10.3 CHI MEI CORPORATION
10.4 FORMOSA CHEMICALS & FIBRE CORP
10.5 INEOS STYROLUTION GROUP GMBH
10.6 KUMHO PETROCHEMICAL CO., LTD.
10.7 LG CHEM, LTD.
10.9 SYNTHOS S.A.
10.10 THE DOW CHEMICAL COMPANY
10.13 VERSALIS S.P.A
10.14 VIDEOLAR-INNOVA S.A
10.15 ...list not exhaustive
12. * subject to availability on public domain