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Global Polystyrene Market Size, Share, Trends, Forecast: By Applications: Packaging and One-Time Use, Consumer and Institutional, Electrical and Electronic, Building and Construction, Resellers and Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global Polystyrene Market Outlook
The global polystyrene market is being driven by the rising demand for the product. The global demand for the product reached nearly 19.68 million metric tons in 2023 and expected to grow at a CAGR of 1.9% between 2024 and 2032.
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The demand for the product is further expected to grow at a CAGR of 1.9% between 2024 and 2032 to reach a volume of 22.43 million metric tons by 2032. The major supply markets include North America, the European Union, and the Asia Pacific region. The polystyrene market is significantly supported by the construction as well as the electronics industry.
The Asia Pacific region is a major regional polystyrene market. Currently, the Asia Pacific region contributes significantly to the total trade market of the material. While the import and export of high impact polystyrene (HIPS) and general-purpose polystyrene (GPPS) is balanced in the region, the Asia Pacific is a net exporter of expanded polystyrene (EPS) resin. The global production capacity for polystyrene, specifically high impact polystyrene, and GPPS is estimated to be about 14 million metric tons, with Asia accounting for about half of the total capacity. The global production capacity for expanded polystyrene (EPS) is estimated to be around 12 million metric tons, with the Asia Pacific accounting for about three-fourth of the total global capacity. The consumers in North America are expected to look to the Asia Pacific region to cater to their future requirements. China is one of the largest importers of HIPS and GPPS because of the increasing application of the substance in the consumer electronics industry.
The market for EPS is supported by the firm demand from the Asian market, which is expected to grow further in the coming years, while mature markets, like Europe and North America, are expected to grow slower than Asia. The United States is one of the net importers of high impact polystyrene (HIPS), general-purpose polystyrene (GPPS) and expanded polystyrene (EPS). With the rising demand for expanded polystyrene, Europe might depend on imports from regions like Korea and India. Turkey is the largest export market within Europe, accounting for nearly half of the total exports in Europe. The expanded polystyrene industry has been among the fastest-growing polystyrene markets, owing to the high demand from the construction sector. The industry is majorly impacted by the construction industry, which is growing at a rapid rate. The construction sector in the Asia Pacific region is likely to develop faster as compared to Europe and North America, thus, driving the demand for polystyrene within the sector.
Market Segmentation
Polystyrene is a flexible plastic used in the production of a wide range of consumer products. It is often used as a rigid, solid plastic in items requiring clarity such as food packaging and laboratory products. Polystyrene is used to produce appliances, computers, automotive parts, toys, gardening pots and equipment, and more when mixed with various colours, chemicals, or other plastics.
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It has wide applications in the following segments:
- Packaging and One-Time Use
- Consumer and Institutional
- Electrical and Electronic
- Building and Construction
- Resellers and Others
The report also covers the regional markets of the product like North America, Europe, the Middle East and Africa, the Asia Pacific, and Latin America.
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Market Analysis
The polystyrene market is significantly driven by downstream users like the construction industry and electronics industry. The increasing application of expanded polystyrene for insulation and construction purposes is propelling the polystyrene market growth further. The construction industry is rapidly growing and is positively affecting the polystyrene industry. The expanded polystyrene market has been one of the fastest-growing styrene markets, due to high demand from the infrastructure and construction sector.
The rising use of high impact polystyrene and general-purpose polystyrene in consumer electronic devices is supporting the growth of the industry. The high impact polystyrene and general-purpose polystyrene market are supported by the demand from the Asian market. The segment is also growing due to its extensive use for insulation purposes as it has to compete only with cotton wool in this segment. The consumer electronics sector has a consumption rate of around 20% of the material and is aided by the electric and electronic appliances market.
Competitive Landscape
February 2020- Ineos Styrolution completed its acquisition Total S.A.’s China polystyrene business, which includes the purchase of Ningbo and Foshan production sites.
The report gives a detailed analysis of the following key players in the global polystyrene market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- INEOS Styrolution Group GmbH
- Total S.A.
- Americas Styrenic LLC
- CHIMEI Corporation
- PS Japan Corporation
- Shanghai SECCO Petrochemical Company Limited
- Versalis S.p.A.
- Supreme Petrochem Ltd
- Trinseo PLC
- Others
The comprehensive EMR report provides an in-depth assessment of the polystyrene market based on Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Polystyrene Market Analysis
8.1 Key Industry Highlights
8.2 Global Polystyrene Historical Market (2018-2023)
8.3 Global Polystyrene Market Forecast (2024-2032)
8.4 Global Polystyrene Market by Application
8.4.1 Packaging and One-Time Use
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Consumer and Institutional
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Electrical and Electronic
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Building and Construction
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Resellers and Others
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.5 Global Polystyrene Market by Region
8.5.1 North America
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Europe
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Asia Pacific
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Latin America
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Middle East and Africa
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
9 North America Polystyrene Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Polystyrene Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Polystyrene Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Polystyrene Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Polystyrene Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code: 390319)
16.1 Major Exporting Countries
16.1.1 By Value
16.1.2 By Volume
16.2 Major Importing Countries
16.2.1 By Value
16.2.2 By Volume
17 Price Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 INEOS Styrolution Group GmbH
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Total S.A.
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Americas Styrenic LLC
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 CHIMEI Corporation
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 PS Japan Corporation
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Shanghai SECCO Petrochemical Company Limited
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Versalis S.p.A.
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Supreme Petrochem Ltd
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 Trinseo PLC
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Polystyrene Market: Key Industry Highlights, 2018 and 2032
2. Global Polystyrene Historical Market: Breakup by Application (Million Metric Tons), 2018-2023
3. Global Polystyrene Market Forecast: Breakup by Application (Million Metric Tons), 2024-2032
4. Global Polystyrene Historical Market: Breakup by Region (Million Metric Tons), 2018-2023
5. Global Polystyrene Market Forecast: Breakup by Region (Million Metric Tons), 2024-2032
6. North America Polystyrene Historical Market: Breakup by Country (Million Metric Tons), 2018-2023
7. North America Polystyrene Market Forecast: Breakup by Country (Million Metric Tons), 2024-2032
8. Europe Polystyrene Historical Market: Breakup by Country (Million Metric Tons), 2018-2023
9. Europe Polystyrene Market Forecast: Breakup by Country (Million Metric Tons), 2024-2032
10. Asia Pacific Polystyrene Historical Market: Breakup by Country (Million Metric Tons), 2018-2023
11. Asia Pacific Polystyrene Market Forecast: Breakup by Country (Million Metric Tons), 2024-2032
12. Latin America Polystyrene Historical Market: Breakup by Country (Million Metric Tons), 2018-2023
13. Latin America Polystyrene Market Forecast: Breakup by Country (Million Metric Tons), 2024-2032
14. Middle East and Africa Polystyrene Historical Market: Breakup by Country (Million Metric Tons), 2018-2023
15. Middle East and Africa Polystyrene Market Forecast: Breakup by Country (Million Metric Tons), 2024-2032
16. Major Exporting Countries by Value
17. Major Importing Countries by Value
18. Major Exporting Countries by Volume
19. Major Importing Countries by Volume
20. Global Polystyrene Market Structure
Key Questions Answered in the Report
In 2023, the global polystyrene market attained a volume of nearly 19.68 million metric tons.
The market is projected to grow at a CAGR of 1.9% between 2024 and 2032.
The major drivers of the market are the growing demand for thermal insulation, rise in the green building demand, increasing investment into research and development, growing global population, and increasing industrialisation and globalisation.
The growing usage of high-impact polystyrene and general-purpose polystyrene in consumer electronics and increasing application of expanded polystyrene for insulation and construction purposes are the key trends propelling the market growth.
The major regions in the market are North America, Europe, Asia Pacific, Latin America, and Middle East and Africa with Asia Pacific accounting for the largest share in the market.
The major applications in the global polystyrene market are packaging and one-time use, consumer and institutional, electrical and electronic, building and construction, and resellers, among others.
The major players in the market are INEOS Styrolution Group GmbH, Total S.A., Americas Styrenic LLC, CHIMEI Corporation, PS Japan Corporation, Shanghai SECCO Petrochemical Company Limited, Versalis S.p.A., Supreme Petrochem Ltd, and Trinseo PLC, among others.
Analyst Review
The global polystyrene market attained a volume of nearly 19.68 million metric tons in 2023, driven by the increasing applications of the product in sectors such as construction and electronics. Aided by the rise in the green building demand and increasing industrialisation and globalisation, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 1.9%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its applications, the global polystyrene industry can be segmented into packaging and one-time use, consumer and institutional, electrical and electronic, building and construction, and resellers and others. The major regional markets for the global polystyrene are North America, Europe, Asia Pacific, Latin America, and Middle East and Africa with Asia Pacific accounting for the largest share in the market. The key players in the above market include INEOS Styrolution Group GmbH, Total S.A., Americas Styrenic LLC, CHIMEI Corporation, PS Japan Corporation, Shanghai SECCO Petrochemical Company Limited, Versalis S.p.A., Supreme Petrochem Ltd, and Trinseo PLC, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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