Polystyrene Market to Surpass a Valuation of USD 40 Billion by 2023 - 2030

Pune, India, March 2021 /press release/- Market Research Future Published a Cooked Research Report on polystyrene market Research Report.

Overview

The global polystyrene market, during the forecast period 2023 - 2030., will register growth at a CAGR of 5.00%. The market for polystyrene is set to reach USD 40 Billion by 2030. As per market analysts, the global market is anticipated to witness growth owing to the factors such as growing demand for sustainable and lightweight solutions  as well as the growth of the electronics & packaging industries . However, the market will face challenges and restraints due to fluctuating raw material costs and rigorous restrictions on plastic products during the forecast period 2023 - 2030..

Increased adoption of environmentally friendly materials in the market is set to play a key role in determining the growth potential during 2023 - 2030.years. Analysts have also studied the market to understand potential threats and challenges the market companies could face. Although the market is poised to grow at a fast pace across application, end-use industry, and type segments, factors such as risks involved in manufacturing could slow down the market's growth worldwide.

Market Segmentation

The polystyrene market has been segmented into application, end-use industry, and type. Based on the segment which is application, the market is categorized on the basis of flexible packaging, HVAC insulation, rigid packaging, seating, and others. The global market for polystyrene is further segmented based on the end-use industry into building and construction, consumer goods and appliances, electronics, packaging, and others. Furthermore, the market, on the basis of type, is segmented into expandable polystyrene (EPS), extruded polystyrene (XPS), general-purpose polystyrene (GPPS), high-impact polystyrene (HIPS), and others.

The global polystyrene market research report covers all the aspects of the market based on the segmental analysis of these application, end-use industry, and type segments. Analysts have also studied the global market's regional markets spread across many continents and countries. The application, end-use industry, and type segments along with their sub-segments have been analyzed and companies functioning in the polystyrene market across these segments are profiled and analyzed based on input and feedback from market based decision makers as well as primary and secondary sources. The market research report presents analysis based information for companies functioning in the polystyrene market.

Regional Overview

The increasing substitution of heavy metals may hinder the polystyrene market growth. The market research report suggests that companies in the market could be supported by rapid urbanisation coupled with technology as well as rising sectors such as consumer products during the forecast period. The market is set to register growth at a high CAGR owing to these key factors. The market is spread across North America, Europe, Asia-Pacific, and other parts of the world. The global market research report reveals that APAC, North America, and Europe regional markets will dominate the global market for polystyrene during the forecast period 2023 - 2030.. As per market analysts, the market is set to witness tremendous growth across application, end-use industry, and type segments in North America which covers markets across the United States, Canada, Mexico and several other regional markets. Companies active in the market are also analyzed and studied in the market research report.

The polystyrene market for Europe covers smaller market segments of Germany, Italy, France, and the United Kingdom. Additionally, the market research report covers the Asia-Pacific region covering markets from India, China, Japan, Australia, and others. The market is also spread across the rest of the world. The market report covers all such regions including the Middle East, Africa, Brazil, and others.

Competitive Landscape

Polystyrene has seen increased demand over the years, due to the increase in green building demand and increasing developments in sustainable business practises. Companies functioning in the global market are also being challenged due to fluctuations of crude oil prices and unstable cost of raw materials. Mergers and acquisitions by market companies are anticipated to help the market during the forecast period 2023 - 2030.. As the market is set to register a high CAGR of 5.00% and is also anticipated to reach a USD 40 Billion by 2030, the report highlights key areas companies need to focus on. The report suggests that the market will see a healthy growth in the long run till 2030. Based on SWOT analysis and market’s analysis based on Porters’ Five Force Model presented in the market report. Mergers and acquisitions by market companies are anticipated to help the market during the forecast period 2023 - 2030..  

Industry News

The Styrenic giant Ineos Styrolution, has entered into an agreement to buy the French multinationals Total SA of two polystyrene (PS) manufacturing facilities in China. The deal comprises the acquisition of the majority owned Chinese PS company, involving two Ningbo as well as Foshan processing plants and two affiliated offices.  The deal marks the first production transfer to China by Ineos Styrolution, which highlights the organization's approach to the Asian growth industry, as a result of the company's growth plan for "Triple Shift" said the organization in a press release.

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