Press Release

Amid Ukraine-Russia crisis, our analysts and industry experts are closely monitoring the markets and working hard to identify, gather and timely deliver analysis of the impact of the situation and the impact that it has on various markets. All our reports are updated with the latest impact on the market before being sent out to our customers.

Global Polystyrene Market to Grow at a CAGR of 1.9% over the Forecast Period of 2022-2027.

According to a new report by EMR titled, ‘Global Polystyrene Market Report and Forecast 2022-2027’, the global demand for polystyrene reached a volume of around 18.6 million metric tons in 2020. The industry is further expected to witness a steady growth rate, displaying a CAGR of 1.9% between 2022 and 2027 to reach a volume of almost 20.8 million metric tons by 2026.

The global polystyrene market is being driven by polystyrene’s growing demand in the construction and electronics sector. Polystyrene, being a flexible plastic, is used to produce a wide range of consumer products like automotive parts, toys, laboratory products, electronics, etc. Thus, consumer electronics has emerged as a major driving segment for the industry, which is expected to grow at a CARG of 7-10% till 2023.

The Asia Pacific dominates the global market for polystyrene, contributing significantly to the global trade market of the product. In February 2020, INEOS Styrolution Group GmbH, a leading global styrenics supplier, completed the acquisition of two polystyrene sites in China from Total S.A. The company focuses on styrene monomer, polystyrene, ABS Standard, and styrenic specialties and provides the ease of recyclability and compatibility to its consumers. With this acquisition, the company aims at expanding its market in Asia, further making domestic market in China accessible to the company with locally produced materials.

Moreover, with the increasing environmental concern and rising plastic pollution, the demand to reduce plastic waste is on the rise. Thus, the major players in the industry like Total S.A. (NYSE: TOT) and others are focusing on recycling its plastic produce, further reducing the carbon footprint on the environment. Total S.A., a global leader in bioplastics, is the most integrated oil and gas company with worldwide operations, producing fuels, natural gas and low-carbon electricity. In June 2018, Total S.A. announced that it has joined forces with Citeo, Saint-Gobain, and Syndifrais, to create a polystyrene recycling channel in France by 2021. The feasibility of large-scale production will be validated at the Group’s industrial sites in Carling (France) and Feluy (Belgium). All the four players in the polystyrene consumer packaging value chain actively seek a recycling solution that will ensure the development of a circular economy for such products.

Market Breakup by Applications and Regions:

  • Based on application, the global polystyrene industry, can be broadly categorised into packaging and one-time use, consumer and institutional, electrical and electronic, building and construction, and resellers and others.
  • The regional markets for global polystyrene market are North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global polystyrene market is being driven by its increased demand from electric and electronic appliances sector as it is used for insulation and other purposes. 
  • The increasing urbanisation has resulted in the growth of the infrastructural activities, further leading to the development of construction sector, which is providing further impetus to the market for its growth. 
  • The increasing demand for high impact polystyrene and general-purpose polystyrene from different sectors, particularly consumer electronic segment, is further aiding the growth of the industry.

Key Offerings of the Report:

  • The EMR report gives a detailed insight into the applications and regional markets of polystyrene for the periods (2017-2021) and (2022-2027). 
  • The report gives the regional historical (2017-2021) and forecast (2022-2027) price trends of polystyrene. 
  • The global trade data has also been provided in the report by EMR, analyzing the value and volume of the major importing and exporting countries.

The major players in the global polystyrene 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. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

Contact Us:

Expert Market Research
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

Similar Reports

Global Bioplastics Market Report and Forecast 2022-2027

Global Bale Net Market Report and Forecast 2022-2027